Pengaruh Biaya Corporate Social Responsibility Terhadap Kinerja Keuangan dan Nilai Perusahaan [Influence of Cost against Corporate Social Responsibility, Financial Performance, and Value]

Abstract

Corporate Social Responsibility is now become more important for Indonesian corporations. Many companies were in trouble for their environmental and social careless. The purpose of this research is to analyze the influence of corporate social responsibility expenditure on the financial performance and firm value. The samples of this study were 56 firmyears of public companies listed in Indonesia Stock Exchange during 2012 to 2013. The samples are chosen using the purposive sampling method based on certain designated criterias. Corporate social responsibility expenditure is measured by employee welfare cost and social expenditure for community. The financial performance is measured by return on assets (ROA) and firm value is measured by Tobin's Q ratio. For testing the hypothesis, this study used multiple regressions analysis. The result of this study showed that the employee welfare cost had positive effect toward financial performance (ROA). Moreoever, it had no effect toward the firm value (Tobins'Q). While, social expenditure for community had no effect toward financial performance (ROA) and firm value (Tobin's Q).