Article2012

Impact of Corporate Social Responsibility Toward Firm Value and Profitability

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Corporate Social Responsibility Reporting Corporate Social Responsibility and Sustainability Corporate Governance and Financial Management

Abstract

Corporate Social Responsibility is business contribution to sustainable development, that corporate behaviour not only needed to ensure return to shareholders but also other stakeholders interest. In order to have a long-run business, corporation need to pay attention to 3P (profit, people and planet). Application of CSR is treated as an investment, as there are many benefit from CSR. In Indonesia, CSR currently is an obligation only for corporation in natural resources-related business. Our paper examined 30 selected listed Indonesia corporation (not in natural resources business) to examine relationship between CSR to firm value and profitability. Based on our research, using double linear regression model and usage of GRI as measurement of CSR activity we find out that there is no significant relationship between CSR and firm value (measured by Tobin’s Q). We also find same evidence for relationship between CSR and profitability (ROA, ROE and NPM).

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References

2003Misery Loves Companies: Rethinking Social Initiatives by Business 2010Corporate Social Responsibility as a Conflict Between Shareholders 2011Corporate Governance and Firm Value: The Impact of Corporate Social Responsibility 2008Corporate social responsibility and financial performance: the “virtuous circle” revisited 2010Corporate social responsibility and corporate financial performance: Evidence from Korea 2010The Mandatory Corporate Social Responsibility in Indonesia: Problems and Implications 2009Does Corporate Social Responsibility Matter in Asian Emerging Markets?2009Corporate Social Responsibility From Charity to Sustainability

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