Pengaruh Pengungkapan Tanggung Jawab Sosial Perusahaan Terhadap Nilai Perusahaan

Abstract

The Purpose of this study is to examine the effect of the information of Corporate Social Responsibility (CSR) disclosed in the companies' annual reports on the corporate's value. The corporate social responsibility disclosures include details of economic performance, environment performance and social performance. The corporate's value is measured by financial performance(ROE) and market performance (Tobin's Q). The sample of this research was extracted with purposive sampling method. The sample of the study consist of 87 annual reports. The sample listed on the Bursa Efek Indonesia as of December 31, 2007 and 2008. The technique for examining hypothesis is multiple regression analysis by using SPSS 16.00 programs. The empirical results of the study show that the level of CSR disclosures had not significant influence to corporate's value which is measured by financial performance (ROE). Beside this, the results of the study show that level of CSR disclosures had positive effect to corporate's value which is measured by market performance (Tobin's Q). It indicates that investors assess the CSR information disclosed by the companies in their annual reports for their investment decision