<![CDATA[Purpose: This study aims to examine effect of ownership structure and social media exposure on Corporate Social Responsibility disclosure. Methodology/approach: Using purposive sampling, nine personal care companies listed on the Indonesia Stock Exchange (IDX) were selected over a three-year period, yielding 27 firm-year observations. Secondary data were sourced from annual reports, company official websites, and Instagram accounts. Data analysis employed descriptive statistics, classical assumption tests (normality, multicollinearity, autocorrelation, and heteroscedasticity), and multiple linear regression supported by the coefficient of determination, F-test, and t-test. Findings: Managerial ownership, institutional ownership, and social media exposure show no significant effect on CSR disclosure, whereas public and foreign ownership have positive and significant effects. Simultaneously, all variables collectively influence CSR disclosure. Practical and Theoritical contribution/Originality: This study contributes two novelties to CSR disclosure literature. First, it operationalizes social media exposure through engagement rate, capturing real stakeholder interaction quality beyond traditional media coverage metrics. Second, it focuses empirically on Indonesia's personal care industry —a rapidly growing, socially active sector that remains largely unexplored — addressing both a measurement and industry-specific gap. Research Limitation: Annual engagement rate is calculated based on current follower numbers, which may not accurately reflect audience engagement for each year.]]>
