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All Journal Formosa Journal of Science and Technology (FJST)
Michelle Anwar
Universitas Tarumanagara
Humanities Computer Science & IT Education Industrial & Manufacturing Engineering Social Sciences

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Moderating Environmental Performance on the Influence of Corporate Social Responsibility Disclosure on Stock Return Hendro Lukman; Michelle Anwar
Formosa Journal of Science and Technology Vol. 4 No. 9 (2025): September 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/fjst.v4i9.217

Abstract

Making investment decisions in the capital market requires financial and non-financial performance information. One of the non-financial information is information regarding sustainability. This information can be seen in the Corporate Social Responsibility Disclosure (CSRD) and Environmental Performance (PROPER). This research analyzes the effect of CSRD on Stock Return with PROPER moderation. This research is descriptive quantitative research using secondary data and taking samples using a purposive method from in consumer cyclicals and consumer non-cyclicals sub-sector manufacturing companies listed on the Indonesian Stock Exchange from 2017 to 2021. The number of samples that meet the requirements is 11 companies. The research uses multiple regression analysis. The results of this research show that CSRD has no influence on Stock Return, and PROPER has not been able to significantly strengthen the influence of CSRD on stock return. This research concludes that CSRD information directly or moderated by PROPER does not provide a positive signal for investors. The implication of this research is that PROPER information in CSRD can provide a strengthening signal to investors which influences share prices.
Co-Authors Hendro Lukman