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Journal : Research of Business and Management

CSR and Profitability as Determinants of Firm Value: Evidence from Sri-Kehati Index Tarsono, Ono; Mustika, Maya; Salim, Fasya Nabila; Suryono, Dwi Windu
Research of Business and Management Vol. 4 No. 1 (2026): FEBRUARY, 2026
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rbm.v4i1.582

Abstract

This study aims to investigate the impact of Corporate Social Responsibility (CSR) and profitability on firm value among companies listed on the Sri-Kehati Index of the Indonesia Stock Exchange (IDX) during the 2021–2024 period. A descriptive quantitative research design was applied using panel data analysis with EViews 12. The population consisted of firms listed on the Sri-Kehati Index, with purposive sampling selecting 11 companies, resulting in 44 firm-year observations. Secondary data were collected through documentation from the official IDX website (www.idx.co.id). The results reveal that CSR has a negative and significant effect on firm value, while Return on Assets (ROA) and Return on Investment (ROI) do not have a significant effect. These findings suggest that while CSR initiatives significantly shape firm value, profitability indicators such as ROA and ROI may not directly drive market valuation in Sri-Kehati Index firms.
Co-Authors Abustan Abustan, Abustan Adella, Faizah Aden Apandi Ahriyati, Ahriyati Akhmadi, Ali Al Fasihah, Tamamatunnisa Almurni, Siti Amaliyah, Siska Ananda Fasya Indira Arianto, Rany Arif Hidayat Arno Sebastian Budi, Gunarjo Suryanto Bustan, Andi Christy, Nirena Ade Dahlifah Dahlifah Dahlifah Dean Salomo Kumenaung Dicky Perwira Ompusunggu Dwi Susilowati Effendi, Syahrul Engkur Engkur Erna Lovita Erni Dwi Puji Setyowati, Erni Dwi Puji Fadillah, Hanifah Tri Nur Fandi Tuju Fanisyah Maliki Faruqi, Faris Fasihah, Tamamatunnisa Al Fatin, Arista Safitri Gatot Prabantoro Ghessiani, Luthfiannisa Gymnastia , Hanifa Najla Gymnastia, Hanifa Najla Hans H. Tanuraharjo Hendro, Junaidi Hendryadi Hendryadi Hutahaean, Saulim DT. Irvan Noormansyah Juniarti Juniarti Juniarti Juniarti Kalalinggi, Septaria Yolan Karawahenni, Yolanda Dwi Vivian Kawung, Goerge M.V. Khalifatus Sakdiyah Lina Noersanti Lina Noersanti Lovita, Erna M. Nawir, M. Ma'ruf, Muhammad Fajar Megayani Megayani Megayani, Megayani Meita Pragiwani Mesakh, Asyer Imanuel Mirnawati Dewi, Mirnawati Muflihuddin, Muhammad Rizqi Muhammad Ikhsan Mujianto Mujianto Munir Munir Nasution, Nursanita Nursanita Nursanita Nursanita Nursanita Pragiwani, Meita Preztika Ayu Ardheta Preztika Ayu Ardheta Preztika Ayu Ardheta Pri Ariadi Cahya Dinata, Pri Ariadi Cahya Putri, Dina Anavia Putri, Umi Amanda Rahayu, Gita Rahman, Sudarman Rianto, Adi Ridwan Maronrong Rimi Gusliana Mais Rimi Gusliana Mais Rudi Salim Safitri, Adelia Sakdiyah, Khalifatus Sakti, Sri Handoko Salim, Fasya Nabila Sandi, Gloria Anjelina Santoso, Joko Bagio Saprudin Saprudin Siloam, Kristanoval Siti Nafisah Siwu, Hanly F.J Sri Handoko Sakti Sri Handoko Sakti Stalia, Sela Suhartono Sulistyowati Sulistyowati Suryono, Dwi Windu Sutopo Sutopo Syahrul Effendi Tarsono Tarsono Theasy, Yoan Theo Jhoni Hartanto, Theo Jhoni Uun Sunarsih Yudhistira Rannu Paembonan