<![CDATA[This research aims to analyze the influence of CSR expenditure elements on debt financing with accounting conservatism as a moderating variable. This research uses a quantitative approach by collecting secondary data from sustainability reports, financial reports, and annual reports taken from the Indonesia Stock Exchange website and the web pages of each company. The research sample covers the observation period 2020-2022. Using company data registered on IDX and publishing sustainability reports on the company website. The research sample was obtained using purposive sampling, and 213 observation samples were obtained. The research results show that the element of CSR performance, namely environmental expenditure, hurts debt financing. Meanwhile, elements of social expenditure and economic expenditure from CSR have a positive effect on debt financing. The results of the moderation test show that the influence of environmental expenditure and debt financing cannot be moderated by accounting conservatism. Meanwhile, accounting conservatism can moderate the influence of social expenditure and economic expenditure on debt financing. The first two implications of this research are the transparency of CSR activities in environmental, social, and economic expenditure, which is a positive signal of external parties' trust in the company's debt financing policy. Second, a high level of accounting conservatism considers the interests of stakeholders who strengthen CSR policies in that social and economic expenditures influence corporate debt financing decisions.]]>
