<![CDATA[This study examines the influence of institutional ownership, independent commissioners, Debt to Equity Ratio (DER), and firm size on Corporate Social Responsibility (CSR) disclosure and firm value. Using a quantitative approach, this research analyzes secondary data from financial statements of food and beverage companies listed on the Indonesia Stock Exchange during 2023–2025. From 101 firm-year observations, 86 were selected through purposive sampling. Data were analyzed using multiple linear regression. The results reveal mixed findings. Institutional ownership does not significantly affect CSR disclosure or firm value, indicating that monitoring by institutional investors is not always effective. Independent commissioners have a positive and significant effect on both CSR disclosure and firm value, highlighting the importance of governance quality. DER negatively affects CSR disclosure and firm value, suggesting that high leverage constrains sustainability initiatives and reduces investor confidence. Firm size positively influences CSR disclosure and firm value, reflecting greater visibility and resource capacity. Theoretically, these findings provide a deeper understanding of the role of corporate governance and financial structure in shaping the effectiveness of CSR disclosure and its implications for firm value. Practically, firms are encouraged to strengthen board independence and maintain prudent leverage policies to enhance CSR transparency and firm value]]>
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