Financial Statement Quality, Corporate Social Responsibility, and Firm Value: A Review of Miles and Snow’s Business Strategy Typology

Abdul Malik Kumar (Accounting Departement, Faculty of Economics and Business, Universitas Merdeka Malang)
Harmono Harmono (Accounting Departement, Faculty of Economics and Business, Universitas Merdeka Malang)

AKRUAL: Jurnal Akuntansi
Vol 17 No 02 (2026): AKRUAL: Jurnal Akuntansi

Introduction/Main Objectives: This study investigates the strategy-contingent effects of financial reporting quality and corporate social responsibility (CSR) on firm value during the Covid-19 crisis. Background Problems: The pandemic and large-scale social restrictions in Indonesia heightened market uncertainty, raising questions about the relative importance of financial versus non-financial information across different business strategies. Research methods: Using purposive sampling, this study analyzes 254 manufacturing firms listed on the Indonesia Stock Exchange during 2019–2021. Business strategies are classified using factor analysis, followed by strategy-based regression testing. Findings/Results: Financial reporting quality positively influences firm value for both prospector and defender firms. CSR shows no significant effect for prospector firms and a negative effect for defender firms. Conclusion: The value relevance of disclosures is strategy-dependent, with financial reporting quality playing a dominant role during periods of extreme uncertainty.