The Effect of Financial Performance, CSR, on Company Value with Company Size as a Moderating Variable (Case Study on Metal and Mineral Sub-Sector Companies Listed on the IDX in 2020-2023)

Rebecca Dewi Anggraeni (Universitas Dhyana Pura)
Ni Luh Putu Sri Purnama Pradnyani (Universitas Dhyana Pura)
Rai Gina Artaningrum (Universitas Dhyana Pura)

JAKADARA: JURNAL EKONOMIKA, BISNIS, DAN HUMANIORA
Vol. 5 No. 2 (2026): JAKADARA: JURNAL EKONOMIKA, BISINIS, DAN HUMANIORA

Firm value can describe the prospect of a company's success in the future and can be used to assess the company as a whole. Firm value can also be assumed as an investor's perception of the company, which is often associated with the stock price. Company value reflects public trust in its operational activities. So, the point of this study is to find out what happens to a company's value when we use financial performance or corporate social responsibility (CSR). The size of the company is used as a moderating variable. This research was conducted at mining companies in the metal and mineral sub-sectors listed on the IDX in 2020-2023. We chose the sample by using saturated sampling and looking for metal and mineral mining companies that are listed on the IDX from 2020 to 2023. It consists of eight mining companies in the metal and mineral subsectors. The data analysis technique used is SEM-PLS and path analysis using the SmartPLS 4 application. The results of this study indicate that the application of financial performance has a positive effect on firm value. Corporate social responsibility (CSR) has a positive influence on firm value. Company size can moderate the relationship between financial performance and firm value; therefore, company size is referred to as quasi-moderation. Firm size cannot moderate the relationship between CSR and firm value; therefore, firm size is referred to as pure moderation of eight mining companies in the metal and mineral subsectors. The data analysis technique used is SEM-PLS and path analysis using the SmartPLS 4 application. The results of this study indicate that the application of financial performance has a positive effect on firm value. Corporate social responsibility (CSR) has a positive influence on firm value. Company size can moderate the relationship between financial performance and firm value; therefore, company size is referred to as quasi-moderation. Firm size cannot moderate the relationship between CSR and firm value; therefore, firm size is referred to as pure moderation.