Pengaruh Corporate Social Responsibility terhadap Firm Value dengan Employee Value Proposition dan Financial Performance sebagai Variabel Mediasi pada Perusahaan Terbuka
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Abstract
Penelitian ini bertujuan untuk mengetahui pengaruh corporate social responsibility terhadap firm value melalui employee value proposition, financial performance sebagai variabel mediasi. Penelitian ini merupakan penelitian kuantitatif, dimana data yang diperoleh berasal dari Bloomberg Database, Sustainability Report, dan Majalah SWA dari tahun 2011-2015. Hasil penelitian ini menunjukkan bahwa corporate social responsibility berpengaruh terhadap firm value, corporate social responsibility berpengaruh terhadap employee value proposition, employee value proposition berpengaruh terhadap firm value, corporate social responsibility berpengaruh terhadap financial performace, dan financial performace berpengaruh terhadap firm value. Pengaruh langsung antara corporate social responsibility terhadap firm value lebih besar daripada pengaruh tidak langsung melalui employee value proposition. Pengaruh langsung antara corporate social responsibility terhadap firm value lebih kecil daripada pengaruh tidak langsung melalui financial performance. Hal ini menunjukkan bahwa financial performance merupakan mediasi yang baik antara corporate social responsibility terhadap firm value.
Kata Kunci: corporate social responsibility, employee value proposition, financial performance, dan firm value
This research aim to examine the influence of CSR to firm value through employee value proposition, financial performance as mediation variable. Datas from this quantitative research obtained from Bloomberg database, sustainability report and SWA magazine 2011-2015. This research show that CSR influence firm value, CSR influence employee value proposition, employee value proposition influence firm value, CSR influence financial performance and financial performance influence firm value. Direct influence between CSR to firm value more significant than indirect influence through employee value proposition. Direct influence between CSR and firm value less significant than indirect influence through financial performance. This result show that financial performance is a good mediation variable between CSR to firm value.
Keywords: corporate social responsibility, employee value proposition, financial performance, and firm value.
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