The Effect of Corporate Social Responsibility on Company Value Mediated by Financial Performance in Consumer Goods Industry Sector Companies Listed on the Indonesia Stock Exchange in 2019-2023
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Asfahani Nuraeni Solihin*
Ferikawita M. Sembiring
This research aims to uncover how a consumer goods company's commitment to social responsibility impacts its overall worth, particularly by examining the mediating role of financial performance, as measured by Return on Assets (ROA), within Indonesian-listed companies between 2019 and 2023. The analysis is conducted using a quantitative approach with a sample size of 12 companies. The data collection method utilized is purposive sampling to select samples for analysis. 60 analyzed secondary data points were extracted from annual reports and company sustainability statements. Panel data regression and path evaluation are used in the current research. The investigation findings showed that both return on assets and social responsibility contribute positively to the value of a business to a certain degree. The presence of Corporate Social Responsibility has a favorable influence on Return on Assets, and at the same time, both Corporate Social Responsibility and Return on Assets have a beneficial impact on Company Value. Furthermore, Return on Assets does not act as a mediator for the influence of Corporate Social Responsibility on Company Value.
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