The Role of Corporate Social Responsibility Disclosure Moderates The Relationship Between Capital Structure, Growth Opportunity, Capital Expenditure and Manager Incentives on Firm Value

Abstract

Purpose – The objective of this study is to examine and analyze
the role of Corporate Social Responsibility Disclosure in
moderating the relationship between Capital Structure, Growth
Opportunity, Capital Expenditure, and Managerial Incentives on
Firm Value.
Research Methodology/Approach This study employs a
descriptive research method. The population in this study
consists of food and beverage sector companies listed on the
Indonesia Stock Exchange, totaling 100 companies as of 2023.
The research sample consists of 18 companies over a study
period of 5 years, resulting in a total sample size of 90 (18
companies x 5 years).
Findings – This study indicate that 1) Capital Structure has a
negative and significant effect on Firm Value. 2) Growth
Opportunity has no effect and is not significant on Firm Value. 3)
Capital Expenditure has a positive and significant effect on Firm
Value. 4) Managerial Incentives have a positive and significant
effect on Firm Value. 5) Capital Structure, Growth Opportunity,
Capital Expenditure, and Managerial Incentives collectively or
simultaneously influence Firm Value. 6) Corporate Social
Responsibility Disclosure can moderate the relationship
between Capital Structure and Firm Value. 7) Corporate Social
Responsibility Disclosure cannot moderate the relationship
between Growth Opportunity and Firm Value. 8) Corporate
Social Responsibility Disclosure can moderate the relationship
between Capital Expenditure and Firm Value. 9) Corporate
Social Responsibility Disclosure can moderate the relationship
between Managerial Incentives and Firm Value.