Analisis Pengungkapan Sustainability Reporting dan Corporate Social Responsibility (CSR) terhadap Nilai Perusahaan dengan Manajemen Keuangan sebagai Variabel Mediasi
DOI:
https://doi.org/10.47747/snfmi.v3i1.3165Abstract
This study aims to analyze the influence of sustainability reporting and corporate social responsibility (CSR) on firm value, with financial management as a mediating variable. The research method uses a quantitative approach with panel data on banking companies listed on the Indonesia Stock Exchange (IDX) for the 2022–2024 period. Data were obtained from annual reports, sustainability reports, and company financial reports. Path analysis and the Sobel test were used to examine the mediating role of financial management. The results show that sustainability reporting and CSR have a negative and significant effect on both firm value and financial management. Conversely, financial management has a positive and significant effect on firm value. The mediation test revealed that financial management does not mediate the effect of sustainability reporting on firm value, but it does mediate the effect of CSR on firm value. These findings confirm that sustainability and CSR disclosure practices are not yet viewed as primary considerations by investors. Therefore, their implementation needs to be carried out consistently, credibly, and aligned with core business strategies to increase firm value, providing clear implications for practice.
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