Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Harga Saham Indeks Sri Kehati Dengan Profitabilitas Sebagai Pemoderasi

Abstract

 Interest in learning to invest has become one of the most popular search topics in Indonesia since the Covid-19 pandemic.  Of the several indices listed on the Indonesia Stock Exchange, the Sri Kehati Index is an index that assesses the performance of 25 companies that apply the principle of sustainable investment.  Demands related to CSR disclosure are currently increasingly realized by the company as a form of concern for the interests of stakeholders.  For investors, CSR reports can be considered in investment decisions in stocks.  Companies that have high profitability, will have adequacy in CSR disclosure funding. This research aims to find out and analyze the influence of CSR disclosure of economic, curved, and social aspects on the stock price of Sri Kehati Index company with profitability (Return On Equity) as a moderation variable.  The population in this study is all companies that are members of the Sri Kehati index of 25 companies.  Teknik sampling using purposive sampling so that samples were obtained as many as 14 companies.  The data is analyzed using multiple linear regression analysis techniques. Hypotheses are tested using the t test and the MRA test. The results of the analysis showed that partially (uji t) csr disclosure of environmental and social aspects had a positive and significant effect on the Share Price of Sri Kehati Index while CSR disclosure of economic aspects had a negative and insignificant effect on The Sri Kehati Index Stock Price. The results of the moderation test (MRA) showed that the role of Return On Equity in moderating CSR Disclosure of environmental aspects had a positive and significant effect on the Sri Kehati Index Stock Price while the Role  of Return On Equity in moderating CSR Disclosure of economic and social aspects had a negative and insignificant effect on the Stock Price of Sri Kehati Index companies.

Keywords: Economic CSR, Environmental CSR, Social CSR, Return On Equity, Sri Kehati Index Company Stock Price