PENGARUH CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE TERHADAP REAKSI INVESTOR DENGAN ENVIRONMENTAL PERFORMANCE RATING dan CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI

FALICHIN, Muh. Zulfa Minachul and SRI HANDAYANI, Sri Handayani (2011) PENGARUH CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE TERHADAP REAKSI INVESTOR DENGAN ENVIRONMENTAL PERFORMANCE RATING dan CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI. Undergraduate thesis, Universitas Diponegoro.

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Abstract

This study aims to analyze and provide empirical evidence of the influence between the three dimensions of disclosure of corporate social responsibility (CSR-disclosure) is based on Global Reporting Initiative (Economy, Environment, and Social) on investor reaction to the abnormal return proxies. Based on inconsistent results among previous studies, proposed a regression model with variables moderating the environmental performance rating (EnP) and corporate governance (CG) are suspected to strengthen the positive relationship between the three dimensions of CSR disclosures by the abnormal return based on the theory of agency. This research is a quantitative model using multiple regression analysis to determine the direction and effect relationship dependent and independent variables. Models with moderating variables were analyzed with multiple regression analysis method of absolute difference value. Multiple regression analysis conducted on 17 samples of non-financial and non-banking companies period of 2008-2010 which followed the Rating Program for Environmental Management in Companies (PROPER), because in fact not all companies listed on the Stock Exchange following the PROPER. The result showed that the higher the economic dimension of CSR disclosures increase the value commulative abnormal return (CAR) significantly. There is an increasing CSR disclosure of Environmental and Social dimensions of each lower and increase the value of CAR is not significant. Variable EnP unable to moderate the relationship the three dimensions of CSR with CAR, while the interaction of CSR-disclosure Economic dimension with positive effect on CAR CG, but CG was not able to strengthen the positive relationship between CSR disclosure Economic dimension with CAR. In addition, CG could reinforce negative correlation dimension of CSR disclosure Environment by CAR, whereas the social dimension of CSR disclosure relationship can not be strengthened or weakened by the CG.

Item Type:Thesis (Undergraduate)
Additional Information:Economic dimension of Corporate Social Responsibility Disclosure, Environmental dimensions of Corporate Social Responsibility Disclosure, Social dimension of Corporate Social Responsibility Disclosure, cumulative abnormal return, environmental performance, rating, corporate governance.
Uncontrolled Keywords:Economic dimension of Corporate Social Responsibility Disclosure, Environmental dimensions of Corporate Social Responsibility Disclosure, Social dimension of Corporate Social Responsibility Disclosure, cumulative abnormal return, environmental performance, rating, corporate governance.
Subjects:H Social Sciences > HN Social history and conditions. Social problems. Social reform
H Social Sciences > HF Commerce > HF5601 Accounting
Divisions:Faculty of Economics and Business > Diploma in Accounting
ID Code:27877
Deposited By:Mr. Perpustakaan Fakultas Ekonomi
Deposited On:19 May 2011 10:00
Last Modified:19 May 2011 10:00

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