Pengaruh Corporate Social Responsibility, Struktur Modal, Kepemilikan Manajerial dan Profitabilitas terhadap Nilai Perusahaan dengan Investment Opportunity Set sebagai Variabel Moderasi pada Perusahaan Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia

Abstract

Company value is defined as market value because the it can provide maximum prosperity for shareholders once the company's stock price increases. This research aims to analyze the effects of corporate social responsibility, capital structure, managerial ownership, and profitability on company while at the Property and Real Estate companies listed on the Indonesia Stock Exchange from 2016 untill 2021. In addition, this research tests the variable of invesment opportunity set which is used as a moderating variable in the research model. The research population is the Property and Real Estate companies listed on the Indonesia Stock Exchange from 2016 until 2021. The target population selected consist of 35 companies, which become the research samples. The number of observations is 210 observations. Secondary data are employed in this research and hypothesis is tested using panel data regression analysis namely multiple linear regression test and interaction moderation test with the aid of Eviews software. THe results indicate that corporate social responsibility, managerial ownership and profitability have a significant and positive effect on company value respectively, while the capital structure does not have a significant effect on company value. The results also indicate that the investment opportunity set is able to moderate the effect of capital structure and profitability on company value. However, the investment opportunity set is not able to moderate the effect of corporate social responsibility and managerial ownership on company value.