CORPORATE VALUES: THE ROLE OF CORPORATE SOCIAL RESPONSIBILITY, MANAGERIAL OWNERSHIP AND PROFITABILITY IN INDONESIA

ABSTRACT: Corporate value is a value that reflects the value of equity and the book value of the corporate,both in the form of market equity, the book value of total debt and the book value of total equity. In increasingthe value of the corporate so that it can be achieved well, surely there must be cooperation between theshareholders’ management in making the right decision in order to maximize its capital. This study aims toexamine the effect of managerial ownership and profitability, on firm value. In addition, this study also aims toexamine the moderating role of CSR disclosure in strengthening the effect of managerial ownership andprofitability, on firm value. The analysis technique used is a moderation regression analysis using the IBMSPSS version 20. The study population is a manufacturing corporate sub-sector of consumer goods industrylisted on the Indonesia Stock Exchange (BEI) 2016-2019 period and the sample was selected using a purposivesampling technique with a total sample of observations as many as 14 issuers. The results showed thatmanagerial ownership had a significant negative effect on firm value. Profitability gives a significant positiveeffect on firm value and firm size has a negative effect on firm value. CSR disclosure can prove to strengthenthe relationship of profitability to the value of the corporate but CSR weakens the relationship betweenmanagerial ownership and corporate size to the value of the corporate.

Keywords: Managerial Ownership, Profitability, Corporate Value, Corporate Social Responsibility