International Journal of Entrepreneurship and Business Management

Corporate Social Responsibility as a Moderator of Financial Determinants of Firm Value

Ratih Dwi Asmaranti — 2025-08-05

This research analyzes the influence of internal financial factors namely profitability (ROE), leverage (DER), profit growth (GR), and operational cash flow (OCF) on firm value, while assessing the moderating impact of Corporate Social Responsibility (CSR) and incorporating firm size as a control variable. The study focuses on publicly listed palm oil firms on the Indonesia Stock Exchange from 2018 to 2023. Using a quantitative approach and panel data regression, it evaluates 15 companies. Findings reveal that both the Debt to Equity Ratio (DER) and firm size significantly and negatively influence firm value, as measured by the Price to Book Value (PBV) ratio. Conversely, Return on Equity (ROE), profit growth (GR), and operating cash flow (OCF) show no significant direct impact. CSR is shown to have a significant moderating effect on the relationship between DER and firm value. These findings underscore the strategic role of CSR in mitigating the adverse effects of financial leverage, particularly in sustainability-sensitive sectors.

Examining the Effect of Profitability, Corporate Governance, Firm Size, and Capital Structure on Firm Value: The Moderating Role of CSR

Defriyanti Cicilia Manik — 2025-08-21

This study analyzes the influence of determinants on company value with CSR as a moderator in Construction Companies Listed on the Indonesia Stock Exchange from 2018 to 2023. The sampling technique used in this study is purposive sampling. The sample in this study consists of 6 companies. This study uses panel data analysis with MRA in E-views 12. The results of the analysis indicate that ROE and KM do not influence company value. Firm size has a negative influence, while DER has a positive influence on company value. CSR does not have a significant influence on company value and is unable to moderate the relationship between independent variables and company value.

The Influence of Activity Ratio Factors on Profitability with Good Corporate Governance as an Intervening Variable

Yusef Farid Ali Al Vero — 2025-08-30

This study aims to test and analyze the influence of activity ratio factors including asset turnover ratio (TATO), account receivable turnover (ARTO), inventory turnover (ITO), and account payable turnover (APTO) on profitability, with good corporate governance (GCG) as a moderating variable in telecommunication companies. The population consists of 18 companies, with 7 companies meeting the criteria and selected as samples. These companies are listed on the Indonesia Stock Exchange for the period from the first semester of 2019 to the second semester of 2023. The study employs panel data regression using financial statement data. The results show that ARTO, ITO, and APTO have no significant effect on GCG, while TATO has a negative effect. ARTO has a significant negative effect on profitability (ROE), whereas ITO and TATO have negative but insignificant effects. GCG does not moderate the relationship between TATO, ARTO, ITO, and APTO and the profitability of telecommunication companies listed on the Indonesia Stock Exchange