THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE TO THE MARKET REACTION WITH PROFITABILITY AS MODERATING VARIABLE
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Institusion
Universitas Atma Jaya Yogyakarta
Author
Plautilda Maturbongs, Debora
Subject
Public Sector Accounting
Datestamp
2016-02-02 12:07:06
Abstract :
The research examines the impact of profitability as moderating variable to the relationship of CSR disclosure and the market reaction. Using 105 samples that are taken form 15 listed resource-based firms from 2007-1013, it was found that the profitability does positively impact the relationship of CSR disclosure to the market reaction. The result also implies that both firms and investors are concerned about the CSR disclosure. More profitability enables firms to conduct more CSR activities to eventually be reported in the firms? annual reports that will be used by investors in making investment decision. Investors are attracted to the firms that disclose more CSR activities, and higher profitability will be appreciated more by the investors because it means that in addition to generating high profit, firms are also capable of doing more CSR activities.
The research examines the impact of profitability as moderating variable to the relationship of CSR disclosure and the market reaction. Using 105 samples that are taken form 15 listed resource-based firms from 2007-1013, it was found that the profitability does positively impact the relationship of CSR disclosure to the market reaction. The result also implies that both firms and investors are concerned about the CSR disclosure. More profitability enables firms to conduct more CSR activities to eventually be reported in the firms? annual reports that will be used by investors in making investment decision. Investors are attracted to the firms that disclose more CSR activities, and higher profitability will be appreciated more by the investors because it means that in addition to generating high profit, firms are also capable of doing more CSR activities.
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