Corporate Social Responsibility (CSR) and Firm Value: The role of investor sentiment in green companies listed on the IDX

摘要

This study aims to examine the role of investor sentiment on the relationship between corporate social responsibility and corporate value. Based on the previous literature, CSR which is a positive signal revealed by the company will influence investor sentiment. Investors can make decisions to make investments based on signals from the company. So that it can increase the value of the company. The better the company signal, the more confident investors will be in making investment decisions, which will then have an impact on the company's higher value. The sample used in this study is the green company that is listed on the IDX as many as 12 companies. By using a regression panel data analysis, the result is CSR disclosures can increase the value of the company through the mediating role of investor sentiment.