Relationship Analysis of Corporate Governance, Corporate Social Responsibility Voluntary Disclosure and Economic Consequences: Empirical Study in the Indonesia Capital Market

Hapsoro, Dody (2018) Relationship Analysis of Corporate Governance, Corporate Social Responsibility Voluntary Disclosure and Economic Consequences: Empirical Study in the Indonesia Capital Market. International Journal of Pure and Applied Mathematics, 119 (16b). pp. 2365-2371. ISSN p-ISSN: 1311-8080 | e-ISSN: 1314-3395

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Official URL: https://acadpubl.eu/hub/2018-119-16/2/245.pdf

Abstract

The purpose of this study is to examine the effect of corporate governance (CG) mechanism on voluntary corporate social responsibility (CSR) disclosure and to examine the effect of voluntary CSR disclosure on the economic consequences (bid-ask spreads, trading volume and share price volatility). These samples included 137 companies listed on the Indonesia Stock Exchange (IDX) in the 2015 reporting period, in particular the companies that are not engaged in the exploration of natural resources and which by law are not obliged to carry out CSR. Analysis model used in this research is the analysis of SEM-PLS. The results showed that the CG mechanisms have not been able to optimally and fully in encouraging public companies in Indonesia to implement CSR activities voluntarily, so there are a lot of companies that do not provides a complete of CSR information. While the test results on the effect of voluntary CSR disclosure on the economic consequences indicates that voluntary CSR disclosure are able to reduce bid ask spreads, increase trading volume, and reduce share price volatility. This shows that investors in Indonesia positively respond to the voluntary of CSR disclosure.

Item Type: Article
Uncontrolled Keywords: CG mechanism, CSR voluntary disclosure, economic consequences
Divisions: Dosen STIE YKPN > Artikel > Jurnal
Depositing User: Pustakawan STIE YKPN
Date Deposited: 17 Jun 2019 07:02
Last Modified: 10 Dec 2019 08:08
URI: http://repository.stieykpn.ac.id/id/eprint/34

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