Influence Of Ownership Structure On Company Value Withcorporate Social Responsibility (Csr) As A Moderating Variable(Studies On Mining Companies Listed On The Indonesia Stock Exchange 2021–2024)
Keywords:
Managerial Ownership; Institutional Ownership; Corporate Values; Corporate Social Responsibility (CSR).
Abstract
This study aims to analyze the influence of ownership structure on company value with Corporate Social Responsibility (CSR) as a moderating variable in mining companies listed on the Indonesia Stock Exchange for the 2021–2024 period. Ownership in this study consists of managerial ownership and institutional ownership, while company value is measured using Price to Book Value (PBV). This study uses a quantitative approach with purposive sampling technique. From a total of 49 mining companies, 18 companies were obtained as samples with 72 observations. Research data is secondary data obtained through financial reports and annual reports. Data analysis techniques used Moderated Regression Analysis (MRA). Research results show that managerial ownership has a positive and significant effect on company value, while institutional ownership does not have a significant effect on company value. In addition, CSR is proven capable of moderating and strengthening the influence of managerial ownership on company value, but CSR is not capable of moderating the influence of institutional ownership on company value. These results indicate that managerial ownership and CSR disclosure play an important role in increasing company value, especially in the mining sector.
References
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Jamil, S., N.R., E., & Afriyenti, M. (2019). The Effect of Institutional Ownership on Firm Value Moderated by Corporate Social Responsibility. Journal of Accounting Exploration, 1(1), 487–503.
Malino, M.R.Y.D., & Wirawati, N.G.P. (2017). The Effect of Profitability and Managerial Ownership on Firm Value with CSR Disclosure as a Moderating Variable. E-Journal of Accounting, 21(3), 2052–2080.
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Ridwan, M., & Olimsar, F. (2020). The Effect of Capital Structure, Institutional Ownership, and Managerial Ownership on Firm Value. PROKSI Journal, 3(3), 63–73.
Sitanggang, D.P.L., & Chusnah, F.N. (2020). The Effect of Profitability, Leverage, and Managerial Ownership on Firm Value with Corporate Social Responsibility as a Moderating Variable. Ekonomis: Journal of Economics and Business.
Tambalean, F.A.K., Manossoh, H., & Runtu, T. (2018). The Influence of Managerial Ownership and Institutional Ownership on Company Value in Consumer Goods Industry Companies on the IDX. Going Concern: Journal of Accounting Research, 13(4), 465–473.
Widianingsih, D. (2018). Managerial Ownership, Institutional Ownership, Independent Commissioners, and Audit Committee on Company Value with CSR Disclosure as a Moderating Variable. Journal of Accounting and Taxation, 19(1), 38–52.
Yuliusman, Y., & Kusuma, I.L. (2020). The Relationship between Good Corporate Governance and Firm Value Moderated by Corporate Social Responsibility Disclosure and Profitability. Journal of Accounting and Taxation, 21(01), 91–102.
Yusra, M.S. (2021). The Effect of Managerial Ownership and Institutional Ownership on Company Value in the Food and Beverage Industry on the IDX for the 2015-2019 Period. University of Jambi.
Adhima, M.F., & Indriastuti, M. (2022). Analysis of the Influence of Ownership Structure and Liquidity on Corporate Social Responsibility Disclosure with an Independent Board of Commissioners as a Moderating Variable. Sultan Agung Scientific Journal, (September), 81–99.
Afifah, N., Astuti, S.W.W., & Irawan, D. (2021). The Influence of Corporate Social Responsibility (CSR) and Corporate Reputation on Firm Value. EKUITAS (Journal of Economics and Finance), 5(3), 346–364.
Anita, A., & Yulianto, A. (2016). The Effect of Managerial Ownership and Dividend Policy on Firm Value. Management Analysis Journal, 5(1).
Bernandhi, R., & Muid, A. (2014). The Effect of Managerial Ownership, Institutional Ownership, Dividend Policy, Leverage, and Company Size on Company Value. Vol. 3, 1–14.
Borghesi, R., Chang, K., & Li, Y. (2019). Firm Value In Commonly Uncertain Times: The Divergent Effects Of Corporate Governance and CSR. Applied Economics, 51(43), 4726–4741.
Br Purba, N.M., & Effendi, S. (2019). The Effect of Managerial Ownership and Institutional Ownership on Company Value in Manufacturing Companies Listed on the IDX. Barelang Accounting Journal, 3(2), 64–74.
Dewi, L.S., & Abundanti, N. (2019). The Effect of Profitability, Liquidity, Institutional Ownership, and Managerial Ownership on Firm Value. 8(10), 6099–6118.
Ermanda, M., & Puspa, D.F. (2022). The Influence of Institutional Ownership, Sustainability Reports, and Intellectual Capital on Firm Value. Journal of Accounting and Auditing Studies, 17(2), 135–147.
Fadhilah, R., Idawati, W., & Praptiningsih. (2021). The Effect of Company Size, Profitability, Leverage, and Institutional Ownership Structure on Company Value with Corporate Social Responsibility as a Moderating Variable. Jurnal Akunida, 7(2), 190–204.
Ghozali, I. (2018). Multivariate Analysis Application with IBM SPSS 25 Program (9th Ed). Semarang: UNDIP.
Hartana, I.B.P.R., & Putra, N.W.A. (2017). The Effect of Managerial Ownership and Institutional Ownership on Firm Value with Corporate Social Responsibility as a Moderator. 21(3), 1903–1932.
Israel, C., Mangantar, M., & Saerang, I.S. (2018). The Effect of Capital Structure, Institutional Ownership, and Company Size on Company Value in Mining Companies Listed on the IDX. EMBA Journal, 6(3), 1118–1127.
Jamil, S., N.R., E., & Afriyenti, M. (2019). The Effect of Institutional Ownership on Firm Value Moderated by Corporate Social Responsibility. Journal of Accounting Exploration, 1(1), 487–503.
Malino, M.R.Y.D., & Wirawati, N.G.P. (2017). The Effect of Profitability and Managerial Ownership on Firm Value with CSR Disclosure as a Moderating Variable. E-Journal of Accounting, 21(3), 2052–2080.
Nuryono, M., Wijayanti, A., & Samrotun, Y.C. (2019). The Influence of Managerial Ownership, Institutional Ownership, Independent Commissioners, Audit Committees, and Audit Quality on Firm Value. Edunomika, 03(01), 199–212.
Pratama, A., Mukhzarufda, H., & Yudi. (2021). Effect of Ownership Structure, Growth Company on Firm Value With Profitability as an Intervening Variable. Journal of Accounting and Finance, University of Jambi, 6(3), 199–210.
Putra, W.E., Safelia, N., Tiswiyanti, W., & Olimsar, F. (2022). Corporate Social Responsibility & Tax Avoidance (Sharia Company Perspective). ADAB Publisher.
Rahmatia, T.L. (2015). The Influence of Managerial Ownership on Company Value: Corporate Social Responsibility Disclosure as a Moderator. Journal of Accounting Science & Research, 4(3), 1–15.
Ridwan, M., & Olimsar, F. (2020). The Effect of Capital Structure, Institutional Ownership, and Managerial Ownership on Firm Value. PROKSI Journal, 3(3), 63–73.
Sitanggang, D.P.L., & Chusnah, F.N. (2020). The Effect of Profitability, Leverage, and Managerial Ownership on Firm Value with Corporate Social Responsibility as a Moderating Variable. Ekonomis: Journal of Economics and Business.
Tambalean, F.A.K., Manossoh, H., & Runtu, T. (2018). The Influence of Managerial Ownership and Institutional Ownership on Company Value in Consumer Goods Industry Companies on the IDX. Going Concern: Journal of Accounting Research, 13(4), 465–473.
Widianingsih, D. (2018). Managerial Ownership, Institutional Ownership, Independent Commissioners, and Audit Committee on Company Value with CSR Disclosure as a Moderating Variable. Journal of Accounting and Taxation, 19(1), 38–52.
Yuliusman, Y., & Kusuma, I.L. (2020). The Relationship between Good Corporate Governance and Firm Value Moderated by Corporate Social Responsibility Disclosure and Profitability. Journal of Accounting and Taxation, 21(01), 91–102.
Yusra, M.S. (2021). The Effect of Managerial Ownership and Institutional Ownership on Company Value in the Food and Beverage Industry on the IDX for the 2015-2019 Period. University of Jambi.
Published
2026-06-12
How to Cite
Sonia, R. E., Fitrini Mansur, Reka Maiyarni, & Nela Safelia. (2026). Influence Of Ownership Structure On Company Value Withcorporate Social Responsibility (Csr) As A Moderating Variable(Studies On Mining Companies Listed On The Indonesia Stock Exchange 2021–2024). International Journal of Education, Vocational and Social Science , 5(03), 944-958. https://doi.org/10.63922/ijevss.v5i03.4079
Contact Person +6282139474255
Email : ijevss@citakonsultindo.or.id / editor.ijevss@gmail.com
