The Influence of CSR on Firm Value: Empirical Study on Manufacturing Companies Listed in Indonesian Stock Exchange 2010-2014

The purpose of this study is to provide empirical findings about the influence of corporate social responsibility (CSR) on firm value on manufacturing companies listed on Indonesia Stock Exchange years after the implementation based on its CSR spending. The common assumption is that the relationship is only direct the on the same year after the activities. The samples of this research are 112 manufacturing companies listed on the Indonesia Stock Exchange from period 2010 to 2014. The independent variable for this research is the CSR implementation from 2010 to 2014. The dependent variable is the firm value from 2012 to 2014 measured using Tobin’s Q. Analysis method that used in this research is quantitative method with multiple regressions. This research concludes that the CSR implementation influence the firm value with 5% level of significant. Results of hypothesis testing showed that the CSR influence not only in the year of the implementation but also one year after that. Keyword: Corporate Social Responsibility (CSR), Firm Value, Tobin’s Q, Spendin