Apakah Corporate Governance Dan Financial Performance Dapat Memoderasi Pengaruh Corporate Social Responsibility Terhadap Firm Value?

This study aims to examine the effect of CSR on Firm Value (FV) and analyzewhether Good Corporate Governance (GCG) and Financial Performance canstrengthen or weaken this influence. This study uses data on non-financialcompanies listed on the Indonesia Stock Exchange (IDX) from 2019–2021 with atotal sample of 1048 firm years. Data analysis using multiple linear regression.CSR measurement using content analysis. Firm Value is measured using StockReturn. GCG is measured using Board Size (BS), Board Independence (B-IND),Family Ownership (FMO), and Largest Ownership (L-OWN). FinancialPerformance proxies use Return on Assets (ROA) and Net Profit Margin (NPM).Empirical results show that CSR has a positive effect on Firm Value. FinancialPerformance (ROA) weakens the relationship between CSR and FV. However,GCG is unable to moderate the relationship between CSR and FV. This researchconfirms that CSR activities are essential to increase firm value and businesssustainability. Keywords: Corporate Social Responsibility; Firm Value; Good Corporate Governance; Financial Performance; Indonesi