Moderate of financial flexibility and research and development investment: corporate social responsibility disclosure on firm value

This study aims to examine and explain the effect of Corporate Social Responsibility Disclosure on firm value and the role of financial flexibility and Research and Development Investment in moderating the effect of Corporate Social Responsibility Disclosure on firm value. This study uses a quantitative approach, namely numerical analysis with an associative design because it examines the relationship between more than two variables. The population of this study are basic and chemical industry sector companies listed on the Indonesia Stock Exchange (IDX) during the 2018-2023 period. The method of determining the sample using purposive sampling, so that 198 total observations were obtained. The data collection method uses observation with secondary data sources from the official website of the Indonesia Stock Exchange and and from sustainability reporting publications through the site www.globalreporting.org. The analysis technique used is Partial Least Square (PLS) based on Structural Equation Modeling (SEM). The results of the analysis prove that CSR Disclosure has a positive effect on firm value, financial flexibility is able to moderate by strengthening the effect of CSR Disclosure on firm value, and Research And Development Investment is able to moderate by strengthening the effect of CSR Disclosure on firm value.