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Abstract: This study examines the effect of corporate social responsibilities (CSR) on the financial sector firms' value in Indonesia. Furthermore, this research also tries to prove the differences in CSR expenditures between firms that are politically connected and those that are not connected. There are five sub-sectors in the Financial sector: banking, insurance, financing, others, and securities. The final sample size is 437 firm annual reports from 2014 to 2021. The results show that CSR influences firm value positively and significantly. Another interesting finding is the significant difference in CSR expenditure between politically and non-politically connected firms.DOI: https://doi.org/10.51505/IJEBMR.2023.7816
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