The Influence of CSR, Board Gender Diversity, and Cash Holding towards Company Value
Case Study of the Company Listed on the SRI-KEHATI Index on the Indonesia Stock Exchange 2018-2023
Keywords:
CSR, Board Gender Diversity, Cash Holding, Firm Value, SRI KEHATI
Abstract
In the rise of sustainable and responsible investment, this study aims to analyze and provide empirical evidence about the importance of firm’s CSR activities, board gender diversity, and cash holding in shaping the firms’ value. Those variables aligned with the firm’s performance of social and environmental, corporate governance, and financial aspect, thus suitable to be further analyzed with the study object.
This research uses objects of firms listed in SRI-KEHATI Index listed on Indonesia Stock Exchange during 2018 – 2022. Purposive method is used to select the sample, then the secondary data is collected from Indonesia Stock Exchange and companies’ website before analyzed quantitatively by using E-views.
This research shows evidence that CSR, board gender diversity, and cash holding have significant effect on firm value simultaneously. However, partial testing shows that only the board gender diversity is significantly affected firm value while CSR and cash holding are not. Besides contributing to the literature, this result shows the necessity of firm to perform the best managerial decision in social and environmental, corporate governance, and financial policy as whole. Especially, the diversity of board which plays an important role in governing the firms. This implication also applies to the regulator and investor, in which every stakeholder can encourage awareness of those aspects to maximize the value of sustainable investment.
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He, L., He, R., & Evans, E. (2020). Board influence on a firm’s long-term success: Australian evidence. Journal of Behavioral and Experimental Finance, 27. https://doi.org/10.1016/j.jbef.2020.100327
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Jabbouri, I., & Almustafa, H. (2021). Corporate cash holdings, firm performance and national governance: evidence from emerging markets. International Journal of Managerial Finance, 17(5), 783–801. https://doi.org/10.1108/IJMF-07-2020-0342
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La Rocca, M., & Cambrea, D. R. (2019). The effect of cash holdings on firm performance in large Italian companies. Journal of International Financial Management and Accounting, 30(1), 30–59. https://doi.org/10.1111/jifm.12090
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Lismawati, S. R., Utomo, C. H., & Fauziah, F. (2022). Influence of Cash Holding and Dividend Against Firm Value on Property Company and Real Estate Listed on the Indonesia Stock Exchange. International Journal of Quantitative Research and Modeling, 3(2), 87–93. https://journal.rescollacomm.com/index.php/ijqrm/index
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Published
2024-06-29
How to Cite
Utami, E., & Sofia, I. (2024). The Influence of CSR, Board Gender Diversity, and Cash Holding towards Company Value. JASS (Journal of Accounting for Sustainable Society), 6(1), 49-63. https://doi.org/10.35310/jass.v6i1.1237
Section
Table of Contents
Program Studi Akuntansi