The impact of corporate social responsibility, corporate value, and profitability on the share prices of Sri Kehati Index Companies from 2016 to 2020




Corporate Social Responsibility, Corporate Value, Profitability, Share Prices, Sri Kehati Index


Investor interest in a company can be measured by changes in the share price of each company. This research will test and analyse the impact of corporate social responsibility, profitability and enterprise value on share prices. The share price becomes an attraction for investors and becomes the basis for the valuation of the company, which can be observed from the rising or falling share price trend. The data source uses secondary data in annual financial and sustainability reports of each company listed on the Indonesia Stock Exchange (IDX) and Sri Kehati Index, respectively, in 2016 - 2020. The data analysis method uses panel data regression, which was conducted in stages to determine the most appropriate regression model, and finally fixed effect was selected. The results of the study show that the variables of profitability and firm value affect stock prices, while social responsibility does not.


Download data is not yet available.


Bayrakdaroglu, A., Mirgen, C., & Kuyu, E. (2017). Relationship Between Profitability Ratios and Share prices: An Empirical DOI:

Analysis on BIST-100. PressAcademia Procedia, 6(1), 1-10.

Cooper, R. D., & Schindler, P. S. (2011). Business Research Methods, Twelfth Edition. New York: McGraw-Hill Companies, Inc.

Fahmi, M., & Purmawan, H. (2017). Pengaruh Pengungkapan Corporate Social Responsibility Terhadap Harga Saham Perusahaan Pertambangan Yang Terdaftar Di BEI. Jurnal Akuntansi, 1(2), 295-301. DOI:

Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2014). Multivariate Data Analysis, 7th edition. New Jersey: Pearson Education Inc.

Hendrayani, A. A. D., Wiagustini, N. L. P., & Sedana, I. B. P. (2017). Pengaruh Pengungkapan Corporate Social Responsibility Dan Leverage Terhadap Harga Saham: Profitabilitas Sebagai Pemoderasi. E-Jurnal Ekonomi dan Bisnis, 6, 11, 3765-3794. DOI:

Hoechle, D. (2007). Robust standard errors for panel regressions with cross-sectional dependence. The Stata Journal, 7(3), 281-312. DOI:

Hunjra, A. I., Shahzad, M., Chani, M. I., Hassan, S. U., & Mustafa, U. (2014). Impact of Dividend Policy, Earning per Share, Return on Equity, Profit after Tax on Share prices. International Journal of Economics and Empirical Research, 2(3), 109–115.

Laurens, S. (2018). Influence Analysis of DPS, EPS, and PBV toward Stock Price and Return. Journal the winners, 19(1), 21-29. DOI:

Munawaroh, A., & Priyadi, M. P. (2014). Pengaruh profitabilitas terhadap nilai perusahaan dengan corporate social responsibility sebagai variabel moderating. Jurnal Ilmu & Riset Akuntansi, 3(4), 1-17.

Putra, I., & Wiagustini, N. (2014). Pengaruh Leverage dan Profitabilitas Terhadap Kebijakan Dividen dan Nilai Perusahaan. E-Jurnal Manajemen, 3(9).

Ratih, D., Prihatini, A. E., and Saryadi, S. (2013). Pengaruh EPS, PER, DER, ROE terhadap Harga Saham pada Perusahaan Sektor Pertambangan yang Terdaftar di Bursa Efek Indoensia (BEI) Tahun 2010- 2012. Jurnal Ilmu Administrasi Bisnis, 3(1), 83-94.

Rosada, F. L. A., & Idayati, F. (2017). Pengaruh profitabilitas terhadap nilai perusahaan otomotif di Bursa Efek Indonesia. Jurnal Ilmu dan Riset Akuntansi (JIRA), 6(1).

Salim, M. N., & Firdaus, Z. (2020). Determinants of Firm Value and its Impact on Share prices (Study in Consumer Good Public Company in IDX 2014-2018). Dinasti International Journal of Education Management And Social Science, 2(1), 41-54. DOI:

Susilowati, E. M. (2015). The Effect of Return on Asset, Return on Equity, Net Profit Margin, and Earning Per Share on Stock Price. Eksplorasi, 28(1).

Utomo, A. S. (2019). Pengaruh CSR, ROI, ROE Terhadap Harga Saham Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Jurnal PETA, 4(1), 82-94. DOI:

Wicaksono, R. B. (2015). Pengaruh EPS, PER, DER, ROE dan MVA terhadap Harga Saham. Jurnal Akuntansi, (5), 1–13.




How to Cite

Yuana, P. (2023). The impact of corporate social responsibility, corporate value, and profitability on the share prices of Sri Kehati Index Companies from 2016 to 2020. International Journal of Research in Business and Social Science (2147- 4478), 12(7), 254–262.



Financial and Economic Studies