CORPORATE SOCIAL RESPONSIBILITY TIDAK MEMPENGARUHI CORPORATE FINANCIAL PERFORMANCE DENGAN RISK SEBAGAI VARIABEL MEDIASI PERUSAHAAN FARMASI
Keywords:
Corporate Financial Performance, Corporate Social Responsibility, RiskAbstract
In the chemical, pharmaceutical and traditional medicine industries, the growth rate of the 2,017-201·8 quarter experienced a decline, but in the third quarter of 2018 it experienced an unstable increase until 2020 and the highest growth rate was achieved in the third quarter of 2\020 of 14.96%. The highest net income . achievement was obtained by PT Kalbe Farma Tbk in 2017-2020 at 1,570,280,116,839 and the highest share price movement in 2020 was achieved by PT Kimia Farma Tbk at 4250/share due to the increase in demand for medicines and supplements in the face of the COVID-19 pandemic. 19. The purpose of this study was to analyze the effect of CSR on CFP with risk as a mediating variable and firm size, leverage and age as control variables. This study uses a purposive sampling method with a sample of 8 companies with criteria for the pharmaceutical sub-sector that are actively listed on the Indonesia Stock Exchange, the pharmaceutical sub-sector that includes consecutive annual reports, and the pharmaceutical sub-sector that consistently discloses CSR activity reports during the 2017-2017 period. 2020. Using the Least Square Panel (PLS) model. The results showed that CSR had no effect on CFP, CSR had a significant positive effect on risk, and risk could not mediate the relationship between CSR and CFP. the industrial sector is expected to not only carry out CSR as required but must go beyond it and not as a burden or voluntarily, in order to obtain a high CSR value and be able to reduce company risk. It is also hoped that regulators can design regulations to reduce the occurrence of increased risk and discrimination.References
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