The Influence Of CSR, ROA, And Company Size On Palm Oil Stock Prices In Indonesia: A Causal Analysis (2019-2023)

Fifi Swandari, Laila Refiana Said, M. Yasir

Abstract


Palm oil is one of the plantation commodities which plays an important role in Indonesia's economic activities. This research analyzed the influence of  Corporate Social Responsibility (CSR) and other variables on companies' share prices in the oil palm plantation sub-sector.  The research started in 2019 to 2023. This type of research was causal research, with the dependent variable being stock prices and 5 independent variables. The first three independent variables were CSR components: Economic CSR Disclosure, Environmental CSR Disclosure, and Social CSR Disclosure. Company Performance/Return on Assets (ROA) and Company Size (SIZE) were the following variables. The analysis tool in this research uses SEM-PLS. This is because the data are not normal. The research results show that only the Company Size (SIZE) variable negatively influences the share prices of palm oil companies listed on the IDX. This means that investors do not yet view CSR and ROA as determining factors in share prices.

Keywords: CSR, Economic CSR Disclosure, Environmental CSR Disclosure, Social CSR Disclosure, Stock Price


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