PENGARUH LUAS PENGUNGKAPAN TANGGUNG JAWAB SOSIAL DAN LINGKUNGAN
PERUSAHAAN TERHADAP EARNING RESPONSE COEFFICIENT (ERC), DENGAN
UKURAN PERUSAHAAN DAN LEVERAGE SEBAGAI VARIABEL KONTROL
This research aims at finding the empirical proofs of the extent of
Corporate Social Responsibility (CSR) disclosure effect on Earning Response
Coefisient (ERC). Samples taken in this research were manufacture corporates
listed in BEI, from 2008-2010. There were 30 corporates which met the criteria.
ERC value came from the regression between Cumulative Abnormal Return (CAR)
and Unexpected Earning (UE). The indicators of the extent of CSR disclosure
employed Global Reporting Initiative (GRI). The control variables in this research
were size (Ln Assets) and leverage (DER). The hypothesis was tested by multiple
regression method. The result shows that the extent of CSR disclosure affects
negatively on ERC. This negative effect indicates that investors may consider the
information of CSR as a deciding factor to invest
