The influence of independent commissioners, leverage, and corporate social responsibility disclosure strategy on firm value

This research aims to investigate and provide an overview and explanation of companies operating in the infrastructure sector, particularly in construction, and their role in the economic development of Indonesia. It also empirically tests and finds evidence related to factors influencing a firm’s value. The variables in this study consist of independent commissioners, leverage, corporate social responsibility (CSR) disclosure, firm value, and firm size. The research method employs a quantitative approach using secondary data sources from the annual report, Osiris (a system that contains data sources providing information such as financial reports, etc.), and sustainability reports listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. The results indicate that the variables of independent commissioners and leverage do not significantly influence the firm’s value, neither positively nor negatively Similarly, the firm size as a moderation variable also does not have a significant impact on the firm’s value. Meanwhile, CSR disclosure has a significant positive impact on firm value, which greatly influences the enhancement of the company’s reputation among stakeholders, and investors, The higher the level of CSR disclosure, the higher the firm’s value, this is because investors and consumers tend to be more interested in companies that actively contribute to CSR initiatives.