PENGARUH PENERAPAN TATA KELOLA DAN BIAYA CSR TERHADAP NILAI PERUSAHAAN DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL MEDIASI

This research analyzes the effect of corporate governance and corporate social responsibility (CSR) on the firm’s value with financial performance as a mediation variable. The theory used agency and signaling theories to explain the relationship between independent, mediating, and dependent variables. Firm value was measured by price to book value. The sample used mining industry, and the research period was 2020 – 2023. The data analyses used descriptive statistics and multiple linear regressions. The result shows that corporate governance is not significant to the financial performance and firm value. CSR expenses are positively significant to financial performance but are not significant to the firm's value. Financial performance is positive and significant to the firm’s value. Financial performance cannot mediate corporate governance and CSR expense to the firm’s value. This research implies that the regulation must verify the self-assessment to ensure corporate governance practice. The study adds to the literature by empirically proving the direct and indirect influences of corporate governance and CSR expense on firm value.