Fundamental Analysis of Indonesian Banking Firms: Evaluating Corporate Value with CSR as a Moderating Variable

This research aims to investigate and empirically substantiate the effect of profitability, liquidity, and capital structure on firm value, with corporate social responsibility (CSR) acting as a moderating variable. Profitability is evaluated using the return on assets (ROA) ratio, liquidity is measured through the current ratio, and capital structure is represented by the debt-to-equity ratio (DER). Firm value is determined based on Tobin’s Q, whereas CSR disclosure is examined following the GRI 4 standard, which comprises 91 disclosure indicators. The study relies on financial and annual reports from banking sector companies spanning the 2018–2023 period, with a research population consisting of 47 banking firms. Using a purposive sampling approach, a final sample of 10 companies was selected. The study employs panel data regression analysis, incorporating descriptive statistical analysis, regression model selection, model suitability testing, and hypothesis testing using E-Views 13. The results indicate that profitability and liquidity significantly impact firm value, whereas capital structure does not. Additionally, CSR disclosure is found to moderate the relationship between profitability and liquidity with firm value; however, it does not moderate the effect of capital structure on firm value.