Digital Technology and CSR Disclosure on Firm Value Moderated by
Financial Flexibility and Firm Size

Digital Technology and CSR Disclosure on Firm Value Moderated by
Financial Flexibility and Firm Size

CSR disclosure, Digital technology disclosure, Financial flexibility, Firm size,
Firm value.

This study aimed to examine the effect of digital technology and corporate social responsibility (CSR)
disclosure on firm value moderated by financial flexibility and firm size. The data collected quali
tatively from company websites were analyzed using quantitative content analysis. The moderating
impact of financial flexibility and firm size was tested using the Moderating Regression Analysis
(MRA) model. Moreover, a criteria-based method was employed to determine samples comprising
135 banking companies listed on the Indonesia Stock Exchange for 2019-2021. The results showed that
digital technology and CSR disclosure positively affect firm value. This means the company website
information demonstrates to stakeholders that management has optimized resources, implemented
innovative models, and increased business efficiency, quality, and consistency. Therefore, it provides
a good reputation to investors and potential investors. Other findings showed that financial flexibility
and firm size moderate the relationship between CSR disclosure and firm value. The two variables
also strengthen the relationship between CSR disclosure and firm value. However, firm size weakens
the effect of digital technology disclosure on firm value. Financial flexibility does not moderate the
effect of digital technology disclosure on firm value. This study has implications for the management
to focus on information quality and quantity in digital technology and CSR in fulfilling the stake
holders’ decision-making needs

Maulana Fitri Agustin Nur Wahyuni, Erwin Saraswati, Arum Prastiwi

https://jurnal.unmer.ac.id/index.php/jkdp/

Faculty of Economics and Business, Brawijaya University, Malang

2023-07-20

Fajar Bagus W

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