CORPORATE SOCIAL RESPONSIBILITY (CSR) PERFORMANCE AND INVESTMENT EFFICIENCY: THE ROLE OF CHARACTERISTIC OF AUDIT COMMITTEE AS MODERATING VARIABLE

Abstract

The purpose of this research is to analyze the effect of Corporate Social Responcibility (CSR) performance as well as it’s impact on the company investment efficiency with Audit Committee characteristic as moderating variable. The corporate social responcibility (CSR) performance used in this study are Environtmental, Social, Governance (ESG) disclosure which is obtained from database released by Bloomberg. Audit Committee characteristic in this study is size of Audit Committee based on the number of Audit Committee members. The population in this study is non-financial companies listed on the Indonesia Stock Exchange in the 2014-2017 periods. Based on the purposive sampling method, 29 companies were selected with a total of 116 elections. Data analysis in this study uses e-views 9. The results of this study indicate that companies with increased CSR have positive and significant increases in investment efficiency. Characteristics of the Audit Committee are able to moderate the increasing of CSR performance in investment efficiency.