Investors Psychology: Mediator of CSR and Market Capitalization

2nd Annual Applied Science and Engineering Conference

工业技术;自然科学

Rusdi, N.H.^1 ; Primiana, I.^2 ; Sule, E.T.^2 ; Cahyandito, M.F.^2

Doctorate Program in Management Science, Faculty of Economics and Business, Padjadjaran University, Indonesia^1

Department of Management and Business, Faculty of Economics and Business, Padjadjaran University., Indonesia^2

关键词: Causality analysis;    Indonesia;    Institutional investors;    Market capitalization;    Quantitative data;   

Others  :  https://iopscience.iop.org/article/10.1088/1757-899X/288/1/012106/pdf
DOI  :  10.1088/1757-899X/288/1/012106

来源: IOP

【 摘 要 】

The implementation of CSR program which is on telecommunication industries in Indonesia has still many linkages to business advantages. CSR program is considered to be important variable in investors psychology, whereas the implementation has not been optimum to be conducted by telecommunication industries in Indonesia actually. It reviews from that phenomenon for investors psychology, so the study focuses on the implementation of CSR on investors psychology and its impact to market capitalization. This study is conducted through survey of 69 institutional investors in Indonesia. It is conducted a causality analysis by using quantitative data. The study review is stated that CSR program is unable to change market capitalization directly. However, investors psychology is stated to be able to mediate the correlation of CSR in market capitalization. This finding is useful for telecommunication industries generally and for government also in taking policy which relates to CSR in Indonesia.