The Effect of Corporate Social Responsibility, Funding Decisions, and Firm Size on Firm Value with Good Corporate Governance as A Moderation Variable in Transportation Sub-Sector Companies Listed Under Bumn for Period 2019-2023

This study aims to evaluate the effect of corporate social responsibility (CSR), funding decisions, and company size on firm value, with good corporate governance as a moderation variable. The focus of the research is on transportation sub-sector companies listed under state-owned enterprises (BUMN) during the period 2019–2023. The sample was selected using a purposive sampling technique, resulting in a total of 55 data observations. The data were analysed using descriptive statistical analysis, classical assumption tests, and multiple linear regression analysis. Additional analyses included the coefficient of determination (R²), t-test, F-test, and Moderated Regression Analysis (MRA), utilizing SPSS as the analytical tool. The result of this study indicate that both corporate social responsibility and firm size have a significant positive effect on firm value. In contrast, funding decisions do not have a significant influence on the value of the company. In addition, good corporate governance is not able to strengthen the relationship between CSR and company value, however, it successfully moderates the influence of funding decisions and firm size on firm value.