CORPORATE SOCIAL RESPONSIBILITY (CSR) AND STOCK PERFORMANCE: A LITERACY REVIEW

Abstract

This study aims to provide a summary of the company's implementation of corporate performance. This study uses the Systematic Literature Review (SLR) approach with an article period of 2008-2025, which includes 30 articles. The largest number of articles published was in 2017, with a total of 5 articles. This study found a significant relationship between CSR disclosure and stock performance. Good or positive CSR disclosure can increase a company's stock price and return, CSR can also increase the company's competitive advantage, and attract investors to care about the social and environmental impacts produced. In addition, company profitability can be a driving factor for companies to be more active in disclosing social and environmental information. Companies with high profitability levels can allocate more funds for CSR activities, so that the disclosure of this information is better. This study also identified several challenges in implementing CSR, such as the company's view that CSR is merely an obligation, the priority on achieving short-term financial performance, and the high cost of implementation. This study suggests that companies explore CSR disclosure in their activities as one way to improve the company's stock performance.

Keywords: Corporate Social Responsibility (CSR), Stock Performance, Stock Return