The Effect of CSR Disclosure, Dividend Policy, and Profitability on Stock Prices of IDX Banking Companies 2022–2024

Abstract

This study aims to analyze the effect of Corporate Social Responsibility (CSR) disclosure, dividend policy, and profitability on the stock prices of banking companies listed on the Indonesia Stock Exchange (IDX) for the 2022–2024 period and to provide insights into the factors influencing stock price movements in the banking sector. Using an associative quantitative approach, the study utilizes secondary data from the annual and sustainability reports of 11 banking companies and analyzes them using SPSS 29 through descriptive analysis, classical assumption testing, and hypothesis testing. The results show that CSRD has a significance value of 0.190 (> 0.05) with a regression coefficient of –4.267, indicating a negative but insignificant effect on stock prices; dividend policy (DPR) has a significance value of 0.395 (> 0.05) with a regression coefficient of 2.031, indicating a positive but insignificant effect; and profitability (ROE) has a significance value of < 0.001 (< 0.05) with a regression coefficient of 435.134, indicating a positive and significant effect on stock prices. The findings conclude that profitability is the main determinant of stock prices, reflecting investors’ greater emphasis on financial performance compared to CSRD or dividend policy, and banking companies are advised to enhance profitability while maintaining transparency in reporting to strengthen investor confidence.