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September 10, 2025JASa (Jurnal Akuntansi Audit dan Sistem Informasi Akuntansi)Open Access

The Effect of Financial Leverage on Stock Return with Moderation of Corporate Social Responsibility Disclosure

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Authors

EHEka HermayaniCAChairil Afandy

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Overview

Panel data analysis reveals financial leverage significantly affects stock returns in banks, suggesting CSR plays a moderating role.

Key Points

  • Financial leverage impacts stock returns significantly when using the DER indicator, indicating its influence on asset performance.
  • When measured by the DAR indicator, financial leverage negatively affects stock returns, highlighting the need for careful metric selection.
  • CSR disclosure moderates the positive effect of financial leverage on stock returns when assessing through the DER indicator.
  • This analysis focused on banks from 2013-2022, suggesting more extensive studies are needed to generalize findings across sectors.

Cite This Study

Hermayani et al. (2025) studied this question.

synapsesocial.com/papers/68c183f09b7b07f3a060f9cbhttps://doi.org/10.36555/jasa.v9i2.2870
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