Wicaksana, Rif'at (2026) PENGARUH PEER CSR TERHADAP PENGUNGKAPAN CSR DAN STOCK PRICE CRASH RISK PADA PERUSAHAAN NON-KEUANGAN DI BURSA EFEK INDONESIA. Undergraduate thesis, UPN Veteran Jawa Timur.
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Abstract
This study examines the existence of peer effects in corporate social responsibility (CSR) disclosure, the hierarchy of such effects between industry leaders and followers, and the influence of peer CSR on stock price crash risk, drawing on legitimacy theory and institutional isomorphism. Purposive sampling yields 362 firm-year observations from 126 non-financial firms listed on the Indonesia Stock Exchange over 2019–2022. CSR is measured using the Bloomberg ESG Disclosure Score, peer CSR is constructed as a leave-one-out mean within two-digit SIC industry-year cells, and crash risk is proxied by NCSKEW and DUVOL. The data are analyzed using ordinary least squares regression with fixed effects and cluster-robust standard errors. Peer CSR positively affects a firm's CSR disclosure (β = 0.231; p < 0.10) and remains consistent across all robustness tests. Wald tests fail to reject the equality of the peer leader and peer follower coefficients, indicating that isomorphic pressure is diffuse rather than hierarchical. Peer CSR has no significant influence on stock price crash risk under either proxy
| Item Type: | Thesis (Undergraduate) | ||||||||
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| Subjects: | H Social Sciences > HG Finance > HG1706-1708 Accounting. Bookkeeping | ||||||||
| Divisions: | Faculty of Economic and Business > Departement of Accounting | ||||||||
| Depositing User: | Rif'at Wicaksana | ||||||||
| Date Deposited: | 02 Sep 2026 07:26 | ||||||||
| Last Modified: | 02 Sep 2026 07:45 | ||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/59847 |
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