IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON STOCK PRICES THROUGH FINANCIAL PERFORMANCE IN MANUFACTURING COMPANIES LISTED ON THE IDX IN THE COVID ERA 19

This study aims to identify and analyze the factors that can increase stock prices. The factors that are analyzed and are thought to increase share prices are corporate social responsibility and financial performance. This research was conducted at manufacturing companies listed on the Indonesia Stock Exchange, which in the first quarter and second quarter published financial reports during the Covid 19 pandemic.. There are about 83 companies that meet the requirements as a sample. The analysis method uses Structural Equation Modeling (SEM) with Smart PLS. Based on the research results, it was found that corporate social responsibility has an effect on the company's financial performance as proxied by ROA. Corporate social responsibility affects stock prices. The company's financial performance has an effect on stock prices. Investors see the company's ability to allocate the cost of disclosing corporate social responsibility from the operating income. On the other hand, stakeholders see the role of the company in consistently disclosing corporate social responsibility so that it is proven to be a company's going concern. Companies that remain consistent in generating profits in the era of the Covid 19 Pandemic are considered to be sustainable so that investors are more interested in these companies and have an impact on increasing the company's share price. It can be concluded that the higher the company's financial performance, the higher the allocation in corporate social responsibility disclosures so that this signal is captured by investors as a good corporate activity and has a positive impact on stock prices.