Intellectual Capital As A Driver Of Corporate Social Responsibility: A Mediation Analysis Of Corporate Financial Factors

Introduction: Transparency and accountability are key pillars in building corporate social legitimacy amid rising stakeholder expectations. Corporate social responsibility (CSR) disclosure is an important means of demonstrating a company's commitment to sustainability, but internal determinants that influence this practice still show varying results. Objective: This study aims to analyse the influence of leverage, profitability, liquidity, and company size on CSR disclosure, as well as to evaluate the moderating role of intellectual capital in strengthening these relationships. Method: This study employs a quantitative approach using panel data regression based on a fixed-effects model. The sample consists of 16 companies that have been consistently listed on the Jakarta Islamic Index (JII) during the period 2019–2023. Results: The analysis results indicate that leverage and liquidity have a significant negative effect on CSR disclosure, while company size has a significant positive effect. Profitability, measured by both ROA and ROE, does not show a significant effect. Intellectual capital is found to moderate the effects of leverage, liquidity, and company size on CSR, but does not moderate the relationship between profitability and CSR. Conclusion: These findings highlight the strategic role of intellectual capital in enhancing the effectiveness of CSR disclosure, particularly for companies facing pressure from financial structures or high public expectations. This study reinforces the theoretical understanding of agency, stakeholder, and legitimacy frameworks in the context of corporate social disclosure.