International Journal of Multidisciplinary Research and Publications ISSN (Online): 2581-6187 244 Aulia Nur Sabrina Sekar Zahra and Noer Sasongko, “Analysis of the Effect of Corporate Social Responsibility, Good Corporate Governance, Intellectual Capital, and Investment Decisions on Firm Value,” International Journal of Multidisciplinary Research and Publications (IJMRAP), Volume 6, Issue 2, pp. 244-249, 2023. Analysis of the Effect of Corporate Social Responsibility, Good Corporate Governance, Intellectual Capital, and Investment Decisions on Firm Value Aulia Nur Sabrina Sekar Zahra 1 , Noer Sasongko 2 1, 2 Faculty of Economics and Business, Universitas Muhammadiyah Surakarta, Surakarta, Indonesia Email address: sabrinasekarzahra2001@gmail.com, ns243@ums.ac.id Abstract— This study aims to analyze the influence of corporate social responsibility, good corporate governance, intellectual capital, and investment decisions on firm value in manufacturing companies on the Indonesia Stock Exchange in 2019-2021. The population in this study are manufacturing companies in the property and real estate sub-sector which are listed on the Indonesia Stock Exchange in 2019-2021 and have a complete annual report. While the sample in this study is a manufacturing company in the property and real estate sub-sector which has published an annual report for three years, from 2019 to 2021. The analysis technique used is multiple linear regression analysis. The results of this study indicate that corporate social responsibility has no effect on firm value, independent commissioners have no effect on firm value, audit committees have no effect on firm value, intellectual capital has no effect on firm value, and investment decisions have no effect on firm value. Keywords— Corporate Social Responsibility, Good Corporate Governance, Intellectual Capital, Keputusan Investasi, Nilai Perusahaan. I. INTRODUCTION Business developments in the era of globalization make companies compete fiercely to achieve company goals that have been set. With the rapidly changing dynamics of globalization and increasing market competition, companies around the world are facing several new challenges and opportunities (Ahmed et., al, 2019). The company's goal is to achieve maximum profit. prosper the owners or shareholders of the company. Based on the company's objectives, it can be concluded that the company's main goal is to maximize the value of the company itself or the value of the firm (Liana Susanto, 2021). Indonesia itself is one of the countries where business competition is very rapid. In the global economic situation, companies in Indonesia carry out economic activities without national borders. Currently, there are many companies that have been established in Indonesia. The increasing number of new companies from day to day has made competition in the business world in Indonesia increasingly stringent, starting from companies engaged in services, manufacturing, and trading to compete with each other to survive and be the best. Indonesia has many types of companies such as trading, service, and manufacturing companies. Manufacturing companies in the property and real estate sector are one of the companies that meet the needs of the wider community. Firm value can be defined as an investor's view of the success rate of a company that has a close relationship with the stock price invested by the investor concerned (Mulyawan, AR, 2020). Success in achieving its goals and duties is an achievement for management and the company's ability to prosper shareholders. Company achievements and performance assessments can be used as a basis for decision-making. Market value performance indicators are attributes that show the company's value to external parties. They are seen as indicators that describe the level of performance of entities in the market. They include stock market prices and equity market prices. Firm value gets its name from the growth of book value and market value performance indicators (Edet et., al, 2023). Firm value is influenced by several internal factors of the company and these factors are often used by potential investors in assessing the company's ability to increase firm value. These factors include Corporate Social Responsibility, Good Corporate Governance, Intellectual Capital, and Investment Decisions. Corporate Social Responsibility (CSR) is the theoretical basis of the need for a company to build a harmonious relationship with the community and the environment in which it operates. In theory, CSR can be defined as a company's moral responsibility towards its stakeholders, especially the community or the people around its work area and operations. CSR activities implemented by companies whose main objective is to improve customer service without neglecting other stakeholders have a positive impact on the expected performance of a company. These CSR activities can increase corporate value for companies with high public awareness (Servaes & Tamayo, 2013). CSR carried out by the company is able to attract customers as the main stakeholders and as a source of decision-making criteria, Afifah, N., Astuti, S.W. W., & Irawan, D (2021). Good Corporate Governance (GCG) is the principle of good corporate governance, which is built to create stakeholder trust in the company. According to Sugosha and Artini (2020), a good company is a system that is implemented in managing a company with the main goal of increasing shareholder value in the long term while taking into account the interests of stakeholders. As a consequence, the implementation of good