The Effect of Corporate Social Responsibility Disclosure and Independent Commissioner on Cost of Equity

The purpose of this research is to examine the effect of Corporate Social Responsibility (CSR) disclosure and independent commissioner to cost of equity of manufacturing companies listed on Indonesia Stock Exchange. The population of this research is listed manufacturing companies. The samples are collected through purposive sampling method and analyzed using EViews. The result shows that CSR disclosure has negative significant effect on cost of equity, meanwhile independent commissioner does not affect cost of equity. This implies that investors consider CSR disclosure in assessing firm's risk and thus willing to lower required rate of return or cost of equity.