In order to continue their existence and remain competitive in the business sector, companiesoperational activities necessitate an increase in finance. Funding for a business can be impacted by a number of variables. This study aims to analyze the effectof CSR performance on the cost of equity capital and the effect of CSR performance on the cost of equity capital using capital structure as a moderator. This study's sample consists of 202 non-financial businesses listed on the Indonesia Stock Exchange (IDX) throughout the course of three years, 2017-2019. The data were examined usingthe classical assumption test, multiple regression methods, and moderated regression analisis. The results of this study indicatethat CSR performance negatively impacts the cost of equity capital in Indonesia. In contrast, the moderation test indicates that capital structure cannot alter the relationship between CSR performance and the cost of equity capital.

Keywords : CSR performance; cost of equity capital; capital structure; moderated regression analysis.