This research aims to analyze the effect of Corporate Social Responsibility Disclosure and profitability towards the enterprise value and the role of earnings management as the moderating variable in the correlation between Corporate Social Responsibility Disclosure with the enterprise value. This research was conducted in manfactures companies which were listed in Indonesia Stock Exchange in 2013-2015 using purposive sampling method. Based on those criteria, there were 55 companies obtained in each research period. The research hypothesis was tested using Multiple Linier Regression and Moderated Regression Analysis (MRA). The research result showed that first, there was significant effect of corporate social responsibility disclosure towards the enterprise value. Second, there was significant effect of probability towards the enterprise value. Third, the analysis in the moderating variable showed that the earnings management did not moderate the correlation between Corporate Social Responsibility Disclosure and the enterprise value.