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Library's collection Library's IT development CancelThis research has a main purpose of giving explanation regarding the correlation of corporate social responsibility (CSR), corporate financial performance (CFP), market share, and idiosyncratic risk. The role of market share and idiosyncratic risk as a mediating variable which cause indirect effect on CSR and CFP are also examined. Kinder, Lydenberg, and Domini’s (KLD) index is used to measure CSR, market-based measurement through Tobin’s Q firm value is utilized to analyze the corporate financial performance. Idiosyncratic risk is derived from volatility of dailty stock return, and percentage of firm’s sales revenue to industry’s sales revenue is to measure market share. From 2017 to 2020, 57 Indonesian listed consumer goods companies were studied using partial least squares analysis. The findings suggest that CSR could act as a mitigating risk tool and to improve the competitiveness in the market. Therefore, firms should invest more in CSR as a strategy to be sustainable and manage a strong and positive relationship with stakeholders.