The main objective of this research was to investigate the impact of CSR Disclosure (CSRD) on firm's financial performance and firm's value, also to compare the level of CSRD between Multinational Companies (MNCs) in Indonesia and Malaysia. Independent variabel used is CSRD, dependent variabels used are Return On Assets (ROA) to measure firm's financial performace, and Tobin's Q to measure firm's value. Applying quantitaive and explanatory research, and using 9 MNCs selected from Indonesia Stock Exchange and 10 MNCs selected from Bursa Malaysia during 2012 until 2015. This study found that CSRD had significant and negative efect to firm's financial performance and firm's value on MNCs in Indonesia, also, CSRD had significant and positive effect to firm's financial performance and firm's value on MNCs in Malaysia. Comparison of CSRD using Mann Whitney test showed that there were significant difference between MNCs in Indonesia and MNCs in Malaysia. MNCs in Indonesia had higher level of CSRD than MNCs in Malaysia.