Pelaporan Keberlanjutan Periode 2014-2018: Apakah Karakteristik Dewan Dan Usia Perusahaan Memiliki Peran?

Aulia Irfan Mufti; Puji Wibowo

doi:10.54957/akuntansiku.v3i2.761

Authors

Aulia Irfan Mufti Politeknik Keuangan Negara STAN
Puji Wibowo Politeknik Keuangan Negara STAN

DOI:

https://doi.org/10.54957/akuntansiku.v3i2.761

Keywords:

Board characteristics, Company age, Quality of sustainability reporting

Abstract

This study aims to determine the effect of board characteristics and company age on the quality of sustainability reporting on Indonesian companies in 2014-2018. The characteristics of the board are represented by 9 (nine) variables, namely the presence of board members aged 60 years or more, the number of board meetings, the number of directors' meetings, the proportion of independent commissioners, the proportion of former government officials on the board of commissioners, the proportion of government officials on the board of commissioners, board size, the presence of women on the council, and the ethnic diversity of the council. Meanwhile, the company's age variable is measured using the natural logarithm of the age of the company from established until the reporting year. The quality of sustainability reporting is measured using a scale developed by Adaui (2020). The population of this study is companies listed on the Indonesia Stock Exchange that submit sustainability reports for the 2014-2018 period. The test got 185 observations, that is, 37 companies a year were obtained from purposive sampling. The Fixed Effect Model is used as a panel data estimation model. The results showed that the number of board of directors meetings, board size, and age of the company had a significant positive effect on the quality of corporate sustainability reporting in Indonesia. Meanwhile, other variables certainly do not have a significant effect on the quality of Indonesian company sustainability reporting.

Penelitian ini bertujuan untuk mengetahui pengaruh karakteristik dewan direksi dan usia perusahaan terhadap kualitas pelaporan keberlanjutan pada perusahaan Indonesia tahun 2014-2018. Karakteristik dewan diwakili oleh 9 (sembilan) variabel yaitu keberadaan anggota dewan yang berusia 60 tahun atau lebih, jumlah rapat dewan, jumlah rapat direksi, proporsi komisaris independen, proporsi mantan pejabat pemerintah. pejabat di dewan komisaris, proporsi pejabat pemerintah di dewan komisaris, ukuran dewan, kehadiran perempuan di dewan, dan keragaman etnis di dewan. Sedangkan variabel umur perusahaan diukur dengan menggunakan logaritma natural umur perusahaan sejak berdirinya sampai dengan tahun pelaporan. Kualitas pelaporan keberlanjutan diukur menggunakan skala yang dikembangkan Adaui (2020). Populasi penelitian ini adalah perusahaan yang terdaftar di Bursa Efek Indonesia yang menyampaikan laporan keberlanjutan periode 2014-2018. Pengujian tersebut memperoleh 185 observasi, yaitu 37 perusahaan dalam setahun yang diperoleh dari purposive sampling. Fixed Effect Model digunakan sebagai model estimasi data panel. Hasil penelitian menunjukkan bahwa jumlah rapat dewan direksi, ukuran dewan direksi, dan usia perusahaan berpengaruh positif signifikan terhadap kualitas pelaporan keberlanjutan perusahaan di Indonesia. Sedangkan variabel lainnya tentu tidak berpengaruh signifikan terhadap kualitas pelaporan keberlanjutan perusahaan Indonesia.

References

Abdullah, S. N., & Ismail, K. N. I. K. (2013). Gender, ethnic and age diversity of the boards of large Malaysian firms and performance. Jurnal Pengurusan, 38, 27–40.

Adaui, C. R. L. (2020). Sustainability reporting quality of peruvian listed companies and the impact of regulatory requirements of sustainability disclosures. Sustainability (Switzerland), 12(3). https://doi.org/10.3390/su12031135

Al-Shaer, H., & Zaman, M. (2016). Board gender diversity and sustainability reporting quality. Journal of Contemporary Accounting and Economics, 12(3), 210–222. https://doi.org/10.1016/j.jcae.2016.09.001

Amidjaya, P. G., & Widagdo, A. K. (2019). Sustainability reporting in Indonesian listed banks: Do corporate governance, ownership structure and digital banking matter? Journal of Applied Accounting Research. https://doi.org/10.1108/JAAR-09-2018-0149

Amran, A., Lee, S. P., & Devi, S. S. (2014). The influence of governance structure and strategic corporate social responsibility toward sustainability reporting quality. Business Strategy and the Environment, 23(4), 217–235. https://doi.org/10.1002/bse.1767

Aniktia, R., & Khafid, M. (2015). Pengaruh Mekanisme Good Corporate Governance Dan Kinerja Keuangan Terhadap Pengungkapan Sustainability Report. Accounting Analysis Journal, 4(3), 1–10. https://doi.org/10.15294/aaj.v4i3.8303

Arayssi, M., Dah, M., & Jizi, M. (2016). Women on boards, sustainability reporting and firm performance. Sustainability Accounting, Management and Policy Journal, 7(3), 376–401. https://doi.org/10.1108/SAMPJ-07-2015-0055

Awalia, E. N., Anggraini, R., & Prihatni, R. (2015). Pengaruhdewan Direksi, Dewankomisaris Independen,Leverage, Dan Aktivitasperusahaanterhadap Pengungkapansustainabilityreport. Jurnal Wahana Akuntansi, 10(2), 124. https://doi.org/10.21009/10.21.009/wahana.010/2.2

Bakar, A. B. S. A., Ghazali, N. A. B. M., & Ahmad, M. B. (2019). Sustainability Reporting and Board Diversity in Malaysia. International Journal of Academic Research in Business and Social Sciences, 9(2). https://doi.org/10.6007/ijarbss/v9-i2/5663

Barney, J. (1991). Firm Resources and Sustained Competitive Advantages. Journal of Management, 17(1), 99–120.

Bayoud, N. S., Kavanagh, M., & Slaughter, G. (2012a). Factors Influencing Levels of Corporate Social Responsibility Disclosure by Libyan Firms: A Mixed Study. International Journal of Economics and Finance, 4(4). https://doi.org/10.5539/ijef.v4n4p13

Bayoud, N. S., Kavanagh, M., & Slaughter, G. (2012b). Factors Influencing Levels of Corporate Social Responsibility Disclosure by Libyan Firms: A Mixed Study. International Journal of Economics and Finance, 4(4), 13–29. https://doi.org/10.5539/ijef.v4n4p13

Branco, M. C., & Rodrigues, L. L. (2006). Corporate social responsibility and resource-based perspectives. Journal of Business Ethics, 69(2), 111–132. https://doi.org/10.1007/s10551-006-9071-z

Chang, W. F., Amran, A., Iranmanesh, M., & Foroughi, B. (2019). Drivers of sustainability reporting quality: financial institution perspective. International Journal of Ethics and Systems, 35(4), 632–650. https://doi.org/10.1108/IJOES-01-2019-0006

Cucari, N., Esposito De Falco, S., & Orlando, B. (2018). Diversity of Board of Directors and Environmental Social Governance: Evidence from Italian Listed Companies. Corporate Social Responsibility and Environmental Management, 25(3), 250–266. https://doi.org/10.1002/csr.1452

Dienes, D., Sassen, R., & Fischer, J. (2016). What are the drivers of sustainability reporting? A systematic review. Sustainability Accounting, Management and Policy Journal, 7(2), 154–189. https://doi.org/10.1108/SAMPJ-08-2014-0050

Dienes, D., & Velte, P. (2016). The impact of supervisory board composition on CSR reporting. Evidence from the German two-tier system. Sustainability (Switzerland), 8(1), 1–20. https://doi.org/10.3390/su8010063

Diono, H., Jatmiko, T., & Prabowo, W. (2017). Analisis Pengaruh Mekanisme Corporate Governance, Profitalbilitas, Dan Ukuran Perusahaan Terhadap Tingkat Pengungkapan Sustainability Report. Diponegoro Journal of Accounting, 6(3), 1–10.EY. (2013). Value of sustainability reporting - A study by E and Boston College. 1–29. http://www.ey.com/Publication/vwLUAssets/EY_-_Value_of_sustainability_reporting/$FILE/EY-Value-of-Sustainability-Reporting.pdf

Ghabayen, M. A., Mohamad, N. R., & Ahmad, N. (2016). Board characteristics and corporate social responsibility disclosure in the jordanian banks. Corporate Board: Role, Duties and Composition, 12 (1CONT1), 84–99. https://doi.org/10.22495/cbv12i1c1art2

Guerrero-Villegas, J., Pérez-Calero, L., Hurtado-González, J. M., & Giráldez-Puig, P. (2018). Board attributes and corporate social responsibility disclosure: A meta-analysis. Sustainability (Switzerland), 10(12), 1–22. https://doi.org/10.3390/su10124808

Gunawan, J. (2015). Corporate social disclosures in Indonesia: Stakeholders’ influence and motivation. Social Responsibility Journal, 11(3), 535–552. https://doi.org/10.1108/SRJ-04-2014-0048

Hafsi, T., & Turgut, G. (2013). Boardroom Diversity and its Effect on Social Performance: Conceptualization and Empirical Evidence. Journal of Business Ethics, 112(3), 463–479. https://doi.org/10.1007/s10551-012-1272-z

Harymawan, I., Agustia, D., Aprilia, P., & Ratri, M. C. (2020). Board Meeting, Loss, and Corporate Social Responsibility Disclosure. Journal of Security and Sustainability Issues, 9(11), 133–150. https://doi.org/http://doi.org/10.9770/jssi.2020.9.J(11)

Helfaya, A., & Whittington, M. (2019). Does designing environmental sustainability disclosure quality measures make a difference? Business Strategy and the Environment, 28(4), 525–541. https://doi.org/10.1002/bse.2262

Helfaya, A., Whittington, M., & Alawattage, C. (2019). Exploring the quality of corporate environmental reporting: Surveying preparers’ and users’ perceptions. Accounting, Auditing and Accountability Journal, 32(1), 163–193. https://doi.org/10.1108/AAAJ-04-2015-2023

Herremans, I. M., Nazari, J. A., & Mahmoudian, F. (2016). Stakeholder Relationships, Engagement, and Sustainability Reporting. Journal of Business Ethics, 138(3), 417–435. https://doi.org/10.1007/s10551-015-2634-0

Hidayat, A. A., & Utama, S. (2017). Board characteristics and Firm Performance : Evidence From Indonesia. Accounting and Finance, 8(3), 137–154. https://doi.org/10.1111/acfi.12308

Hoechle, D. (2007). Robust standard errors for panel regressions with cross-sectional dependence. Stata Journal, 7(3), 281–312. https://doi.org/10.1177/1536867x0700700301

Hu, M., & Loh, L. (2018). Board governance and sustainability disclosure: A cross-sectional study of Singapore-listed companies. Sustainability (Switzerland), 10(7). https://doi.org/10.3390/su10072578

Hussain, N., Rigoni, U., & Orij, R. P. (2018). Corporate Governance and Sustainability Performance: Analysis of Triple Bottom Line Performance. Journal of Business Ethics, 149(2), 411–432. https://doi.org/10.1007/s10551-016-3099-5

International Finance Corporation. (2014). The Indonesia Corporate Governance Manual - First Edition. The Indonesia Corporate Governance Manual, 1(7), 1–533. https://doi.org/10.2307/796256

Janggu, T., Darus, F., Zain, M. M., & Sawani, Y. (2014). Does Good Corporate Governance Lead to Better Sustainability Reporting? An Analysis Using Structural Equation Modeling. Procedia - Social and Behavioral Sciences, 145, 138–145. https://doi.org/10.1016/j.sbspro.2014.06.020

Jensen, M. C., & Meckling, W. H. (1976). Theory of The Firm : Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305–360. https://doi.org/10.1057/9781137341280.0038

Jizi, M. I., Salama, A., Dixon, R., & Stratling, R. (2014). Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from the US Banking Sector. Journal of Business Ethics, 125(4), 601–615. https://doi.org/10.1007/s10551-013-1929-2

Kets De Vries, M. F. R., & Miller, D. (1984). Neurotic style and organizational pathology. Strategic Management Journal, 5(1), 35–55. https://doi.org/10.1002/smj.4250050104

KPMG International. (2013). The KPMG Survey Responsibility. 82. https://doi.org/www.kpmg.com/sustainability

KPMG International. (2015). Currents of Change - The KPMG Survey of Corporate Responsibility Reporting 2015. KPMG Corporate Responsibility Reporting, 1–48. https://doi.org/www.kpmg.com/sustainability

Kusumastuti, S., & Sastra, P. (2007). Pengaruh Board Diversity Terhadap Nilai Perusahaan Dalam Perspektif Corporate Governance. Jurnal Akuntansi Dan Keuangan, 9(2), 88–98. https://doi.org/10.9744/jak.9.2.pp.88-98

Latifah, S. W., Rosyid, M. F., Purwanti, L., & Oktavendi, T. W. (2019). Good Corporate Governance, Kinerja Keuangan Dan Sustainability Report (BUMN yang listed di BEI). Jurnal Reviu Akuntansi Dan Keuangan, 9(2), 200–213. https://doi.org/10.22219/jrak.v9i2.56

Loh, L., Thomas, T., Lee, S. P., & Lim, L. (2019). Sustainability Reporting in ASEAN Countries.

M. Shamil, M., M. Shaikh, J., Ho, P.-L., & Krishnan, A. (2014). The influence of board characteristics on sustainability reporting. Asian Review of Accounting, 22(2), 78–97. https://doi.org/10.1108/ara-09-2013-0060

Madhani, P. M. (2010). Resource Based View (RBV) of Competitive Advantage: An Overview. March 2010. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1578704

Madhani, P. M. (2019). Diverse Roles of Corporate Board : A Review of Various Corporate Governance D. 16(June), 1–21.

Mahmood, Z., Kouser, R., Ali, W., Ahmad, Z., & Salman, T. (2018). Does corporate governance affect sustainability disclosure? A mixed methods study. Sustainability (Switzerland), 10(1), 1–20. https://doi.org/10.3390/su10010207

Manning, B., Braam, G., & Reimsbach, D. (2019). Corporate governance and sustainable business conduct—Effects of board monitoring effectiveness and stakeholder engagement on corporate sustainability performance and disclosure choices. Corporate Social Responsibility and Environmental Management, 26(2), 351–366. https://doi.org/10.1002/csr.1687

Marquis, C., & Qian, C. (2014). Corporate social responsibility reporting in China: Symbol or substance? Organization Science, 25(1), 127–148. https://doi.org/10.1287/orsc.2013.0837

Michael, & Lukman, H. (2019). Pengaruh Proporsi Direksi Independen , Proporsi Komisaris Independen Dan Stakeholders Terhadap Sustainability Report. Jurnal Multiparadigma Akuntansi, I(3), 638–645.

Michelon, G., Pilonato, S., & Ricceri, F. (2015). CSR reporting practices and the quality of disclosure: An empirical analysis. Critical Perspectives on Accounting, 33(November), 59–78. https://doi.org/10.1016/j.cpa.2014.10.003

Miller, T., & Triana, M. del C. (2009). Demographic Diversity in the Boardroom : Mediators of the Board Diversity – Firm Performance Relationship. Journal of Management Studies, 46(5). https://doi.org/https://doi.org/10.1111/j.1467-6486.2009.00839.x

Ntim, C. G., & Soobaroyen, T. (2013). Corporate governance and performance in socially responsible corporations: New empirical insights from a neo-institutional framework. Corporate Governance: An International Review, 21(5), 468–494. https://doi.org/10.1111/corg.12026

Post, C., Rahman, N., & Rubow, E. (2011). Green governance: Boards of directors’ composition and environmental corporate social responsibility. In Business and Society (Vol. 50, Issue 1). https://doi.org/10.1177/0007650310394642

Prado-Lorenzo, J. M., & Garcia-Sanchez, I. M. (2010). The Role of the Board of Directors in Disseminating Relevant Information on Greenhouse Gases. Journal of Business Ethics, 97(3), 391–424. https://doi.org/10.1007/s10551-010-0515-0

Rathnayaka Mudiyanselage, N. C. S. (2018). Board involvement in corporate sustainability reporting: evidence from Sri Lanka. Corporate Governance (Bingley), 18(6), 1042–1056. https://doi.org/10.1108/CG-10-2017-0252

Robinson, C., & Schumacker, R. E. (2009). Interaction Effects : Centering, Variance Inflation Factor, and Interpretation Issues. Multiple Linear Regression Viewpoints, 35(2).

Rogers, W. H. (1993). Regression standard errors in clustered samples. Stata Technical Bulletin 13, In Stata Technical Bulletin Reprints, vols. 3, 88–94, 19–23.

Rohmah, D. (2016). Faktor-Faktor Yang Mempengaruhi Pengungkapan Corporate Social Responsibility Di Dalam Laporan Sustainability (Studi Empiris Pada Perusahaan yang listing di Bursa Efek Indonesia Tahun 2010-2013). Esensi, 5(2), 243–262. https://doi.org/10.15408/ess.v5i2.2347

Schaede, U. (2013). The “old boy” network and government-business relationships in Japan. Japan: Economic Success and Legal System, 21(2), 345–370. https://doi.org/10.1515/9783110908886.345

Sekaran, U., & Bougie, R. (2016). Reserach Methods for Bussiness : A Skill-Bulding Approach Seventh Edition. Wileypurposi, 7th Editio, 1–447.

Sekaran, U., & Bougie, R. (2017). Research Methods for Business : A Skill-Building Approach. 6, 465–480. https://doi.org/10.1016/S0148-2963(01)00241-7

Shamil, M. M., Shaikh, J. M., Ho, P. L., & Krishnan, A. (2014). The influence of board characteristics on sustainability reporting Empirical evidence from Sri Lankan firms. Asian Review of Accounting, 22(2), 78–97. https://doi.org/10.1108/ARA-09-2013-0060

Staden, C. van, & Chen, X. (2010). Stakeholder Pressure, Social Trust, Governance and The Disclosure Quality of Environmental Information. Sixth Asia Pacific Interdisciplinary Research in Accounting (APIRA.

Stanny, E., & Ely, K. (2008). Corporate environmental disclosures about the effects of climate change. Corporate Social Responsibility and Environmental Management, 15(6), 338–348. https://doi.org/10.1002/csr.175

StataCorp. (2013). Xtreg Manual. In 2013 (pp. 1–29). http://www.stata.com/manuals13/xtxtreg.pdf

Sugiyono. (2011). Metode Penelitian Kuantitatif, kualitatif dan R & D. Bandung: Alfabeta, 90.

Velte, P. (2017). Does board composition have an impact on CSR reporting? Problems and Perspectives in Management, 15(2), 19–35. https://doi.org/10.21511/ppm.15(2).2017.02

Veronica Siregar, S., & Bachtiar, Y. (2010). Corporate social reporting: empirical evidence from Indonesia Stock Exchange. International Journal of Islamic and Middle Eastern Finance and Management, 3(3), 241–252. https://doi.org/10.1108/17538391011072435

Vitolla, F., Raimo, N., & Rubino, M. (2020). Board characteristics and integrated reporting quality: an agency theory perspective. Corporate Social Responsibility and Environmental Management, 27(2), 1152–1163. https://doi.org/10.1002/csr.1879

Widianto, H. S., & Prastiwi, A. (2011). Pengaruh Profitabilitas, Likuiditas, Leverage, Aktivitas, Ukuran Perusahaan, Dan Corporate Governance Terhadap Praktik Pengungkapan Sustainability Report. Proceeding Simposium Nasional Akuntansi XIV, 1–30. eprints.undip.ac.id/27413/1/Jurnal_Sustainability_Report_Hari.pdf