Does Stakeholder Pressure Determine Sustainability Reporting Disclosure? : Evidence From High-Level Governance Companies

Authors

  • Endang Ruhiyat Fakultas Ekonomi dan Bisnis, Universitas Pamulang, Tangerang Selatan, Indonesia
  • Dani Rahman Hakim Fakultas Ekonomi dan Bisnis, Universitas Pamulang, Tangerang Selatan, Indonesia https://orcid.org/0000-0001-5385-493X
  • Irna Handy Fakultas Ekonomi dan Bisnis, Universitas Pamulang, Tangerang Selatan, Indonesia

DOI:

https://doi.org/10.22219/jrak.v12i2.21926

Keywords:

Governance, Stakeholder Pressure, Sustainability Reporting Disclosure

Abstract

Penelitian ini menganalisis pengaruh stakeholder’s pressure, good corporate governance (GCG), dan struktur modal terhadap sustainability reporting disclosure (SRD). Penelitian ini menggunakan data kuartalan dari 7 high level governance perusahaan yang tergabung dalam Indonesian Institute of Corporate Governance (IICG) periode 2014-2019 dengan total 168 observasi. Dengan  menggunakan random effect model, penelitian ini menemukan bahwa stakeholder’s pressure yang diukur secara komposit  menggunakan consumer proximity industry (CPI), investor oriented industry (IOI), dan employee oriented industry (EOI) terbukti berpengaruh positif terhadap sustainability reporting disclosure. Hasil ini robust setelah diestimasi ulang dengan menggunakan robust regression dan covariance based structural equation modeling (CB-SEM). Di sisi lain, penelitian ini gagal menemukan adanya pengaruh GCG dan struktur modal terhadap SRD. Meskipun tingkat GCG perusahaan tinggi, namun tidak membuat perusahaan tersebut meningkatkan SRD. Kondisi ini mengindikasikan bahwa tata kelola yang dilakukan perusahaan belum berorientasi pada kinerja keberlanjutan. Hasil penelitian ini berimplikasi pada pentingnya mensinergiskan praktek GCG yang dilakukan perusahaan dengan SRD. Oleh karena itu, pemerintah perlu memberikan sosialisasi yang lebih intensif mengenai pentingnya SRD, khususnya kepada para investor.

 

 

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Published

2022-08-31