APAKAH SUSTAINABILITY REPORTING MEMEDIASI HUBUNGAN KARAKTERISTIK DEWAN DAN KINERJA AKUNTANSI?

Main Article Content

Susi Retna Cahyaningtyas
Rahmi Sri Ramadhani
Zuhrotul Isnaini

Abstract

Penelitian ini menguji secara empiris pengaruh langsung dan tidak langsung kerakteristik dewan seperti ukuran dewan, dewan independen dan keragaman gender dewan terhadap kinerja akuntansi dengan sustainability reporting (SR) sebagai variabel mediasi. Sampel penelitian adalah 84 perusahaan go public di Bursa Efek Indonesia yang mengungkapkan sustainability reporting periode 2017-2019. Pengujian hipotesis menggunakan analisis jalur. Hasil pengujian menunjukkan bahwa dewan independen, keragaman gender dewan secara langsung meningkatkan kinerja akuntansi sedangkan ukuran dewan tidak mempengaruhi kinerja akuntansi. Ukuran dewan, dewan independen, dan keragaman gender dewan tidak mempengaruhi pengungkapan pelaporan keberlanjutan. Sustainability Reporting  tidak dapat memediasi karakteristik dewan terhadap kinerja akuntansi, karena SR yang sifatnya masih sukarela sehingga tidak banyak perusahaan yang mengungkapkannya.

Downloads

Download data is not yet available.

Article Details

How to Cite
Cahyaningtyas, S. R., Sri Ramadhani, R., & Isnaini, Z. (2022). APAKAH SUSTAINABILITY REPORTING MEMEDIASI HUBUNGAN KARAKTERISTIK DEWAN DAN KINERJA AKUNTANSI?. Akurasi : Jurnal Studi Akuntansi Dan Keuangan, 5(2), 285-305. https://doi.org/10.29303/akurasi.v5i2.268
Section
Articles

References

Abad, D., Lucas-Pérez, M. E., Minguez-Vera, A., & Yagüe, J. (2017). Does gender diversity on corporate boards reduce information asymmetry in equity markets? BRQ Business Research Quarterly, 20(3), 192–205. https://doi.org/10.1016/j.brq.2017.04.001
Adel, C., Hussain, M. M., Mohamed, E. K. A., & Basuony, M. A. K. (2019). Is corporate governance relevant to the quality of corporate social responsibility disclosure in large European companies? International Journal of Accounting and Information Management, 27(2), 301–332. https://doi.org/10.1108/IJAIM-10-2017-0118
Akbas, H. E. (2016). The Relationship between Board Characteristics and Environmental Disclosure: Evidence from Turkish Listed Companies. South East European Journal of Economics and Business, 11(2), 7–19. https://doi.org/10.1515/jeb-2016-0007
Al-Shaer, H., & Zaman, M. (2016). Board gender diversity and sustainability reporting quality. Journal of Contemporary Accounting and Economics, 12, 210–222. https://doi.org/10.1016/j.jcae.2016.09.001
Ali, R., Sial, M. S., Brugni, T. V., Hwang, J., Khuong, N. V., & Khanh, T. H. T. (2020). Does CSR moderate the relationship between corporate governance and Chinese firm’s financial performance? Evidence from the Shanghai Stock Exchange (SSE) firms. Sustainability (Switzerland), 12(1). https://doi.org/10.3390/SU12010149
Baalouch, F., Ayadi, S. D., & Hussainey, K. (2019). A study of the determinants of environmental disclosure quality: evidence from French listed companies. In Journal of Management and Governance (Vol. 23, Issue 4). Springer US. https://doi.org/10.1007/s10997-019-09474-0
Baron, R. M., & Kenny, D. A. (1986). The Moderator-mediator variable distinction in social psychological research. Conceptual, Strategic, and Statistical Considerations. Journal of Personality and Social Psychology, 51(6), 1173–1182. https://doi.org/10.1037/0022-3514.51.6.1173
Bhat, K. U., Chen, Y., Jebran, K., & Bhutto, N. A. (2018). Corporate governance and firm value: a comparative analysis of state and non-state owned companies in the context of Pakistan. Corporate Governance (Bingley), 18(6), 1196–1206. https://doi.org/10.1108/CG-09-2017-0208
Cho, S. J., Chung, C. Y., & Young, J. (2019). Study on the relationship between CSR and financial performance. Sustainability, 11, 343. https://doi.org/10.3390/su11020343
Choi, J. S., Kwak, Y. M., & Choe, C. (2010). Corporate social responsibility and corporate financial performance: Evidence from Korea. Australian Journal of Management, 35(3), 291–311. https://doi.org/10.1177/0312896210384681
Ciftci, I., Tatoglu, E., Wood, G., Demirbag, M., & Zaim, S. (2019). Corporate governance and firm performance in emerging markets: Evidence from Turkey. International Business Review, 28, 90–103. https://doi.org/10.1016/j.ibusrev.2018.08.004
Cuadrado-Ballesteros, B., Rodríguez-Ariza, L., & García-Sánchez, I. M. (2015). The role of independent directors at family firms in relation to corporate social responsibility disclosures. International Business Review, 24(5), 890–901. https://doi.org/10.1016/j.ibusrev.2015.04.002
de Villiers, C., Naiker, V., & van Staden, C. J. (2011). The effect of board characteristics on firm environmental performance. Journal of Management, 37(6), 1636–1663. https://doi.org/10.1177/0149206311411506
Diouf, D., & Boiral, O. (2017). The quality of sustainability reports and impression management : A stakeholder perspective. Accounting, Auditing & Accountability Journal, 3(3), 643–667. https://doi.org/https://doi.org/10.1108/AAAJ-04-2015-2044
Epstein, M. J., & Freedman, M. (1994). Social Disclosure and the Individual Investor. Accounting, Auditing & Accountability Journal, 7(4), 94–109. https://doi.org/10.1108/09513579410069867
Fakoya, M. B., & Nakeng, M. V. (2019). Board characteristics and sustainable energy performance of selected companies in South Africa. Sustainable Production and Consumption, 18, 190–199. https://doi.org/10.1016/j.spc.2019.02.003
Fasan, M., & Mio, C. (2017). Fostering Stakeholder Engagement: The role of materiality disclosure in Integrated Reporting. Business Strategy and the Environment, 26, 288–305. https://doi.org/10.1002/bse.1917
Feng Kao, M., Hodgkinson, L., & Jaafar, A. (2019). Ownership structure, board of directors and firm performance: evidence from Taiwan. Corporate Governance, 19(1), 189–216. https://doi.org/10.1108/CG-04-2018-0144
Fernández-Gago, R., Cabeza-García, L., & Nieto, M. (2016). Corporate social responsibility, board of directors, and firm performance: an analysis of their relationships. Review of Managerial Science, 10(1), 85–104. https://doi.org/10.1007/s11846-014-0141-9
Francoeur, C., Labelle, R., & Sinclair-Desgagné, B. (2008). Gender diversity in corporate governance and top management. Journal of Business Ethics, 81, 83–95. https://doi.org/10.1007/s10551-007-9482-5
Freeman, R. E. (1984). Strategic management: A stakeholder approach. In Strategic management: A stakeholder approach (Issue May 2017). Pitman Publishing Inc.
Freeman, R. E. (2004). The Stakeholder Approach Revisited. Zwfu, 5(3), 228–254. https://doi.org/10.1017/cbo9781139192675.003
Frias-Aceituno, J. V., Rodriguez-Ariza, L., & Garcia-Sanchez, I. M. (2013). The role of the board in the dissemination of integrated corporate social reporting. Corporate Social Responsibility and Environmental Management, 20(4), 219–233. https://doi.org/10.1002/csr.1294
Frias-Aceituno, J. V., Rodríguez-Ariza, L., & Garcia-Sánchez, I. M. (2014). Explanatory Factors of Integrated Sustainability and Financial Reporting. Business Strategy and the Environment, 23, 56–72. https://doi.org/10.1002/bse.1765
García-Sánchez, I. M., Martínez-Ferrero, J., & Garcia-Benau, M. . (2019). Integrated reporting: The mediating role of the board of directors and investor protection on managerial discretion in munificent environments. Corporate Social Responsibility and Environmental Management, 26, 29–45. https://doi.org/10.1002/csr.1655
Gentry, R. J., & Shen, W. (2020). The relationship between accounting and market measures of firm financial performance: How strong is it? Journal of Managerial Issues, 22(1), 514–530.
Godos-Díez, J. L., Cabeza-García, L., Alonso-Martínez, D., & Fernández-Gago, R. (2018). Factors influencing board of directors’ decision-making process as determinants of CSR engagement. Review of Managerial Science, 12(1), 229–253. https://doi.org/10.1007/s11846-016-0220-1
Haji, A. A. (2013). Corporate social responsibility disclosures over time: Evidence from Malaysia. Managerial Auditing Journal, 28(7), 647–676. https://doi.org/10.1108/MAJ-07-2012-0729
Haldar, A., Shah, R., Rao, S. V. D. N., Stokes, P., Demirbas, D., & Dardour, A. (2018). Corporate performance: does board independence matter? – Indian evidence. International Journal of Organizational Analysis, 26(1), 185–200. https://doi.org/10.1108/IJOA-12-2017-1296
Hassel, L., Nilsson, H., & Nyquist, S. (2005). The value relevance of environmental performance. European Accounting Review, 14(1), 41–61. https://doi.org/10.1080/0963818042000279722
Hauser, R. (2018). Busy directors and firm performance: Evidence from mergers. Journal of Financial Economics, 128(1), 16–37. https://doi.org/10.1016/j.jfineco.2018.01.009
Hsu, C. shun, Lai, W. hung, & Yen, S. hui. (2019). Boardroom Diversity and Operating Performance: The Moderating Effect of Strategic Change. Emerging Markets Finance and Trade, 55(11), 2448–2472. https://doi.org/10.1080/1540496X.2018.1519414
Husnaini, W., & Basuki, B. (2020). ASEAN Corporate Governance Scorecard: Sustainability Reporting and Firm Value. The Journal of Asian Finance, Economics and Business, 7(11), 315–326. https://doi.org/10.13106/jafeb.2020.vol7.no11.315
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
Institut Français des Administrateurs (IFA). (2017). The Board of Directors and integrated reporting.
Javaid Lone, E., Ali, A., & Khan, I. (2016). Corporate governance and corporate social responsibility disclosure: evidence from Pakistan. Corporate Governance (Bingley), 16(5), 785–797. https://doi.org/10.1108/CG-05-2016-0100
Jizi, M. I., Salama, A., Dixon, R., & Stratling, R. (2013). 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
Karaman, A. S., Kilic, M., & Uyar, A. (2018). Sustainability reporting in the aviation industry: worldwide evidence. Sustainability Accounting, Management and Policy Journal, 9(4), 362–391. https://doi.org/10.1108/SAMPJ-12-2017-0150
Khairani, N., & Yunita Harahap, D. (2017). Firms Value: From the Board Diversity and Board Compensation Perspective. Jurnal Riset Akuntansi & Keuangan, 5(3), 1551–1564. https://doi.org/10.5220/0006888104700478
Khan, T. M., Nosheen, S., & ul Haq, N. (2020). Corporate governance mechanism and comparative analysis of one-tier and two-tier board structures: evidence from ASEAN countries. International Journal of Disclosure and Governance, 17(2–3), 61–72. https://doi.org/10.1057/s41310-020-00075-0
Kiel, G. C., & Nicholson, G. J. (2003). Board composition and corporate performance: How the Australian experience informs contrasting theories of corporate governance. Corporate Governance: An International Review, 11(3), 189–205. https://doi.org/10.1111/1467-8683.00318
Mahmood, Z., Kouser, R., Ali, W., Ahmad, Z., & Salman, T. (2018). Does corporate governance affect sustainability disclosure? A mixed methods study. Sustainability, 10(207), 1–20. https://doi.org/10.3390/su10010207
McGuire, J. B., Sundgren, A., & Schneeweis, T. (1988). Corporate Social Responsibility and Firm Financial Performance. Academy of Management Journal, 31(4), 854–872. https://doi.org/10.5465/256342
Merendino, A., & Melville, R. (2019). The board of directors and firm performance: empirical evidence from listed companies. Corporate Governance (Bingley), 19(3), 508–551. https://doi.org/10.1108/CG-06-2018-0211
Michelon, G., & Parbonetti, A. (2012). The effect of corporate governance on sustainability disclosure. Journal of Management and Governance, 16, 477–509. https://doi.org/10.1007/s10997-010-9160-3
Mishra, R. K., & Kapil, S. (2018). Effect of board characteristics on firm value: evidence from India. South Asian Journal of Business Studies, 7(1), 41–72. https://doi.org/10.1108/SAJBS-08-2016-0073
Muttakin, M. B., Mihret, D. G., & Khan, A. (2018). Corporate political connection and corporate social responsibility disclosures: A neo-pluralist hypothesis and empirical evidence. Accounting, Auditing and Accountability Journal, 31(2), 725–744. https://doi.org/10.1108/AAAJ-06-2015-2078
Nawawi, A. H. T., Agustia, D., Lusnadi, G. M., & Fauzi, H. (2020). Disclosure of sustainability report mediating good corporate governance mechanism on stock performance. Journal of Security and Sustainability Issues, 9(January), 151–170. https://doi.org/10.9770/jssi.2020.9.J(12)
Nicholson, G. J., & Kiel, G. C. (2007). Can Directors Impact Performance? A case-based test of three theories of corporate governance. Corporate Governance: An International Review, 15(4), 585–608.
Nofianti, L., Anitaa, R., Anugerah, R., Abdillah, M. R., & Zakaria, N. B. (2019). Environmental information disclosure and firm valuation : corporate governance as moderating variable. International Journal of Engineering & Technology, 8, 159–163. https://doi.org/10.14419/ijet.v8i1.8.26227
Nor, N. H. M., Nawawi, A., & Salin, A. S. A. P. (2017). The influence of board independence, board size and managerial ownership on firm investment efficiency. Pertanika Journal of Social Sciences and Humanities, 25(3), 1039–1058.
Ong, T., & Djajadikerta, H. G. (2020). Corporate governance and sustainability reporting in the Australian resources industry: an empirical analysis. Social Responsibility Journal, 16(1), 1–14. https://doi.org/10.1108/SRJ-06-2018-0135
Pan, Y., & Sparks, J. R. (2012). Predictors, consequence, and measurement of ethical judgments: Review and meta-analysis. Journal of Business Research, 65, 84–91. https://doi.org/10.1016/j.jbusres.2011.02.002
Pavlopoulos, A., Magnis, C., & Iatridis, G. E. (2017). Integrated reporting: Is it the last piece of the accounting disclosure puzzle? Journal of Multinational Financial Management, 41, 23–46. https://doi.org/10.1016/j.mulfin.2017.05.001
Pillai, R., & Al-malkawi, H. N. (2018). On the relationship between corporate governance and fi rm performance : Evidence from GCC countries. Research in International Business and Finance, 44(February 2017), 394–410. https://doi.org/10.1016/j.ribaf.2017.07.110
Rao, K., & Tilt, C. (2016a). Board Composition and Corporate Social Responsibility: The Role of Diversity, Gender, Strategy and Decision Making. Journal of Business Ethics, 138, 327–347. https://doi.org/10.1007/s10551-015-2613-5
Rao, K., & Tilt, C. (2016b). Board diversity and CSR reporting: An Australian study. Meditari Accountancy Research, 24(2), 182–210. https://doi.org/10.1108/MEDAR-08-2015-0052
Rashid, A. (2018). Board independence and firm performance: Evidence from Bangladesh. Future Business Journal, 4, 34–49. https://doi.org/10.1016/j.fbj.2017.11.003
Rashid, K., & Islam, S. M. N. (2013). Corporate governance, complementarities and the value of a firm in an emerging market: The effect of market imperfections. Corporate Governance (Bingley), 13(1), 70–87. https://doi.org/10.1108/14720701311302422
Sarpal, S. (2018). Does Endogeneity in Causal Relationships Matter: A Case of Board Independence and Firm’s Market Valuation. Emerging Economy Studies, 4(1), 19–39. https://doi.org/10.1177/2394901518767022
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
Sial, M. S., Zheng, C., Cherian, J., Gulzar, M. A., Thu, P. A., Khan, T., & Khuong, N. V. (2018). Does corporate social responsibility mediate the relation between boardroom gender diversity and firm performance of Chinese listed companies? Sustainability, 10(10). https://doi.org/10.3390/su10103591
Singh, S., Tabassum, N., Darwish, T. K., & Batsakis, G. (2018). Corporate Governance and Tobin’s Q as a Measure of Organizational Performance. British Journal of Management, 29, 171–190. https://doi.org/10.1111/1467-8551.12237
Terjesen, S., Couto, E. B., & Francisco, P. M. (2016). Does the presence of independent and female directors impact firm performance? A multi-country study of board diversity. Journal of Management and Governance, 20, 447–483. https://doi.org/10.1007/s10997-014-9307-8
Velte, P. (2020). Does CEO power moderate the link between ESG performance and financial performance?: A focus on the German two-tier system. Management Research Review, 43(5), 497–520. https://doi.org/10.1108/MRR-04-2019-0182
Vitezić, N., Vuko, T., & Mörec, B. (2012). Does Financial Performance Have An Impact On Corporate Sustainability And Csr Disclosure - A Case Of Croatian Companies. Journal of Business Management, Special Ed(5), 40–47. http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=82878449&site=ehost-live
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
Yang, P., Riepe, J., Moser, K., Pull, K., & Terjesen, S. (2019). Women directors, firm performance, and firm risk: A causal perspective. The Leadership Quarterly, In press,. https://doi.org/10.1016/j.leaqua.2019.05.004
Yang, Y., Orzes, G., Jia, F., & Chen, L. (2019). Does GRI Sustainability Reporting Pay Off? An Empirical Investigation of Publicly Listed Firms in China. Business and Society. https://doi.org/10.1177/0007650319831632
Yermack, D. (1996). Higher Market Valuation for Firms with a Small Board of Directors. Journal of Financial Economics, 40, 185–211.
Yoon, B., & Chung, Y. (2018). The effects of corporate social responsibility on firm performance: A stakeholder approach. Journal of Hospitality and Tourism Management, 37(August), 89–96. https://doi.org/10.1016/j.jhtm.2018.10.005
Zahid, M., Rahman, H. U., Ali, W., Khan, M., Alharthi, M., Imran Qureshi, M., & Jan, A. (2020). Boardroom gender diversity: Implications for corporate sustainability disclosures in Malaysia. Journal of Cleaner Production, 244, 118683. https://doi.org/10.1016/j.jclepro.2019.118683
Zhang, L. (2012). Board demographic diversity, independence, and corporate social performance. Corporate Governance, 12(5), 686–700. https://doi.org/10.1108/14720701211275604
Abstract viewed = 507 times
PDF downloaded = 437 times