THE EFFECT OF DISCLOSURE OF SUSTAINABILITY REPORTS AND CORPORATE GOVERNANCE ON THE FINANCIAL PERFORMANCE OF COMPANIES IN THE ASEAN REGION
Keywords:
Corporate Governance, Financial Performance, Sustainability ReportsAbstract
The paradigm of good company performance can be measured based on the entity's ability to generate profits or profits in financial statements. This study uses secondary data, namely data obtained indirectly from the object of study sourced from the ASEAN regional company's financial report data base available at the ASEAN Capital Markets Forum (ACMF) data center. The results of this study also show that there is a positive influence between financial performance and sustainability reporting. This is indicated by a significance value of 0. 015 < 0.05, as well as a coefficient value of 0.579 which means that there is a positive influence. Based on the results of the test and discussion, it was concluded that the financial performance of entities in the ASEAN region has differences as well as good corporate governance.
Downloads
References
Adams, C. A., & Abhayawansa, S. (2021). Connecting the COVID-19 pandemic, environmental, social and governance (ESG) investing and calls for ‘harmonisation’ of sustainability reporting. Critical Perspectives on Accounting, 82, 102309. https://doi.org/10.1016/j.cpa.2021.102309
Adiatma, K. B., & Suryanawa, I. K. (2018). Pengaruh Tipe Industri, Kepemilikan Saham Pemerintah, Profitabilitas Terhadap Sustainability Report. E-Jurnal Akuntansi, 25, 934. https://doi.org/10.24843/eja.2018.v25.i02.p05
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
Aliniar, D., & Wahyuni, S. (2017). Pengaruh Mekanisme Good Corporate Governance (GCG) Dan Ukuran Perusahaan Terhadap Kualitas Pengungkapan Sustainability Report Pada Perusahaan Terdaftar Di BEI. Jurnal Universitas Muhammadiyah Purwokerto, 15(1), 26–41.
Anggraeni, R. (2021). Pandemi Covid-19 Jadi Bukti Lemahnya Tata Kelola Perusahaan di Indonesia. Oke Finance.
Asia, R. (2022). ISSB Climate Standard Won’t Ignore Impact – IOSCO. Regulation Asia. https://www.regulationasia.com/issb-climate-standard-wont-ignore-impact-iosco/
Atmoko, C., & Buchori, A. (2020). Sepuluh Perusahaan Tercatat Indonesia Masuk Asean Asset Class. Antaranews.Com.
Cornett, M. M., Erhemjamts, O., & Tehranian, H. (2016). Greed or good deeds: An examination of the relation between corporate social responsibility and the financial performance of U.S. commercial banks around the financial crisis. Jpurnal of Banking and Finance.
Correa-Garcia, J. A., Garcia-Benau, M. A., & Garcia-Meca, E. (2020). Corporate Governance and Its Implications for Sustainability Reporting Quality in Latin American Business Groups. Journal of Cleaner Production, 260, 121142. https://doi.org/10.1016/j.jclepro.2020.121142
Deegan, C. (2002). Introduction: The Legitimising Effect of Social and Environmental Disclosure. A Theoritical Foundation. Accounting, Auditing, and Accountability Journal, 5(3).
Diamastuti, E., Muafi, M., Fitri, A., & Faizaty, N. E. (2021). The Role of Corporate Governance in the Corporate Social and Environmental Responsibility Disclosure. Journal of Asian Finance, Economics and Business, 8(1), 187–198. https://doi.org/10.13106/jafeb.2021.vol8.no1.187
Diono, H., & Prabowo, T. J. W. (2017). Analisis Pengaruh Mekanisme Corporate Governance, Profitalbilitas, Dan Ukuran Perusahaan Terhadap Tingkat Pengungkapan Sustainability Report. Diponegoro Journal of Accounting, 6(3), 615–624.
Dowling, J., & Pfeffer, J. (1975). Organizational Legitimacy: Social Values And Organizational Behavior. Pacific Sociological Journal Review, 18, 122–136.
Efendi. (2016). The Power of Good Corporate Governance: Teori dan Implementasi (2nd ed.). Salemba Empat.
Environmental-Finance. (2019). The ESG data files, part six: TCFD and the challenge of looking forward. Environmental Finance. https://www.environmental-finance.com/content/analysis/the-esg-data-files-part-six-tcfd-and-the-challenge-of-looking-forward.html
Fauzi, H., Svensson, G., & Rahman, A. A. (2010). “Triple Bottom Line” as “Sustainable Corporate Performance”: A Proposition for The Future. Sustainability, 2(5), 1345–1360. https://doi.org/10.3390/su2051345
Ferrero, I., Izqueirdo-Fernandez, M., & A., & Munoz-Torres, M. J. (2016). The effect of environmental, social and governance consistency on economic results. Sustainability (Switzerland), 8(10).
Freeman, R., & McVea, J. (2005). A Stakeholder Approach to Strategic Management. SSRN Electronic Journal, January. https://doi.org/10.2139/ssrn.263511
Jannah, R., & Kurnia. (2016). Pengaruh Kinerja Keuangan Terhadap Pengungkapan Sustainability Report Pada Perusahaan Di Bei. Jurnal Ilmu Dan Riset Akuntansi, 5(2), 1–15.
Kencana, B. (2020). BEI Luncurkan IDX ESG Leaders, Isinya 30 Saham Besar. Liputan6.Com.
Lückerath-Rovers, M. (2013). Women on boards and firm performance. Journal of Management and Governance, 17(2), 491–509. https://doi.org/10.1007/s10997-011-9186-1
Market-Bisnis. (2022). ENVY, Emiten Teknologi Satu-satunya yang Berisiko Delisting. Market Bisnis.
Muhammad, N., & Akmal, A. T. U. (2015). Naskah Buku Lengkap (pp. 1–162).
Pritchard, G. Y., & Çalıyurt, K. T. (2021). Sustainability Reporting in Cooperatives. Risks, 9(6), 117. https://doi.org/10.3390/risks9060117
Putri, M., & Sari, Y. (2014). Pengaruh Kinerja Keuangan, Ukuran Perusahaan, Dan Coporate Governance Terhadap Pengungkapan Sustainability Report. Diponegoro Journal of Accounting, 3(1), 80–91.
Rahindayati, N. M., Ramantha, I. W., & Rasmini, N. K. (2015). Pengaruh Diversitas Pengurus Pada Luas Pengungkapan Corporate Social Responsibility Kemitraan Badan Usaha Milik Negara dengan Usaha Kecil dan Program Bina. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 05(4), 312–330.
Rifandi, A. (2017). Pengaruh Ukuran Perusahaan, Profitabilitas, Dan Leverage Terhadap Pengungkapan Sustainability Report. Jurnal Akuntansi, 5(2), 1–24.
Safitri, M., & Saifudin. (2019). Implikasi Karakteristik Perusahaan dan Good Corporate Governance Terhadap Pengungkapan Sustainability Report. Jurnal Bingkai Ekonomi, 4(1), 13–25.
Shafira, R. N., Azizah, S. N., Wahyuni, S., & Pramono, H. (2021). The Effect of Firm Size and Corporate Governance Structure on Corporate Social Responsibility Disclosures. MRABJ: Muhammadiyah Riau Accounting and Business Journal, 2(2), 163–169. https://doi.org/10.37859/mrabj.v2i2.2456
Shakil, M. H., Mahmood, N., Tasnia, M., &, & Munim, Z. H. (2019). Do environmental, social and governance performance affect the financial performance of banks? A cross-country study of emerging market banks. Management of Environmental Quality: An International Journal, 30(6).
Sholohah, S. A., & Sulistyawati, A. I. (2018). Fokus Ekonomi. Jurnal Fokus Ekonomi, 13(2), 280–300.
Sugiyono. (2019). Statistik Untuk Penelitian. Alfabeta.
Sumilat, H., & Destriana, N. (2010). Faktor-Faktor Yang Mempengaruhi Pengungkapan Corporate Social Responsibility ( Csr ) Dalam Laporan. Jurnal Bisnis Dan Akuntansi, 19(1), 129–140.
Tarigan, J., & Semuel, H. (2015). Pengungkapan Sustainability Report dan Kinerja Keuangan. Jurnal Akuntansi Dan Keuangan, 16(2), 88–101. https://doi.org/10.9744/jak.16.2.88-101
Tjahjadi, B., Soewarno, N., & Mustikaningtiyas, F. (2021). Good Corporate Governance and Corporate Sustainability Performance in Indonesia: A Triple Bottom Line Approach. Heliyon, 7(3), e06453. https://doi.org/10.1016/j.heliyon.2021.e06453
Tobing, R. A., Zuhrotun, Z., & Rusherlistyani, R. (2019). Pengaruh Kinerja Keuangan, Ukuran Perusahaan, dan Good Corporate Governance Terhadap Pengungkapan Sustainability Report pada Perusahaan Manufaktur yang Terdaftar dalam Bursa Efek Indonesia. Reviu Akuntansi Dan Bisnis Indonesia, 3(1), 102–123. https://doi.org/10.18196/rab.030139
Utomo, B. (2021). Moderasi Kinerja Keuangan Pada Pengaruh Struktur Kepemilikan Terhadap Pengungkapan Sustainability Report di Indeks Sri Kehati Tahun 2013-2017. Jurnal Akuntansi Unesa, 9(2), 1–12.
Wijayana, E., & Kurniawati, K. (2018). Pengaruh Corporate Governance, Return on Asset Dan Umur Perusahaan Terhadap Luas Pengungkapan Sustainability Report. Jurnal Akuntansi Bisnis, 11(2), 157–171. https://doi.org/10.30813/jab.v11i2.1388
Wulanda, R. D. P. (2017). Pengaruh Karakteristik Perusahaan Dan Corporate Governance Terhadap Publikasi Sustainability Report. JOMFekom, 4(1), 843–857. https://media.neliti.com/media/publications/125589-ID-analisis-dampak-pemekaran-daerah-ditinja.pdf
Zorio, A., García-Benau, M. A., & Sierra, L. (2013). Sustainability development and the quality of assurance reports: Empirical evidence. Business Strategy and the Environment, 22(7), 484–500. https://doi.org/10.1002/bse.1764
