The Determinant of Sustainability Report Disclosure (SRD) in companies listed on the LQ45 Index on the Indonesia Stock Exchange

Abstract

The purpose of this study is to objectively investigate the impact of independent commissioners, gender representation on the Board of Directors (BoD), media exposure, and Environmental, Social, and Governance (ESG) on Sustainability Report Disclosure (SRD). This study's population consists of companies listed in the LQ45 index on the Indonesia Stock Exchange (IDX) between 2021 and 2023, for a total of 135 units of analysis, with 89 final units. The research sample was selected using a purposive sampling method. This study used panel data regression analysis with EViews 12 Student Lite and the Random Effects Model (REM). The study's findings indicate that independent commissioners have no effect on SRD. Gender representation on the Board of Directors has a considerable detrimental impact on SRD. Media exposure has a considerable favourable impact on SRD. Meanwhile, ESG has a strong favourable impact on SRD. This study examines the effects of independent commissioners, gender representation on the board of directors, media exposure, and ESG on SRD. The use of ESG as a variable is deemed new, given it is rarely used in SRD studies. This analysis has drawbacks, as the independent commissioner variable had no significant influence, implying that different proxies could be utilized. To increase the adjusted R-squared, future research should include variables such as audit committee, foreign ownership, and family ownership.