Sustainability Report terhadap Nilai Perusahaan: Studi Perusahaan yang Terdaftar dalam Sustainability Report Rating

This study aims to provide empirical evidence of the impact of financial performance, leverage, and business size on materiality disclosure in sustainability reports by classifying the sample as environmentally sensitive or non-sensitive. This research is a quantitative exploratory study. This study used purposive sampling with a variety of criteria, yielding 66 companies and 264 observational data points. The data was analyzed using multigroup panel regression. The study's findings show that financial success positively affects materiality disclosure in sustainability reports in sensitive businesses but has no effect in non-sensitive companies. Leverage does not affect materiality disclosure in sustainability reports in sensitive organizations; nevertheless, it has a beneficial effect in non-sensitive enterprises. Both sensitive and non-sensitive company sizes have a detrimental impact on materiality disclosure in sustainability reports. With the lack of go public companies that consistently publish sustainability reports, this research has implications for go public companies to consistently publish sustainability reports every year and pay more attention to materiality aspects in making them.

This study aims to examine the turnover of the board of commissioners, board of directors, audit committee, and independent board of directors on the disclosure of sustainability reports. In this study turnover was measured using member recruitment and member removal. The sample in this study amounted to 135 samples from 45 financial companies listed on the Indonesia Stock Exchange during the 2016-2018 period. The analysis technique used is panel data regression analysis using STATA 13. The results of this study found that the recruitment of the board of commissioners, the board of directors, and the audit committee have a significant effect on disclosure of sustainability reports. The recruitment of an independent board of directors has no significant effect on disclosure of sustainability reports. While the removals of board of commissioners and directors have no effect. This study provides a new understanding of corporate governance in which the recruitment of members of the board of commissioners and directors will affect the disclosure of corporate sustainability reports. This study uses a new measure, that is the recruitment and removal of members of the board of commissioners and directors.

The objective of this study was to examine the impact of leverage and good corporate governance on the disclosure of a company's sustainability report. This study employs quantitative methods. This study utilizes secondary data, specifically annual reports and sustainability reports or Sustainability Reports of banking businesses listed in BUKU 2, both of which were listed on the Indonesia Stock Exchange (IDX) during the period of 2020-2021. This study employed descriptive statistical tests, classical assumption tests including normality tests, multicollinearity tests, heteroscedasticity tests, and autocorrelation tests, and hypothesis testing including coefficient of determination test, f test, and t-test. The analytical tool used in this study is the SPSS 2.6 application. The results of this study indicate that Leverage, the Number of Boards of Commissioners, and the Number of Audit Committees do not influence the disclosure of sustainability reports in the banking industry listed in BUKU 2. At the same time, the proportion of Independent Commissioners affects the disclosure of sustainability reports in the banking industry listed in BUKU 2. Furthermore, the results of simultaneous calculations show that the Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), the Board of Commissioners, the Independent Board of Commissioners, the Audit Committee and Total Assets simultaneously (simultaneously) have a significant effect on the disclosure of the sustainability report as well as the regression equation used in this study is reliable.

The primary purpose of having a sustainability report is to enhance the confidence of the public in the company, ultimately leading to an increase in the company's worth. Firm Value refers to how investors perceive the company and is a significant factor they consider when making investment choices. The aim of this study is to analyze how the disclosure of Sustainability Reports affects the valuation of companies that are listed on the Sri-Kehati Stock Index. The sample selection was carried out using the purposive sampling method, so as to obtain a sample of 7 companies with an observation period of 5 years (2017-2021). This study employs quantitative data analysis, specifically using secondary data obtained from sustainability reports and annual reports accessed through the respective company websites. The research utilizes multiple linear regression as the chosen technique. The findings of this study suggest that there is no notable impact on the value of Sri-Kehati Stock Index Listed Companies based on the disclosure of sustainability reports, economic disclosures, environmental disclosures, and social disclosures. These results have theoretical implications, as they challenge the ability of stakeholder theory to explain the findings, while behavioral theory may provide a more suitable explanation. Furthermore, this research has practical implications for both issuers and the government, indicating that the disclosure of sustainability reports does not contribute to an increase in firm value.
 Keywords: Disclosure of Sustainability Report, Firm Value

The industry must deal with environmental issues by implementing green accounting and disclosure of sustainability reports. This study aimed to determine the effect of implementing green accounting and disclosure of sustainability reports on firm value. The research was conducted in Indonesia Manufacturing companies with an observation period of 2019-2021. The data analysis technique used is Multiple Linear Regression Analysis. The study results show that applying green accounting has a positive effect on firm value, and disclosure of sustainability reports has a negative effect on firm value. The application of green accounting can significantly increase the company’s value. However, the disclosure of the sustainability report shows a negative result because the company continues to improve its sustainability reports, but the increase is not in line with firm value.

This research was carried out with the aim of testing Good Corporate Governance on Disclosure of Sustainability Reports with Company Size as Moderation. Good Corporate used in this study is using Independent Commissioners, Audit Committee, Board of Directors and Managerial Ownership. Disclosure of the Sustainability Report that is disclosed is Economic, Social and Environmental. The size of the company uses the Logarithm of Natural Assets (LN Assets). This type of research used is quantitative research. The population of this study are state-owned companies listed on the Indonesia Stock Exchange for the 2015-2020 period. The sample selection used was the purposive sampling method from 56 registered state-owned companies and based on the available criteria, the number of samples was 9 companies that met the criteria. Documentation techniques are used as data collection, outer model analysis and inner model are data analysis used for this study using the smartPLS 3.2.7 application. The results of the research that has been conducted show that (1) the Independent Commissioner has influence over the disclosure of the Sustainability Report, (2) the Audit Committee has influence over the disclosure of the Sustainability Report, (3) the board of directors has influence over the disclosure of the Sustainability Report, (4) Managerial ownership has an influence on the disclosure of the Sustainability Report, (5) Company size cannot moderate the influence of independent commissioners on the disclosure of the Sustainability Report, (6) Company size cannot moderate the influence of the audit committee on the disclosure of the Sustainability Report, (7) Company size cannot moderate the influence of the board of directors on the disclosure of the Sustainability Report, (8) Company size cannot moderate the effect of managerial ownership on the disclosure of the Sustainability Report. The implications of this research are from previous research examining GCG on disclosure of sustainability reports, the results are still inconsistent.

– The purpose of this study is to see how characteristics of the board of directors affect the disclosure of sustainability reports. This study collects samples through purposive sampling technique. A total of 135 sample data were taken from companies in Indonesia that were included in the Kompas 100 index, for three consecutive years, which disclosed sustainability reports. The year under study is the latest and closest year, 2018-2020. Disclosure of sustainability reports will use the GRI Sustainability Report Disclosure Index (SRDI) indicator (2018) with a total assessment of 250 indicators, each indicator listed will be given a value of one. The size of the board of directors will be using the natural logarithm of board size. Board gender diversity from both sides will use their respective proportions to the entire board of directors. The STATA program was used in this study because it was considered the most suitable for the research technique. This research resulted in board size having a significant and positive effect on the disclosure of sustainability reports. Board diversity from female on board has an effect but not significantly on the disclosure of sustainability reports. Finally, board diversity from male on board also has an effect but not significantly on the disclosure of sustainability reports.
 Keywords: Board Characteristic; Sustainability Report Disclosure; Board Size; Board Diversity

Companies listed on the Indonesia Stock Exchange are companies that need funds from investors so that stakeholders have an important role in the sustainability of the company. companies must make returns on investments made by investors so that companies do various ways to increase profits. Profitability ratios can be used to measure profits that can be obtained by the company. The purpose of this study to analyze the factors that are considered to affect the company's profitability include intellectual capital calculated using the VAICTM formula and disclosure of sustainability reports calculated using the IndexSR formula based on the GRI-G4 Sustainability Report Guidelines. The sample in this study were 19 companies listed on the Indonesia Stock Exchange for the 2014-2016 period. The method used in this study is descriptive statistics and panel data regression. The sample selection technique used is purposive sampling. Data analysis method uses panel data regression analysis with a significance level of 5%. Based on the results of the study, simultaneous intellectual capital and disclosure of sustainability reports have a significant effect on company profitability of 31.4701%. Partially, intellectual capital has a significant positive effect on profitability while disclosure of sustainability reports does not affect profitability.

Purpose: This research aims to investigate the impact of environmental, social, and governance (ESG) risk on firm value and analyse the disclosure of materiality as a moderation variable. Methodology/Approach: We select research data through purposive sampling. We obtain ESG risk scores from Sustainalytics. Content analysis measures the materiality of sustainability disclosures. We processed 204 company data sets in Indonesia using moderated regression analysis techniques between 2020 and 2022. Findings: Empirical results show that greater environmental, social, and governance risks will lower firm value. Furthermore, the disclosure of materiality in the sustainability report can moderate the negative impact of ESG risk on the firm's value. Research Limitation/Implication: This research's implications are essential for standard-makers and governments to increase corporate attention to environmental, social, and governance risk aspects. The company's operations pose ESG risk, which negatively impacts market value as investors rely on this information for their decision-making. Furthermore, this research also implies that management understands the importance of materiality in sustainability reports. Originality/Value of paper: This research enriches existing literature on corporate risk, focusing on environmental, social, and governance risks. This paper also adds references to materiality disclosure in sustainability reports.

The purpose of this study is to examine the effect of capital structure on firm value in energy companies listed on the Indonesia Stock Exchange (IDX) during the period 2021–2023, and to investigate whether profitability moderates the relationship between capital structure and firm value in these companies. This research uses a quantitative method. The population consists of 99 financial report samples from energy sector companies engaged in oil, gas, and coal that are listed on the IDX. The object of this research is energy sector companies in the oil, gas, and coal industries listed on the Indonesia Stock Exchange. The data analysis technique employed is multiple linear regression analysis using EViews software. The type of data used in this study is secondary data. The results of the study show that capital structure has a significant effect on firm value in energy sector companies (oil, gas, and coal) listed on the IDX. Furthermore, profitability moderates the effect of capital structure on firm value in these companies.

This study aimed to clarify the significance of sustainability reports and test the impact of the disclosure of sustainability reports on firm value. To achieve this end, the researcher conducted an applied study of the firms listed on the Saudi stock market during the period from 2017 to 2021. A sample of (60) firms was selected with a total number of 300 data points. Firm value was measured using four different measures: Tobin's Q, market value per share, price/book value ratio per share, and security return. An indicator was created to measure the level of disclosure of sustainability reports and another to measure the quality of disclosure of sustainability reports. To measure the study's variables, the content analysis method was used. Based on the results of the regression analysis, the study concluded that an intrinsic correlation exists between the level of disclosure of sustainability reports and the firm value, as well as a correlation between the quality of disclosure of sustainability reports and the firm value. The study recommends the following: First, an accounting standard for the disclosure of sustainability reports should be issued. Secondly, sustainable development criteria should be included in the academic criteria at Saudi universities. Thirdly, meetings with accountants and members of the Saudi capital market and firms should be held to find solutions to the challenges facing firms when preparing sustainability reports. Finally, further scientific research should be conducted in this field.

This study aims to collect data and Knowing the influence between good corporate governance and gender diversity with the disclosure of the Sustainability Report. In this study, mining companies listed on the Indonesia Stock Exchange (IDX) for 2019 to 2021 were used in an effort to obtain information about sustainability report disclosures that can be influenced by good corporate governance and gender diversity. Purposive sampling was used in this study with secondary data sources from IDX to collect high-quality data. According to the research findings, the board of commissioners and audit committee will have a positive effect on the disclosure of sustainability reports, Conversely, the findings show that the independent board of commissioners, board of directors and gender diversity have no effect on the disclosure of sustainability reports. Limitations of this study include the use of samples and the length of the period. And only show two variables that will have an effect on the disclosure of sustainability reports. Researchers suggest comparing with more varied samples and adding or utilizing other variables to determine the effect on sustainability report disclosure.

Indonesia is currently being hit by the coronavirus disease 2019 (COVID-19-19) pandemic, making the level of competition between companies more competitive to generate profits. This strongly encourages companies to look for ways to attract investors' attention in capital market. The purpose of this study is to analyse the effect of corporate social responsibility (CSR) disclosure and revenue growth on the firm performance of sustainable companies listed on the Indonesia Stock Exchange (IDX). This study will examine whether there is a relationship between CSR disclosure in sustainability reports and revenue growth on firm performance. CSR is measured by GRI-Standards. Firm performance is measured by return on assets (ROA), return on equity (ROE), return on invested capital (ROIC), and economic value added (EVA). A sample of 37 companies was obtained from purposive sampling method, in which companies listed on IDX must completely published sustainability reports during the 2016-2020 period. The analysis technique with panel-based data regression. The results of this research show that CSR disclosure in sustainability reports has a significant positive effect on firm performance (EVA). Revenue growth in sustainable companies also has a significant positive effect on firm performance (ROE).

Globalization fosters economic growth and intensifies competition within the business sector, highlighting the increasing importance of information transparency as a source of competitive advantage. Risk disclosures and Sustainability Reports play a pivotal role in enhancing stakeholder trust and boosting firm value through transparency. This study investigates the impact of risk disclosure and Sustainability Report disclosures on firm value, while also exploring the moderating role of Corporate Governance. Using purposive sampling, data from 80 companies listed in the Kompas 100 index in 2022 were analyzed using E-Views software. The findings reveal that risk disclosure positively influences firm value, whereas the disclosure of Sustainability Reports does not significantly affect firm value. Additionally, CG moderates the relationship between risk disclosure and firm value, reinforcing its negative impact, while CG strengthens the positive relationship between Sustainability Report disclosure and firm value. These results offer valuable insights into the role of transparency and governance in shaping corporate outcomes in a globalized market.

This study aims to determine the environmental, social, and governance of the firm value in this study are all companies listed on the Indonesia Stock Exchange from 2016-2020. The determination of the sample in this study used purposive sampling with the number of samples used by as many as 27 companies during the year. a period of 5 consecutive years of observation so that the total sample obtained is 135. This study uses Stata 14, the analytical technique used is panel data regression analysis. The results showed that the first hypothesis was found that the environment variable's disclosure had a positive and significant effect on firm value in companies listed on the Indonesia Stock Exchange. Social variable disclosure has a positive and significant impact on firm value in companies listed on the Indonesia Stock Exchange. Governance variable disclosure has a negative and significant impact on firm value in companies listed on the Indonesia Stock Exchange. While testing with the control variable, namely the company's size, partially has a significant negative effect on firm value, the leverage and profitability variables partially have a significant effect on firm value.