Stakeholder Pressure and Ownership Structure on Sustainability Report Disclosure
Rina Tjandrakirana DP, Ermadiani Ermadiani, Apriyansyah Apriyansyah, Alditya Aris Rinandy, Zahwa Aliyah
🤖 gxceed AI 要約
日本語
本稿は、インドネシア証券取引所上場のエネルギー企業18社（2021-2023年）を対象に、ステークホルダー圧力と外国所有がサステナビリティ報告の開示レベルに与える影響を分析。パネルデータ回帰の結果、投資家圧力と監査圧力は有意でなく、外国所有は10%水準で正の効果を示した。新興国における外国投資家の役割を強調。
English
This study examines the effects of stakeholder pressure (investor orientation and external audit) and foreign ownership on sustainability report disclosure levels among 18 Indonesian energy firms (2021-2023). Panel regression finds no significant effects for investor or audit pressure, but foreign ownership positively influences disclosure at the 10% level. Highlights the role of foreign investors in enhancing ESG transparency in emerging markets.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
本稿はインドネシアの事例だが、日本企業にとっても海外投資家がESG開示を促進する示唆は共有できる。SSBJ基準への適応や外国人株主対応の参考となる可能性。
In the global GX context
While focused on Indonesia, this paper reinforces the global narrative that foreign ownership drives ESG transparency. For international readers, it provides empirical evidence from an emerging market context, complementing studies from developed economies like Japan or the EU.
👥 読者別の含意
🔬研究者:Provides a small-sample empirical test of stakeholder pressure and ownership effects on ESG disclosure in an emerging market, useful for comparative studies.
🏢実務担当者:Suggests that attracting foreign investors may improve sustainability reporting, but domestic audit and investor pressure need strengthening.
🏛政策担当者:Highlights the need for policies that enhance domestic investor ESG awareness and audit quality to align with international standards.
📄 Abstract（原文）
General background: Global attention to sustainability has increased significantly, urging companies to integrate social and environmental accountability into business practices through sustainability reports. Specific background: In Indonesia, regulations such as POJK No. 51/POJK.03/2017 have strengthened the disclosure of Environmental, Social, and Governance (ESG) information, particularly in energy sector firms with high environmental impacts. Knowledge gap: However, prior studies reveal inconsistent findings regarding how stakeholder pressure and ownership structure influence the extent of sustainability report disclosure. Aims: This study examines the effects of stakeholder pressure—measured by investor orientation and external audit pressure—and foreign ownership structure on the level of sustainability report disclosure among energy companies listed on the Indonesia Stock Exchange during 2021–2023. Results: Using panel data regression on 18 companies (54 observations), the findings show that investor and audit pressures have no significant effects, while foreign ownership positively influences disclosure at the 10% level (β = 0.177; p = 0.054). Novelty: The study highlights that foreign investors play a critical role in enhancing sustainability transparency in emerging markets. Implications: Strengthening domestic investor awareness and external audit roles is essential to improving sustainability reporting quality and aligning Indonesia’s corporate practices with international ESG standards. Highlights: Foreign ownership significantly enhances sustainability report transparency. Investor and audit pressures show no significant effect in Indonesia’s energy firms. Findings emphasize the need to strengthen domestic ESG engagement and governance. Keywords: Stakeholder Pressure, Foreign Ownership, Sustainability Report, Esg Disclosure, Audit Quality
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.21070/acopen.10.2025.12773first seen 2026-05-14 22:07:00
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