THE EFFECTS OF MEDIA EXPOSURE, ENVIRONMENTAL COSTS, AND ENVIRONMENTAL PERFORMANCE ON SUSTAINABILITY REPORT DISCLOSURE: THE MODERATING ROLE OF GOOD CORPORATE GOVERNANCE
メディア露出、環境コスト、環境パフォーマンスがサステナビリティ報告書開示に与える影響：グッド・コーポレート・ガバナンスの調整役割 (AI 翻訳)
Stevanus Adi Prasetya, Teguh Budi Raharjo, Fahmi Firmansyah
🤖 gxceed AI 要約
日本語
本研究は、インドネシア証券取引所の基礎素材企業を対象に、環境コスト、環境パフォーマンス、メディア露出がサステナビリティ報告書開示に与える影響を、グッド・コーポレート・ガバナンス（GCG）の調整効果を考慮して分析した。結果、環境パフォーマンスは開示に正の影響を与えるが、環境コストとメディア露出は有意でない。GCGは環境パフォーマンスと開示の関係を負に調整する。
English
This study analyzes the effects of environmental cost, environmental performance, and media exposure on sustainability report disclosure, with good corporate governance (GCG) as a moderator, among basic materials firms on the Indonesia Stock Exchange (2020-2024). Environmental performance positively influences disclosure, while environmental cost and media exposure do not. GCG negatively moderates the environmental performance-disclosure link.
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
インドネシア市場の事例だが、日本企業のサステナビリティ開示（SSBJ対応や統合報告書）において、環境パフォーマンスの実績が開示の質を高めるという示唆は参考になる。GCGの負の調整効果は、ガバナンス強化が開示に慎重になる可能性を示し、日本の開示実務でも留意すべき点。
In the global GX context
This study contributes to global disclosure scholarship by providing empirical evidence from an emerging market (Indonesia) on determinants of sustainability reporting. It supports legitimacy and stakeholder theories, showing environmental performance drives disclosure. The negative moderating role of governance offers a nuanced view relevant to global discussions on governance and transparency.
👥 読者別の含意
🔬研究者:Provides empirical evidence on sustainability disclosure determinants in an emerging market, useful for comparative studies.
🏢実務担当者:Highlights the importance of environmental performance in enhancing sustainability disclosure, relevant for corporate reporting strategies.
🏛政策担当者:Suggests that environmental performance metrics could be incentivized to improve disclosure quality, informing regulatory design.
📄 Abstract（原文）
This study examines the effects of Environmental Cost, Environmental Performance, and Media Exposure on Sustainability Report Disclosure, with Good Corporate Governance (GCG) acting as a moderating variable among basic materials companies listed on the Indonesia Stock Exchange from 2020 to 2024. The results indicate that Environmental Performance positively and significantly influences sustainability reporting, suggesting that companies with stronger environmental achievements are more likely to disclose sustainability information to enhance accountability and maintain legitimacy among stakeholders. Conversely, Environmental Cost and Media Exposure do not exhibit significant effects, indicating that environmental expenditures and media attention are not primary drivers of sustainability disclosure in the observed firms. The findings also reveal that GCG significantly moderates the relationship between Environmental Performance and Sustainability Report Disclosure, although the moderating effect is negative. This suggests that stronger governance mechanisms may lead companies to be more selective and cautious when communicating sustainability-related information. However, GCG does not significantly moderate the relationships involving Environmental Cost and Media Exposure. The study supports both Legitimacy Theory and Stakeholder Theory by emphasizing the importance of environmental performance in encouraging sustainability reporting. From a practical perspective, companies should prioritize improving environmental performance to strengthen sustainability disclosure practices. Despite its contributions, the study is limited to the basic materials sector and employs a single proxy for corporate governance. Future research is recommended to include broader governance measures, additional explanatory variables, and different industry sectors to provide a more comprehensive understanding of sustainability reporting determinants.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.32424/icsema.v2i1.676first seen 2026-08-12 04:57:22
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