Board independence, foreign-educated directors, and sustainability reporting quality: evidence from Indonesia
取締役会の独立性、外国教育を受けた取締役、およびサステナビリティ報告の質：インドネシアのエビデンス (AI 翻訳)
Regina Maharani Parameswari Sapsudin, Sulaeman Rahman Nidar, Mokhamad Anwar, Erman Sumirat
🤖 gxceed AI 要約
日本語
本研究は、インドネシア証券取引所上場58社の2019～2023年のパネルデータを用いて、取締役会の構造がサステナビリティ報告の質に与える影響を分析した。取締役会の独立性と報告の質は逆U字型の非線形関係を示し、外国教育を受けた取締役の比率はU字型の関係を示した。収益性はこの関係を有意に調整しなかった。
English
This study examines how board structure affects sustainability reporting quality using panel data from 58 Indonesian listed firms (2019-2023). It finds an inverted U-shaped relationship between board independence and reporting quality, and a U-shaped relationship for foreign-educated directors. Financial performance does not moderate these relationships.
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
インドネシアの新興市場における取締役会構造とサステナビリティ報告の質の関係を分析。日本企業にも、取締役会の独立性や多様性が開示品質に与える影響を示唆する点で参考となる。
In the global GX context
This paper contributes to the global literature on corporate governance and sustainability disclosure by highlighting nonlinear effects in an emerging market. It offers insights for regulators and firms in similar contexts, though findings are Indonesia-specific.
👥 読者別の含意
🔬研究者:Examines nonlinear relationships between board characteristics and sustainability reporting quality, contributing to governance and disclosure literature.
🏢実務担当者:Board independence should be balanced for optimal sustainability reporting quality; too much independence may reduce effectiveness.
🏛政策担当者:Emerging market regulators may need to consider optimal board composition to enhance sustainability disclosure.
📄 Abstract（原文）
This study examines the influence of board structure on sustainability reporting quality and whether financial performance moderates this relationship in an emerging market context. Using panel data from 58 firms listed on the Indonesia Stock Exchange during 2019–2023, the study employs a fixed effects panel regression model. Sustainability reporting quality is measured using a Global Reporting Initiative (GRI)-based disclosure index, while board structure is captured by board size, foreign-educated board members, and the proportion of independent commissioners. The results show that board independence has a significant nonlinear relationship with sustainability reporting quality, following an inverted U-shaped pattern. This suggests that board independence improves reporting quality up to an optimal level, after which its effectiveness declines. In contrast, the proportion of foreign-educated board members exhibits a U-shaped relationship, indicating a threshold effect in which international educational exposure initially has a negative association with reporting quality at lower levels but becomes positive once a critical proportion is reached. Financial performance, measured by return on assets, does not significantly moderate the relationship between board characteristics and sustainability reporting quality. Overall, the findings highlight that governance effectiveness is context-dependent and bounded, and that financial capacity alone does not necessarily strengthen sustainability reporting practices.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1080/23311975.2026.2694815first seen 2026-07-18 06:19:19
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