Does Commissioner Tenure Reduce Esg Disclosure? Evidence From Indonesian Manufacturing Firms Under A Two-Tier Governance System
DOI:
https://doi.org/10.30656/zyjc1w47Abstract
This study is motivated by the increasing importance of Environmental, Social, and Governance (ESG) as a non-financial performance indicator, as well as the variation in ESG disclosure practices among companies in Indonesia. The objective of this study is to examine the effect of commissioner tenure on ESG disclosure in manufacturing companies listed on the Indonesia Stock Exchange during the period 2021–2024. This study employs a quantitative approach using panel data regression analysis. The sample consists of 30 companies with a total of 120 observations. The independent variable is commissioner tenure, while firm size, board size, and profitability are included as control variables. The model selection results indicate that the Fixed Effect Model (FEM) is the most appropriate model. The findings reveal that commissioner tenure has a negative and significant effect on ESG disclosure, suggesting that longer tenure may reduce the level of ESG transparency. In addition, board size has a positive and significant effect, while firm size and profitability show no significant impact. Simultaneously, all variables in the model significantly influence ESG disclosure. These results highlight the importance of balancing experience and independence of the board of commissioners to enhance ESG disclosure quality.
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