Does industry type matter?. Sustainability reporting disclosure gaps between manufacturing and non-manufacturing firms
Keywords:
Sustainability, Sustainability Report, GRIAbstract
This study examines the differences in the level of sustainability report disclosures between manufacturing and non-manufacturing companies listed on the Indonesia Stock Exchange in 2022. Using GRI standards, the analysis was conducted on 699 companies selected through purposive sampling. The Mann-Whitney test results show that manufacturing companies have higher levels of sustainability disclosure compared to non-manufacturing companies. This research is significant as it addresses the global demand for corporate accountability in sustainability, particularly in Indonesia, where disclosure quality varies across sectors. The findings emphasize that stakeholder and regulatory pressures play a critical role in promoting sustainability practices, consistent with Stakeholder Theory and Legitimacy Theory. The implications of this study highlight the need for stricter regulatory policies to encourage sustainability disclosures across all sectors. Non-manufacturing companies can leverage these findings to enhance their reputation and competitiveness through the adoption of sustainability practices. This study provides strategic insights for regulators, companies, and the public to strengthen sustainability agendas comprehensively.
Abstrak
Penelitian ini membahas perbedaan tingkat pengungkapan laporan keberlanjutan antara perusahaan manufaktur dan non-manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2022. Dengan menggunakan standar GRI, analisis dilakukan terhadap 699 perusahaan melalui purposive sampling. Uji Mann-Whitney menunjukkan perusahaan manufaktur memiliki tingkat pengungkapan keberlanjutan yang lebih tinggi dibandingkan non-manufaktur. Penelitian ini penting karena menjawab tuntutan global terhadap akuntabilitas keberlanjutan, terutama di Indonesia, yang memiliki kualitas pengungkapan bervariasi antar sektor. Temuan ini menegaskan bahwa tekanan pemangku kepentingan dan regulasi memainkan peran signifikan dalam mendorong praktik keberlanjutan, sesuai dengan Teori Pemangku Kepentingan dan Teori Legitimasi. Implikasi penelitian ini meliputi perlunya kebijakan regulator yang lebih ketat untuk mendorong pengungkapan keberlanjutan di semua sektor. Perusahaan non-manufaktur dapat menggunakan temuan ini untuk meningkatkan reputasi dan daya saing melalui adopsi praktik keberlanjutan. Penelitian ini memberikan wawasan strategis bagi regulator, perusahaan, dan masyarakat.
References
Agustina, I., & Pradesa, H. A. (2024). Praktek Pelaporan Keberlanjutan Di Indonesia: Sebuah Telaah Kritis Atas Literatur Terdahulu. Jurnal Ekonomi, Manajemen Akuntansi Dan Perpajakan (Jemap), 7(1), 24–46.
Al-Shaer, H., Albitar, K., & Hussainey, K. (2022). Creating sustainability reports that matter: an investigation of factors behind the narratives. Journal of Applied Accounting Research, 23(3), 738–763.
Ambarwati, S., Azizah, W., & Aprizalni, L. (2024). Corporate Governance Dan Manajemen Laba. Jurnal Akuntansi Dan Bisnis Indonesia, 5(1), 73–84. https://doi.org/https://doi.org/10.55122/jabisi.v5i1.1260
Aryanti, F., & Aryani, Y. A. (2020). Kepemilikan publik, tipe industri dan pengungkapan lingkungan: studi komparatif Indonesia dan Singapura. Wahana: Jurnal Ekonomi, Manajemen Dan Akuntansi, 23(2), 131–144.
Azizah, W. (2022). Pandemi COVID-19: Apakah Mempengaruhi Green Accounting di Indonesia? Review of Applied Accounting Research (RAAR), 2(2), 153. https://doi.org/10.30595/raar.v2i2.13679
Azizah, W., & Fujianti, L. (2024). Green Accounting and Earnings Management in Indonesia Manufacturing Companies. Atestasi: Jurnal Ilmiah Akuntansi, 7(1), 884–894. https://doi.org/https://doi.org/10.57178/atestasi.v7i2.841
Azizah, W., Murni, Y., & Utami, R. R. (2022). Pengaruh Financial Target, Ineffective Monitoring, Pergantian Auditor, dan Perubahan Direksi Terhadap Kecurangan Laporan Keuangan. Widyakala: Journal of Pembangunan Jaya University, 9(2), 99–109. https://doi.org/10.36262/widyakala.v9i2.572
Azizah, W., & Nurjaman, M. I. (2023). Determinant of Coal Sector Firm Value in Indonesia. International Journal of Business and Technology Management, 5(4), 412–423. https://doi.org/https://doi.org/10.55057/ijbtm.2023.5.4.37
Cahyo, R. D., Murni, Y., & Azizah, W. (2022). Determinan Integritas Laporan Keuangan. Akrual : Jurnal Akuntansi Dan Keuangan, 4(1), 1–10.
Carmo, C., & Miguéis, M. (2022). Voluntary sustainability disclosures in non-listed companies: An exploratory study on motives and practices. Sustainability, 14(12), 7365.
Crocco, E., Broccardo, L., Alofaysan, H., & Agarwal, R. (2024). Sustainability reporting in carbon‐intensive industries: Insights from a cross‐sector machine learning approach. Business Strategy and the Environment, 33(7), 7201–7215.
Deegan, C. M. (2019). Legitimacy theory: Despite its enduring popularity and contribution, time is right for a necessary makeover. Accounting, Auditing & Accountability Journal, 32(8), 2307–2329.
Elkington, J. (2013). Enter the triple bottom line. In The triple bottom line: Does it all add up? (pp. 1–16). Routledge.
Farhan, M. (2024). Keseimbangan Risiko dan Imbal Hasil Dalam Strategi Investasi Berkelanjutan: Pendekatan Integratif Terhadap Faktor Lingkungan, Sosial, dan Tata Kelola Perusahaan (ESG). Currency: Jurnal Ekonomi Dan Perbankan Syariah, 2(2), 243–264.
Fernando, S., & Lawrence, S. (2014). A theoretical framework for CSR practices: Integrating legitimacy theory, stakeholder theory and institutional theory. Journal of Theoretical Accounting Research, 10(1), 149–178.
Freeman, R. E., Harrison, J. S., Wicks, A. C., Parmar, B., & de Colle, S. (2010). Stakeholder theory: The state of the art. In Stakeholder Theory: The State of the Art (Vol. 99). https://doi.org/10.1017/CBO9780511815768
Fujianti, L., Azizah, W., & Rizal, N. (2024). The double-edged sword of transparency : ESG disclosure ’ s effect on competitive dynamics in manufacturing. 8(6), 1735–1750. https://doi.org/10.55214/25768484.v8i6.2335
Fujianti, L., Rizal, N., Azizah, W., Astuti, S. B., Hilmiyah, N., & Qodriyah, A. L. (2024). Good Corporate Governance dan Environmental, Social, Governance Disclosures Di Indonesia. Jurnal Reviu Akuntansi Dan Keuangan, 14(1), 19–36. https://doi.org/10.22219/jrak.v14i1.28986
Hahn, R., & Kühnen, M. (2013). Determinants of sustainability reporting: A review of results, trends, theory, and opportunities in an expanding field of research. Journal of Cleaner Production, 59, 5–21. https://doi.org/10.1016/j.jclepro.2013.07.005
Handoko, B. L. (2021). Stakeholder Theory dan Hubungannya dengan Sustainability Report. Binus University.
Hardiyansah, M., Agustini, A. T., & Purnamawati, I. (2021). The effect of carbon emission disclosure on firm value: environmental performance and industrial type. The Journal of Asian Finance, Economics and Business, 8(1), 123–133.
Hendratni, T. W., Azizah, W., Astuti, S. B., Rizal, N., Irawan, I. A., Wahyoeni, S. I., Wahyudi, A., Trirahayu, D., Suyatna, A. R., & Azzahrah, F. (2024). Membangun Kesadaran Green Entrepreneur pada Siswa/I SMA Sejahtera 1 Depok. Communnity Development Journal, 5(1), 820–829. https://doi.org/https://doi.org/10.31004/cdj.v5i1.23935
Higgins, C., Milne, M. J., & Van Gramberg, B. (2015). The uptake of sustainability reporting in Australia. Journal of Business Ethics, 129, 445–468.
Indika, M. (2015). Pengaruh Struktur Kepemilikan Dan Leverage Terhadap Pengungkapan Corporate Social Responsibility Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Fordema, 12(1), 103–120.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
Julythiawati, N. P. M., & Ardiana, P. A. (2023). Pengaruh pelibatan pemangku kepentingan dan tanggung jawab sosial pada reputasi perusahaan. Public Service and Governance Journal, 4(2), 239–246.
Laskar, N., & Maji, S. G. (2016). Corporate sustainability reporting practices in India: myth or reality? Social Responsibility Journal, 12(4), 625–641.
Lozano, R. (2024). Mechanisms for Sustainability Change in Organisations: Leadership, Governance, and Assessment and Reporting. In Organisational Change Management for Sustainability (pp. 93–112). Springer.
Majid, M., Lysandra, S., Masri, I., & Azizah, W. (2020). Pengaruh Kecakapan Manajerial Terhadap Manajemen Laba Akrual Dan Riil (Studi Empiris pada Perusahaan LQ45 yang Terdaftar di Bursa Efek Indonesia Periode 2016?2018). Jurnal Ilmiah Akuntansi Dan Manajemen (JIAM), 16(1), 70–84.
Massa, L., Farneti, F., & Scappini, B. (2015). Developing a sustainability report in a small to medium enterprise: process and consequences. Meditari Accountancy Research, 23(1), 62–91.
Meutia, I. (2009). Shari’ah Enterprise Theory Sebagai Dasar Pengungkapan Tanggungjawab Sosial Bank Syariah. Universitas Brawijaya Malang.
Mion, G., & Adaui, C. R. L. (2019). Mandatory nonfinancial disclosure and its consequences on the sustainability reporting quality of Italian and German companies. Sustainability (Switzerland), 11(17), 1–28. https://doi.org/10.3390/su11174612
Muhyidin, J., Ambarwati, S., & Azizah, W. (2021). Faktor Yang Mempengaruhi Nilai Perusahaan Sektor Industri Dasar Dan Kimia. RELEVAN : Jurnal Riset Akuntansi, 2(1), 49–61. https://doi.org/10.35814/relevan.v2i1.2822
Mujiani, S., & Nurfitri, T. (2020). Analisis Faktor-Faktor Yang Mempengaruhi Pengungkapan Sustainability Report Pada Perusahaan LQ45 Yang Terdaftar Di Bursa Efek Indonesia Sari. Jurnal Akuntansi Dan Keuangan, 2(1), 18–35.
Pambayun, E. L., & Permassanty, T. D. (2021). An Integrated Marketing Communication Circle in 4.0 Era: Filosofi, Konsep, dan Implementasi. Penerbit Adab.
Pasaribu, M., & Soeratin, H. Z. (2024). Pengaruh Pengawasan Komite Audit terhadap Kualitas Pengungkapan ESG Perusahaan. Journal of Business Economics and Management| E-ISSN: 3063-8968, 1(2), 65–71.
Pertiwi, I. D. A. E., Putri, P. Y. A., & Dewi, I. G. A. R. P. (2024). Analisis Sustainability Reporting Sebelum dan Sesudah Penerapan Standar Global Reporting Initiative (GRI) 2021. EKOMA: Jurnal Ekonomi, Manajemen, Akuntansi, 4(1), 2588–2609.
Prasetyo, Y., Amyulianthy, R., Azizah, W., S, B. G., Lysandra, S., & Suryadi, H. (2021). Pengaruh Pengungkapan Islamic Social Reporting Dan Corporate Governance Terhadap Accruals Earning Management Pada Perbankan Syariah Di Indonesia….. Al-Mal: Jurnal Akuntansi Dan Keuangan Islam, 2(01), 01–16. https://doi.org/10.24042/al-mal.v2i01.8032
Pratama, A., Jaenudin, E., & Anas, S. (2022). Environmental, social, governance sustainability disclosure using international financial reporting sustainability standards S1 in Southeast Asian companies: a preliminary assessment. International Journal of Energy Economics and Policy, 12(6), 456–472.
Purwant, G. N., & Sisdianto, E. (2024). Dampak Implementasi Akuntansi Sosial dan Lingkungan terhadap Keberlanjutan Perusahaan: Studi pada Sektor Kehutanan dan Perkebunan. Akuntansi, 3(4), 136–149.
Rindawati, M. W., & Asyik, N. F. (2015). Pengaruh profitabilitas, ukuran perusahaan, leverage, dan kepemilikan publik terhadap pengungkapan corporate social responsibility (CSR). Jurnal Ilmu Dan Riset Akuntansi (JIRA), 4(6).
Rosa, M. R. da, Boscarioli, C., & Freitas Zara, K. R. de. (2024). A systematic review of the trends and patterns of sustainability reporting in universities. International Journal of Sustainability in Higher Education, 25(3), 556–576.
Rozi, S., & Khaddafi, M. (2024). Dampak Pasar Karbon Terhadap Keuangan Perusahaan Dalam Konteks Kebijakan Lingkungan. Jurnal Ilmiah Metansi (Manajemen Dan Akuntansi), 7(2), 287–297.
Rudyanto, A. (2021). Is Mandatory Sustainability Report Still Beneficial? Jurnal Akuntansi Dan Keuangan Indonesia, 18(2), 2.
Rusu, T. M., Odagiu, A., Pop, H., & Paulette, L. (2024). Sustainability Performance Reporting. Sustainability (2071-1050), 16(19).
Saeed, M. M., Mohammed, S. S., Kumari, M., & Pandey, G. (2024). The impact of corporate environmental reporting on the financial performance of listed manufacturing firms in Ghana (Csr‐24‐2036). Corporate Social Responsibility and Environmental Management.
Sahore, N., & Verma, A. (2017). Corporate disclosures and financial performance of selected Indian manufacturing and non-manufacturing companies. Accounting and Finance Research, 6(1).
Sari, R., & Muslim, M. (2024). Corporate Transparency and Environmental Reporting: Trends and Benefits. Amkop Management Accounting Review (AMAR), 4(1), 1–18.
Siahaan, M. (2022). Dampak Pelaksanaan Tanggung Jawab Sosial terhadap Masyarakat, Lingkungan dan Pemerintah. Studi Akuntansi, Keuangan, Dan Manajemen, 1(2), 113–125.
Sicoli, G., Bronzetti, G., Ruisi, M., & Rija, M. (2024). Sustainable development goals in the sustainability report. CORPORATE OWNERSHIP & CONTROL, 21(3), 47–58.
Singh, M. P., Chakraborty, A., Roy, M., & Tripathi, A. (2021). Developing SME sustainability disclosure index for Bombay Stock Exchange (BSE) listed manufacturing SMEs in India. Environment, Development and Sustainability, 23, 399–422.
Sudarmaji, E., Yatim, M. R., Harsono, H., Masrio, H., & Azizah, W. (2024). Quantifying Drivers of GHG Emissions in ASEAN: Modeling CO2 Emissions Using LMDI and ARIMAX Approaches. International Journal of Energy Economics and Policy, 14(6), 426–435. https://doi.org/10.32479/ijeep.17186
Sunani, A., Widodo, U. P. W., Wijaya, R. M. S. A. A., & Kirana, N. W. I. (2024). Environmental disclosure analysis of manufacturing companies to realize sustainable green economy. Intangible Capital, 20(2), 321–342.
Suryahanjaya, B., Putra, B., & Nugroho, C. (2024). Inovasi Strategi Bisnis dalam Menghadapi Pola Konsumsi dan Produk F&B yang Berkelanjutan. Prosiding Seminar Nasional Ekonomi Dan Bisnis, 4, 38–48.
Syairozi, M. I. (2019). Pengungkapan CSR pada perusahaan manufaktur dan perbankan. Tidar Media.
Taj, S. A. (2016). Application of signaling theory in management research: Addressing major gaps in theory. European Management Journal, 34(4), 338–348.
Ulum, I. (2017). Intellectual Capital (Model Pengukuran, Framework Pengungkapan, dan Kinerja Organisasi).
Vishnu Nampoothiri, M., Entrop, O., & Annamalai, T. R. (2024). Effect of mandatory sustainability performance disclosures on firm value: Evidence from listed European firms. Corporate Social Responsibility and Environmental Management.
Wang, L. (2023). Unlocking the link between company attributes and sustainability accounting in shanghai: firm traits driving corporate transparency and stakeholder responsiveness. Frontiers in Environmental Science, 11, 1273445.
Wilana, W., & Naryoto, P. (2024). Implementasi Green Business Practices Dan Pengaruhnya Terhadap Kinerja Keuangan Perusahaan Manufaktur. Jurnal Review Pendidikan Dan Pengajaran (JRPP), 7(3), 11164–11174.
Wira, A. S., Wardoyo, D. U., Islahuddin, M. L., Safitri, R. G., & Putri, S. N. (2022). Pengaruh sustainability report terhadap nilai perusahaan (Studi Perusahaan Non Keuangan dari tahun 2018-2020) Proxy: PBV (Price to Book Value). Jurnal Publikasi Ekonomi Dan Akuntansi, 2(2), 161–166.
Yáñez, S., Uruburu, Á., Moreno, A., & Lumbreras, J. (2019). The sustainability report as an essential tool for the holistic and strategic vision of higher education institutions. Journal of Cleaner Production, 207, 57–66.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Muhammad Rubiul Yatim, Muhammad Izzah Al Islami, Ade Wahyudi, Petiana Indriati, Widyaningsih Azizah
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Articles publised in Keberlanjutan : Jurnal Manajemen dan Jurnal Akuntansi are licensed under Creative Commons Attribution 4.0 International License. You are free to :
- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
Copyright on articles is retained by the respective author(s), without restrictions. A non-exclusive license is granted to Keberlanjutan : Jurnal Manajemen dan Jurnal Akuntansi to publish the article and identify itself as its original publisher, along with the commercial right to include the article in a hardcopy issue for sale to libraries and individuals.
By publishing in Keberlanjutan : Jurnal Manajemen dan Jurnal Akuntansi, authors grant any third party the right to use their article to the extent provided by the Creative Commons Attribution 4.0 International License.
