The Role of Women on Boards as Moderators of the Influence of Company Size, Company Age, and Institusional Ownership on ESG Disclosure
Peran Women on Board Sebagai Pemoderasi Pengaruh Ukuran Perusahaan, Umur Perusahaan, dan Kepemilikan Institusional Terhadap ESG Disclosure
DOI:
https://doi.org/10.21070/ups.10581Keywords:
Company Size, Environmental, Social, Governance (ESG) Disclosure, Institusional Ownership, Index Lq45, Women On BoardsAbstract
This study examines the effects of firm size, firm age, and institutional ownership on ESG disclosure among LQ45 companies listed on the Indonesia Stock Exchange from 2020 to 2024, with the presence of women on the board serving as a moderating variable. Using panel data from 99 observations and analyzed with SmartPLS, the results indicate that firm age has a significant positive effect on ESG disclosure. Company size and institutional ownership do not have a significant effect. However, women on the board successfully strengthen the relationship between company size and institutional ownership and ESG disclosure, but do not strengthen the relationship between company age and ESG disclosure. These findings underscore the importance of gender diversity on the board of directors in improving the quality of ESG disclosure among Indonesian blue-chip companies amid the OJK’s sustainable finance regulations.
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