BOARD CHARACTERISTICS DAN ESG PERFORMANCE PERUSAHAAN AMERIKA SERIKAT PANDEMI COVID-19
Board Characteristics and ESG Performance of US Corporations during Covid-19 Pandemic
Downloads
Penelitian ini menguji hubungan antara board characteristics, yang terdiri dari board ownership, board age, dan women on board, terhadap ESG Performance perusahaan Amerika Serikat yang terdaftar di Bursa Efek New York selama pandemi Covid-19 dari tahun 2020 hingga 2022. Grand theory yang digunakan sebagai landasan dalam melakukan penelitian ini adalah stakeholder theory, yang melihat kemampuan manajemen dalam bertanggung jawab bagi pemangku kepentingan lewat ESG performance. Penelitian ini menggunakan pendekatan kuantitatif yang menggunakan regresi berganda ordinary least squares untuk menguji pengaruh antara variabel dependen dan independen dengan variabel kontrol, yakni firm size, current ratio, dan debt-to-asset ratio. Hasil penelitian menunjukkan bahwa board ownership memiliki pengaruh negatif signifikan terhadap ESG performance, board age tidak memiliki pengaruh terhadap ESG performance, dan women on board memiliki pengaruh negatif signifikan terhadap ESG performance. Board characteristics pada perusahaan memiliki dampak terhadap program kerja dan kinerja ESG, sehingga perusahaan harus memberikan perhatian dan fokus yang lebih agar board mampu menjalankan tanggung jawabnya untuk peduli kepada faktor-faktor ESG selain faktor-faktor keuangan.
Alhazaimeh, A., Palaniappan, R., & Almsafir, M. (2014). The impact of corporate governance and ownership structure on voluntary disclosure in annual reports among listed Jordanian companies. Procedia-Social and Behavioral Sciences, 341-348.
American Express. (2020). American Express announces $1 billion action plan to promote racial, ethnic, and gender equity for colleagues, customers, and communities. New York: American Express.
Amosh, H. A., & Khatib, S. F. (2023). ESG performance in the time of COVID 19 pandemic: cross country. Environmental Science and Pollution Research, 39978-39993.
Bertrand, M., Black, S., Jensen, S., & Llearas-Muney, A. (2018). Breaking the glass ceiling? The effect of board quotas on female labor market outcomes in Norway. The Review of Economic Studies, 86(1), 191-239.
Bianco, M., Ciavarella, A., & Signoretti, R. (2015). Women on Corporate Boards in Italy: The Role of Family Connections. Corporate Governance: An International Review 23, 129-144.
Brodeur, A., Clark, A. E., Fleche, S., & Nattavudh, P. (2021). COVID-19, lockdowns and well-being: Evidence from Google Trends. Journal of Public Economics, 1-8.
Buse, K., Bernstein, R., & Bilimoria, D. (2016). The Influence of Board Diversity, Board Diversity Policies and Practices, and Board Inclusion Behaviors on Nonprofit Governance Practices. Journal of Business Ethics, 179-191.
Creswell, J., & Creswell, J. (2017). Research design: Qualitative, quantitative, and mixed method approaches. London: Sage publications.
Donnelly, R., & Mulcahy, M. (2008). Board structure, ownership, and voluntary disclosure in Ireland. Corporate Governance: An International Review 14(1), 416-429.
Eng, L., & Mak, Y. (2003). Corporate governance and voluntary disclosure . Journal of Accounting and Public Policy, 325-345.
Farag, H., & Mallin, C. (2016). The Impact of the Dual Board Structure and Board Diversity: Evidence from Chinese Initial Public Offerings (IPOs). Journal of Business Ethics 139, 333-349.
Farooq, U., Ahmed, J., & Khan, S. (2019). National culture and firm financial performance: A mediating role of firm financing decision. Cogent Business and Management, 1-18.
Foo, Y., & Zain, M. (2010). Board independence, board diligence, and liquidity in Malaysia: A research note. Journal of Contemporary Accounting and Economics, 92-100.
Galia, F., Lentz, F., Max, S., Sutan, A., & Zenou, E. (2017). The impact of common knowledge on gender diversity - an experimental investigation. Managerial and Decision Economics, 806-821.
Garcia, M., & Herrero, B. (2018). Board of directors: composition and effects on the performance of the firm. Economic Research-Ekonomska Istrazivanja, 31(1), 1015-1041.
Ghozali. (2016). Aplikasi analisis multivariate dengan program IBM SPSS 23.
Harvard Business Publishing. (2023, November 3). Research: The ESG Issues That Matter Most to People. Retrieved from Harvard Business Review: https://hbr.org/2023/07/research-the-esg-issues-that-matter-most-to-people
Jacoby, G., & Zheng, S. (2010). Ownership dispersion and market liquidity. International Review of Financial Analysis, 81-88.
Mardini , G., & Lahyani, F. (2020). Impact of Firm Performance and Corporate Governance Mechanisms on Intellectual Capital Disclosures in CEO Statements. Journal of Intellectual Capital 23, 290-312.
Martin-Ugedo, J., Minguez-Vera, A., & Rossi, F. (2019). Female directors and firm performance in Italian and Spanish listed firms. Academia Revista Lationamericana de Administracion 32(3), 411-436.
Maxfield, S., Shapiro, M., Gupta, V., & Hass, S. (2010). Gender and risk: Women, risk taking and risk aversion. Gender in Management: An International Journal, 586-604.
Moalla, M., & Dammak, S. (2023). Corporate ESG performance as good insurance in times of crisis: Lessons from US stock market during COVID-19 pandemic. Journal of Global Responsibility, 14(4), 381-402.
Mohd Ghazali. (2007). Ownership structure and corporate social responsibility disclosure: Some Malaysian evidence. Corporate Governance: The International Journal of Business in Society, 252-266.
Morgan Stanley. (2021). Morgan Stanley Sustainability Reality Report revelas U.S sustainability funds outperformed traditional funds by 4.3 percentage points in 2020. New York: Morgan Stanley.
Olaoye, F., & Adewumi, A. (2020). Corporate governance and the earnings quality of Nigerian firms. International Journal of Financial Research, 161–171.
Patagonia 50. (2017). How we extend the functionality of your gear and repair it. Patagonia: Patagonia 50.
Psaros , J., & Seamer, M. (2015). Ranking Corporate Governance of Australia's Top Companies: A Decade On. Australian Accounting Review, 405-412.
Raimo, N., Vitolla, F., Marrone, A., & Rubino, M. (2020). The role of ownership structure in integrated reporting policies. Business Strategy Environment 29, 2238-2250.
Salloum, C., Azzi, G., Mercier-Suissa, C., & Khalil, S. (2016). The rise of women and their impact on firm's performance. International Journal of Entrepreneurship and Small Business, 27, 213-246.
Saona, P., & Azad, A. (2022). Board gender diversity and firm performance: new evidence from cultural diversity in the boardroom. Journal of Management and Research, 1-12.
Tahir, H., Masri, R., & Rahman, M. (2020). Impact of board attributes on the firm dividend payout policy: evidence from Malaysia. Corporate Governance: The International Journal of Business in Society, 20(5), 919-937.
The Jakarta Post. (2023, November 3). Indonesia's first COVID-19 patient danced with infected Japanese woman before contracting virus. Retrieved from The Jakarta Post: https://www.thejakartapost.com/news/2020/03/02/indonesias-first-covid-19-patient-danced-with-infected-japanese-woman-before-contracting-virus.html
Torchia, M., Calabro, A., & Morner, M. (2015). Board of Directors' Diversity, Creativity, and Cognitive Conflict: The Role of Board Members' Interaction. International Studies of Management & Organization 45, 6-24.
Wu, Z., Gao, J., Luo , C., Xu, H., & Shi , G. (2023). How does boardroom diversity influence the relationship between ESG and firm financial performance? International Review of Economics and Finance, 713-730.
Copyright (c) 2024 Immanuel Richard Herlambang
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Authors who publish with Berkala Akuntansi dan Keuangan Indonesia agree to the following terms:
The journal allows the author to hold the copyright of the article without restrictions.
The journal allows the author(s) to retain publishing rights without restrictions
The legal formal aspect of journal publication accessibility refers to Creative Commons Attribution (CC BY NC SA)
BAKI (Berkala Akuntansi dan Keuangan Indonesia) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
