Determinants of Sustainability Disclosure: Evidence from Non-Financial Companies Listed On the Indonesia Stock Exchange 2013-2015

Sarah Nabila Yasmin, Zuraida Zuraida


This study investigates the determinants of sustainability disclosure of non-financial companies listed on the Indonesia Stock Exchange (IDX) for the periof 2013-2015. Sustainability disclosure is measured using sustainability factors disclosed in the companies’ stand-alone sustainability reports. Three financial performance measures which consist of profitability, liquidity, and leverage are hypothesized to determine the disclosure of sustainability factors by sample companies with two firm characteristics, company size and industry group, are considered as control determinants. Sample of the study comprises 21 non-financial companies that consitently produced sustainability reports for the period of study, which made up 63 firm-year observations for the study. Data for the study is collected by using content analysis.  Sustainability disclosure data is gathered from the companies’ sustainability reports based on a 30-point sustainability disclosure metric developed by Hannifa & Cooke (2005) from the Global Reporting Innitiatives (GRI) guidelines. Whereas financial data is collected from the companies’ anuual reports. The data analysis techniques used are classical assumption tests followed by hypothesis testing using multiple linear regression analysis with SPSS 23.0 for windows. The study is on-going thus the results are currently not available. Based on the theories and prior studies, however, the three independent (and control) variables  are expected to be positively asociated with the disclosure of sustainability factors. 

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