Indonesian Journal of Sustainability Accounting and Management
Indonesian Journal of Sustainability Accounting and Management (IJSAM) is a peer-reviewed journal publishing high-quality, original research and published biannually (June and December) by Universitas Pasundan, Indonesia. IJSAM emphasizes the linkages between these environmental issues and social and economic issues in corporations, governments, education institutions, regions, and societies. Its aim is to publish scholarly accounting, economics, energy, entrepreneurship, environmental, management, and social sustainability of human beings research that are relevant to Indonesian studies and in global perspectives, especially those providing practical implications to promote better business decision-making and public policy formulation. Through our published articles, we aim at helping societies become more sustainable.
Articles
215 Documents
<![CDATA[Determinant Factors of Corporate Social Responsibility Disclosures in Hospitality and Tourism Companies in Indonesia and Thailand ]]>
<![CDATA[Saarce Elsye Hatane]]>;
<![CDATA[Jennifer Eugene Chandra]]>;
<![CDATA[I Gusti Ayu Purnamawati]]>;
<![CDATA[Hatane Semuel]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 7 No. 1 (2023): June 2023 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v7i1.570
<![CDATA[Corporate Social Responsibility (CSR) is increasingly recognized as one aspect of sustainable business development. Within the tourism industry, CSR plays an important aspect in integrating social and environmental concerns in strategies, policies, and business operations in interactions with the community and the company’s stakeholders. This study aims to assess and examine the critical factors that influence the formation of Corporate Social Responsibility Disclosure (CSRD) in hospitality and tourism sector companies. The motivation for this research stems from previous studies that showed contradictory results regarding the factors that influence CSRD. Furthermore, research on the factors that influence CSRD in Indonesia and Thailand’s hospitality and tourism industries is rarely done. This study uses company data from 2015 to 2019 with the Generalized Least Square and Weighted Least Square methods in data analysis. This study examines the effect of Profitability, Leverage, Firm Value, Liquidity, and Firm Size on CSRD. In addition, this study contributes to research on the influence of Firm Value on CSRD, which is still rarely done. This study shows that Leverage and Firm Size have a significant positive effect on CSRD, while Firm Value has a significant negative impact on CSRD.]]>
<![CDATA[Role of Country Governance for Improved Environmental Performance ]]>
<![CDATA[Tze San Ong]]>;
<![CDATA[Wei Ni Soh]]>;
<![CDATA[Chee Leong Tan]]>;
<![CDATA[Boon Heng Teh]]>;
<![CDATA[Tze Chin Ong]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 6 No. 2 (2022): December 2022 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v6i2.574
<![CDATA[Environmental issues are gaining significant attention at the organizational and country levels because of the growing pollution and greenhouse gas emissions. This study aimed to examine the relationship between country governance (CG) and environmental protection (EP) at the country level. In addition, the study further examined the outcome of EP in developing and developed countries. Neoliberal environmental governance theory was used as an underpinning theory. The data for CG were obtained from the Worldwide Governance Indicators and Environmental Performance Index for the period between 2006 and 2016. Two control variables, namely, Primary School Enrollment and Country Population, were also considered. The panel regression model was used for data analysis. The findings revealed that CG had a significant relationship with EP. Considering that governments have the power to foster governance practices, companies are prompted to enhance their governance performance, invariably leading to greater engagement in sustainability by improving their regulatory environment and enforcement mechanisms. The findings of the study will assist policymakers and decision-makers in setting priorities for the government to achieve sustainable development goals.]]>
<![CDATA[Environmental Reporting Practices in an Emerging Economy ]]>
<![CDATA[S. M. Faridul Islam]]>;
<![CDATA[Syed Zabid Hossain]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 6 No. 2 (2022): December 2022 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v6i2.577
<![CDATA[The study aimed to recognize the environmental awareness of corporate entities by exploring the extent of their associated information reporting practices. The study also strived to learn the notable board characteristics that transform the environmental reporting practices of the listed companies in an emerging market economy. This quantitative study was based on annual reports of randomly selected 100 manufacturing companies listed on the Dhaka Stock Exchange. The research used a self-developed disclosure index linked to the environment to collect data for the study. The study revealed that the extent of average environmental reporting practices by the sampled companies was too low, which was only 14.48% of the disclosure index developed for this study. Moreover, 4% of the selected companies did not disclose any environmental information in their annual report for the fiscal year 2018–2019. The most disclosed theme was the concern for the general environment, whereas the lowest was the environmental performance, which was between 25.83% and 6.2%. The study documented that no other board characteristics were highly significant and could positively explain the extent of corporate environmental reporting practices in Bangladesh, only the willingness to disclose by the board.]]>
<![CDATA[Market Giants vs. Dwarfs: New Zealand’s Perspective on Environmental Reporting ]]>
<![CDATA[Saman Bandara]]>;
<![CDATA[Ahesha Perera]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 6 No. 1 (2022): June 2022 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v6i1.578
<![CDATA[This paper examines New Zealand listed firms’ compliance with Global Reporting Initiative-environmental reporting standards (GRI 300) and the impact of environmental reporting determinants on the level of sustainability reporting. The author collected data from annual and sustainability reports of the top and bottom 30 firms listed on the New Zealand Stock Exchange (NZX). The author then conducted content analysis to measure the extent of each firm’s environmental reporting score. The study findings indicate that large firms report only one-thirds of the relevant information, whereas small firms neither adopt international reporting frameworks nor report on the environment. Additionally, we found that firm size and profitability are positively associated with the extent of environmental reporting in New Zealand, whereas industry-specific differences play a minor role. This study further finds that firms, which explicitly referred to the “Global Reporting Initiatives” or “GRI” terms in their annual or sustainability reports, outperformed in environmental reporting compared with those that did not. This study uses GRI 300 standards to assess the level of environmental reporting of each firm. Finally, the study compares environmental reporting practices between top and bottom-listed firms in New Zealand. The findings emphasize the desirability of making the environment reporting mandatory in all companies to ensure the New Zealand Government’s latest enforcement of climate risk reporting.]]>
<![CDATA[Is the Markowitz Model Still Effective in Forming an Optimal Stock Portfolio? Empirical Evidence from the IDX ESG Leaders Index ]]>
<![CDATA[Erik Syawal Alghifari]]>;
<![CDATA[Ardi Gunardi]]>;
<![CDATA[Nugraha Nugraha]]>;
<![CDATA[Ika Waspada]]>;
<![CDATA[Maya Sari]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 7 No. 1 (2023): June 2023 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v7i1.585
<![CDATA[The current portfolio calculation was basically developed by Markowitz (1952) who gave rise to the Modern Portfolio Theory. However, along with the development of science, other models emerged in portfolio calculation. This study tried to provide a flashback to whether the Markowitz portfolio model is still effective in forming an optimal portfolio compared to other portfolio calculation models. This study used descriptive research with a quantitative approach. This study used secondary data in the form of daily stock prices of companies, including the IDX ESG Leaders Index on the Indonesia Stock Exchange for the period of December 2020 to March 2022. The results showed that 11 stocks out of 25 stock samples were included in the optimal portfolio in both the Markowitz model and the Single Index Model but with different stock compositions. In terms of portfolio performance, the Markowitz model is still superior to the Single Index Model. This can be seen from the calculation results of the three indexes used, including the Sharpe Index, Treynor Index, and Jensen Index. This study provided an important contribution that the Markowitz model portfolio formation can be used and has proven to perform well in the formation of a stock portfolio.]]>
<![CDATA[Sustainability-Driven Enterprise: A Literature Review on Organizational Capabilities ]]>
<![CDATA[Viek Prayoga Pratama]]>;
<![CDATA[Aurik Gustomo]]>;
<![CDATA[Achmad Ghazali]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 6 No. 1 (2022): June 2022 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v6i1.587
<![CDATA[A sustainability-driven enterprise (SDE) is an organization that applies business principles to solve social and environmental problems. These organizations should be capable of managing the Triple Bottom Line tension within their organization. Furthermore, they should have a transformative impact on future generations and the development of global socioecological systems. The quest for an SDE and its organizational capability can be traced to the late 1980s. Since then, scholars and practitioners have published several hundred empirical studies and many reviews on this issue. However, the most extensive previous study analyzes only separate study domains, thereby making findings difficult to compare and generalize. Thus, knowledge of SDE organizational capabilities remains fragmented. This study extracts all available primary and secondary data from previous academic studies registered in the SCOPUS databases to overcome this shortcoming. Thus, the study combines the findings of more than 100 individual studies from 2015 to 2021. Hence, this study is the most exhaustive overview of academic research on this topic from the Sustainable Development Goals declared in 2015. The results show that at least five organizational capabilities are required to build an SDE. This study will offer promising fundamentals for building SDE practices and creating further research. Suggestions for further research development are also provided.]]>
<![CDATA[Integrated Framework for Measuring the Impact of Corporate Sustainability Performance on Financial Performance via Customer Attraction ]]>
<![CDATA[Emmanuel Obinali Obioha]]>;
<![CDATA[Heinz Eckart Klingelhöfer]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 7 No. 1 (2023): June 2023 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v7i1.594
<![CDATA[The study aims to develop an integrated framework for measuring the impact of corporate sustainability performance on financial performance via customer attraction. The study explores and communicates by literature the linkages and factors affecting corporate sustainability performance (i.e. socio-economic and environmental activities): how do proper socio-economic and environmental management translate to corporate socio-economic and environmental performances; how can factors of socio-economic performance (e.g. socio-economic development and human rights) and environmental performance (e.g. environmental process and product focus) translate via customer attraction to different measures of profit. The results prove that socio-economic development, human rights, environmental process, and product focus translate to corporate socio-economic environmental performance, and then – via customer attraction – positively influence financial performance. The study assists management to know how to achieve competitive advantage and increase their triple bottom lines by attracting and retaining customers, thus, how it ultimately influences environmental, social, and economic success. The value of the study is that it delivers an integrated framework for measuring the impact of corporate sustainability performance on financial performance via customer attraction.]]>
<![CDATA[Board Gender Diversity and Firm Performance: Evidence from Family-Owned Firms in India ]]>
<![CDATA[Rupjyoti Saha]]>;
<![CDATA[Santi Gopal Maji]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 6 No. 2 (2022): December 2022 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v6i2.595
<![CDATA[This study investigates the impact of board gender diversity (BGD) on firm performance (FP) for family-owned Indian firms. To do so, this study selects a sample of the 75 top-listed family-owned firms for a period of 5 years. For empirical analysis, the study used appropriate panel data models. For robustness, the three-stage least square (3SLS) model was used. The findings obtained from panel data models reveal a significant positive impact of BGD in terms of its different measures on FP after controlling corporate governance and firm-specific characteristics. Such results are further substantiated through the 3SLS model. This study provides novel evidence on the impact of BGD in terms of its diverse constructive measures on FP for family-owned firms in the Indian context, thereby extending the ongoing debate about the outcomes of the mandatory gender quota on board for an emerging market.]]>
<![CDATA[Comparing Transformation Disclosure Trends of Publicly Funded Universities in South Africa ]]>
<![CDATA[Sameera Abed]]>;
<![CDATA[Barry Ackers]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 6 No. 2 (2022): December 2022 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v6i2.599
<![CDATA[More than 25 years into democracy, South Africa’s higher educational landscape remains challenged by the slow pace of transformation and the residual inequality of apartheid. We utilize a mixed-methods research approach to analyze, interpret, and compare transformation-related disclosures among publicly funded universities, with reference to their historical apartheid-era categorization. We particularly explore the mechanisms introduced to improve academic access and success of students from previously disadvantaged groups. Moreover, we identify the challenges that have contributed to the slow pace of transformation. ATLAS.ti was used to analyze and interpret the transformation-related disclosures in publicly available annual reports of the universities included in this study. We find that historically advantaged universities tend to disclose more support mechanisms, but historically disadvantaged ones face greater infrastructural challenges. We offer a unique perspective on the transformation support mechanisms and challenges experienced by public universities in South Africa based on their historical classification.]]>
<![CDATA[Auditors’ Perspective of Audit Quality during the COVID-19 Pandemic: Evidence from the United Arab Emirates ]]>
<![CDATA[Rihab Grassa]]>;
<![CDATA[Ibrahim Obaidallah]]>;
<![CDATA[Mouna Hamza]]>
<![CDATA[ Indonesian Journal of Sustainability Accounting and Management Vol. 6 No. 2 (2022): December 2022 ]]>
Publisher : <![CDATA[Universitas Pasundan ]]>
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DOI: 10.28992/ijsam.v6i2.623
<![CDATA[During the coronavirus disease 2019 (COVID-19) pandemic, external auditors have faced unforeseen logistical challenges as they had to audit financial statements remotely. Definitively, the new circumstances had various impacts on audit quality. This study explores the effect of social distancing owing to the COVID-19 outbreak on the quality of financial audits in the United Arab Emirates. To this end, we conducted 11 semi-structured interviews with audit partners and directors from BIG 4 audit firms. The findings from the content analysis of these interviews show that during the pandemic, external auditors faced different challenges in maintaining the quality of financial audits. Indeed, the lockdown imposed by the pandemic has largely affected materiality and risk assessments, audit procedures and collection of evidence, and auditors’ performance and efficiency efforts. It also increased cyber risk. These conclusions stress the importance of investing in blockchain and artificial intelligence to resolve similar challenges in the future. Blockchain technology would, in fact, be an ultimate solution in similar circumstances as it permits enhancing the efficiency and adaptability of communication between auditors and auditee firms, which can in turn promote the quality of the financial reporting and audit.]]>
