Gender of Board Director and Corporate Social Responsibility Disclosure: Study on Indonesian Banking Industry.
Gender of Board Director and Corporate Social Responsibility
Disclosure: Study on Indonesian Banking Industry
Undergraduate Thesis
Submitted as Partial Fulfillment of the Requirement for the Bachelor Degree from
the Department of Accounting, Faculty of Economics and Business
Universitas Sebelas Maret Surakarta
By:
DEO JULION SAPUTRO
F0312040
Department of Accounting
Faculty of Economics and Business
Universitas Sebelas Maret
Surakarta
2016
ABSTRACT
Gender of Board Director and Corporate Social Responsibility Disclosure:
Study on Indonesian Banking Industry
By:
DEO JULION SAPUTRO
F0312040
This research investigates the effect of corporate governance mechanism
in the form of women on board on corporate social responsibility disclosure. CSR
disclosure is measured by using index which designed especially for banking
industry. This research uses the sample of all banks in Indonesia, either listed or
not listed on Indonesian Stock Exchange, over the period of 2009 until 2015. The
study finds that women on board is significantly positive related with CSR
disclosure.
Keywords: Women on Board, Female Director, CSR Disclosure
ii
ABSTRAK
Gender Dewan Direksi dan Corporate Social Responsibility Disclosure:
Studi pada Industri Perbankan di Indonesia
Oleh:
DEO JULION SAPUTRO
F0312040
Penelitian ini bertujuan untuk menguji pengaruh mekanisme corporate
governance yang diwakili dengan proporsi direktur wanita terhadap corporate
social responsibility disclosure. CSR disclosure diukur menggunakan indeks yang
secara khusus disusun untuk industri perbankan. Penelitian ini menggunakan
sampel seluruh bank yang ada di Indonesia, baik yang terdaftar maupun tidak
terdaftar pada bursa efek Indonesia, dalam kurun waktu tahun 2009 sampai
dengan 2015. Penelitian ini menemukan bahwa proporsi direktur wanita
berpengaruh positif terhadap CSR disclosure.
Kata kunci: Anggota Dewan Wanita, Direktur Wanita, CSR Disclosure
iii
HALAMAN PERSETUJUAN PEMBIMBING
Skripsi dengan judul:
Gender of Board Director and Corporate Social Responsibility Disclosure:
Study on Indonesian Banking Industry
Disusun oleh:
DEO JULION SAPUTRO
NIM. F0312040
Telah Disetujui Pembimbing
Pada Tanggal:
Pembimbing
Drs. Muhammad Agung Prabowo M.Si., Ph.D., Ak
NIP. 196605011994121001
Mengetahui,
Ketua Program Studi Akuntansi
Drs. Santoso Tri Hananto., M. Si., Ak
NIP. 196909241994021001
iv
HALAMAN PENGESAHAN
Gender of Board Director and Corporate Social Responsibility Disclosure:
Study on Indonesian Banking Industry
Disusun oleh
DEO JULION SAPUTRO
NIM. F0312040
Telah disetujui dan disahkan oleh Tim Penguji
Pada Tanggal:
Ketua
: Doddy Setiawan SE., M.Si., IMRI, Ph.D., Ak
(
)
Sekretaris : Dra. Y Anni Aryani, M.Prof.Acc, Ph.D., Ak
(
)
Anggota
(
)
: Drs. Muhammad Agung Prabowo., M.Si., Ph.D., Ak
Mengetahui,
Ketua Program Studi Akuntansi
Drs. Santoso Tri Hananto, M.Si., Ak
NIP. 19690924 199402 1 001
v
SURAT PERNYATAAN
Yang bertanda tangan dibawah ini mahasiswa Fakultas Ekonomi dan Bisnis
Universitas Sebelas Maret:
Nama
NIM.
Program Studi
Judul Skripsi
:
:
:
:
Deo Julion Saputro
F0312040
Akuntansi
Gender of Board Director and Corporate Social
Responsibility Disclosure: Study on Indonesian Banking
Industry
Menyatakan dengan sebenarnya, bahwa skripsi yang saya buat ini adalah benarbenar
merupakan
hasil
karya
sendiri
dan
bukan
merupakan
hasil
jiplakan/salinan/saduran dari karya orang lain. Skripsi ini merupakan bagian dari
penelitian dibawah bimbingan Bapak Drs. Muhammad Agung Prabowo M.Si.,
Ph.D., Ak.
Apabila ternyata dikemudian hari terbukti pernyataan ini tidak benar, maka saya
akan menerima sanksi akademik berupa penarikan ijazah dan pencabutan gelar
sarjananya.
Demikian pernyataan ini saya buat dengan sebenar-benarnya.
Surakarta,
Mahasiswa
Oktober 2016
M
e
Deo Julion Saputro
NIM. F0312040
vi
QUOTES
“Ask and it will be given to you, search and you will find it, knock and the door
will be opened for you.”
(Jesus)
“Do right. Do your best. Treat others as you want to be treated.”
(Lou Holtz)
“Don’t live with any regrets.”
(Portgas D Ace – One Piece)
vii
ACKNOWLEDGEMENT
First of all, I would like to praise Jesus Christ my Lord for His love, grace,
and blessing, so I am able to conduct this research and complete my
undergraduate thesis.
My deep gratitude goes to my research supervisor, Drs. Muhammad
Agung Prabowo M.Si., Ph.D., Ak., for his guidance throughout this research. His
advice and support was helped me overcome the difficulties and finished this
research. Beside academic research, he also taught me his perspective about life,
encouraged me to be braver, and convinced me to dream big. It was a great honor
to work and study under his guidance.
I would like to thanks Dr. Hunik Sri Runing Sawitri, M.Si., as Dean of
Faculty of Economics and Business Universitas Sebelas Maret and Drs. Santoso
Tri Hananto, M.Si., Ak., as Head of Accounting Department Faculty of
Economics and Business Universitas Sebelas Maret. I also like to gratitude Halim
Deddy Perdana, S.E., MSM., M.Rech., Ak., who encourage and give me
opportunity to compete with students from other universities through accounting
olympic. It was nice and valuable experience.
I am really blessed having joyful family by my side, Papa Yoyok and
Mama Dewi as my parents, who always give me love, support, prayer, and
sacrifice. Also my little brother, Dion for his support and prayer. They are the
most precious treasure in my life. I would not be able to finished my study withot
them by my side.
viii
I would like to thanks my solid friends, Felik Chien Jiang, Andryan
Kinson, Bintang BM, Brian Ajaib, Adam Nav, Andre Tarjo, Juoro Kajur, Diar
Dayers, and Rendi Kasto who make my college life unforgettable. Keep solid and
see you on top guys. Fia, Oncos, Chanif, Yoga, Shiva, Zam, and Juno who’s been
my partner in accounting olympics. Also all accounting 2012 friends, especially
my classmates, Accounting A 2012. My past four years would not be the same
without them.
I also want to acknowledge the BBG squad, Barto Infinity Mouth, Yudha
Papah, Mas Ukyk, Sammy the Light, Yudi Item, Dede Grumpy, Abraham Kecu,
and Abdel Kurnia whom I know since high school. Thanks for filling my days
with sarcasm jokes, hard laughs, and pointless drama. Keep rock guys, don’t give
up, bright future is awaiting us. Finally my thanks goes to those which cannot be
mentioned one by one, who have supported me to complete this undergraduate
thesis directly or indirectly.
Surakarta, 23 October 2016
Author
DEO JULION SAPUTRO
ix
CONTENT
TITLE ............................................................................................................
i
ABSTRACT ....................................................................................................
ii
ABSTRAK ......................................................................................................
iii
HALAMAN PERSETUJUAN ......................................................................
iv
HALAMAN PENGESAHAN ........................................................................
v
STATEMENT OF ORIGINALITY .............................................................
vi
QUOTES ........................................................................................................
vii
ACKNOWLEDGEMENT .............................................................................
viii
CONTENT ......................................................................................................
x
LIST OF TABLES AND FIGURES .............................................................
xii
LIST OF APPENDICES ...............................................................................
xiii
CHAPTER 1 INTRODUCTION ..................................................................
1
1.1.
Research Background...............................................................
1
1.2.
Research Objectives ................................................................
5
1.3.
Research Benefits .....................................................................
6
CHAPTER 2 LITERATURE REVIEW AND HYPOTHESIS
DEVELOPMET……………………………………………………………..
7
2.1. Corporate Social Responsibility Disclosure ............................
7
2.2. Corporate Governance .............................................................
9
2.3. Women on Board and CSR Disclosure ....................................
10
x
CHAPTER III RESEARCH DESIGN .........................................................
14
3.1. Data ... ………………………………………………………..
14
3.2. Measures of CSR Disclosure ...................................................
14
3.3. Measures of Independent Variables .........................................
15
3.4. Model Specification .................................................................
16
CHAPTER IV RESULTS ………………………………………………….
17
4.1. Sample Selection ......................................................................
17
4.2. Descriptive Statistics ................................................................
17
4.3. Correlation Analysis.................................................................
19
4.4. Baseline Result ………………………………………………
21
4.5. Robustness Check ....................................................................
24
CHAPTER V SUMMARY AND CONCLUSION.......................................
32
5.1. Conclusion ……………………………………………….......
32
5.2. Limitations of The Research ....................................................
32
5.3. Suggestion for Future Reseach.................................................
33
REFERENCE ………………………. ...........................................................
34
APPENDIX
xi
LIST OF TABLES AND FIGURES
TABLE
3.1. SUMMARY OF OPERATIONALIZATION OF VARIABLES ...........
16
4.1. SAMPLE .................................................................................................
17
4.2. SUMMARY OF STATISTICS ...............................................................
18
4.3. PEARSON CORRELATION MATRIX ................................................
19
4.4. REGRESSION RESULT 1 .....................................................................
21
4.5. REGRESSION RESULT 2 .....................................................................
24
4.6. REGRESSION RESULT 3 .....................................................................
25
4.7. REGRESSION RESULT 4 .....................................................................
26
4.8. REGRESSION RESULT 5 .....................................................................
27
4.9. REGRESSION RESULT 6 .....................................................................
28
4.10. REGRESSION RESULT 7 .....................................................................
29
4.11. REGRESSION RESULT 8 .....................................................................
30
4.12. REGRESSION RESULT 9 .....................................................................
31
FIGURE
4.1. CSR DISCLOSURE LEVELS ................................................................
xii
20
LIST OF APPENDICES
Appendix A – Items of Branco Index
Appendix B – List of Banks in Indonesia
Appendix C – Regression Result
xiii
Disclosure: Study on Indonesian Banking Industry
Undergraduate Thesis
Submitted as Partial Fulfillment of the Requirement for the Bachelor Degree from
the Department of Accounting, Faculty of Economics and Business
Universitas Sebelas Maret Surakarta
By:
DEO JULION SAPUTRO
F0312040
Department of Accounting
Faculty of Economics and Business
Universitas Sebelas Maret
Surakarta
2016
ABSTRACT
Gender of Board Director and Corporate Social Responsibility Disclosure:
Study on Indonesian Banking Industry
By:
DEO JULION SAPUTRO
F0312040
This research investigates the effect of corporate governance mechanism
in the form of women on board on corporate social responsibility disclosure. CSR
disclosure is measured by using index which designed especially for banking
industry. This research uses the sample of all banks in Indonesia, either listed or
not listed on Indonesian Stock Exchange, over the period of 2009 until 2015. The
study finds that women on board is significantly positive related with CSR
disclosure.
Keywords: Women on Board, Female Director, CSR Disclosure
ii
ABSTRAK
Gender Dewan Direksi dan Corporate Social Responsibility Disclosure:
Studi pada Industri Perbankan di Indonesia
Oleh:
DEO JULION SAPUTRO
F0312040
Penelitian ini bertujuan untuk menguji pengaruh mekanisme corporate
governance yang diwakili dengan proporsi direktur wanita terhadap corporate
social responsibility disclosure. CSR disclosure diukur menggunakan indeks yang
secara khusus disusun untuk industri perbankan. Penelitian ini menggunakan
sampel seluruh bank yang ada di Indonesia, baik yang terdaftar maupun tidak
terdaftar pada bursa efek Indonesia, dalam kurun waktu tahun 2009 sampai
dengan 2015. Penelitian ini menemukan bahwa proporsi direktur wanita
berpengaruh positif terhadap CSR disclosure.
Kata kunci: Anggota Dewan Wanita, Direktur Wanita, CSR Disclosure
iii
HALAMAN PERSETUJUAN PEMBIMBING
Skripsi dengan judul:
Gender of Board Director and Corporate Social Responsibility Disclosure:
Study on Indonesian Banking Industry
Disusun oleh:
DEO JULION SAPUTRO
NIM. F0312040
Telah Disetujui Pembimbing
Pada Tanggal:
Pembimbing
Drs. Muhammad Agung Prabowo M.Si., Ph.D., Ak
NIP. 196605011994121001
Mengetahui,
Ketua Program Studi Akuntansi
Drs. Santoso Tri Hananto., M. Si., Ak
NIP. 196909241994021001
iv
HALAMAN PENGESAHAN
Gender of Board Director and Corporate Social Responsibility Disclosure:
Study on Indonesian Banking Industry
Disusun oleh
DEO JULION SAPUTRO
NIM. F0312040
Telah disetujui dan disahkan oleh Tim Penguji
Pada Tanggal:
Ketua
: Doddy Setiawan SE., M.Si., IMRI, Ph.D., Ak
(
)
Sekretaris : Dra. Y Anni Aryani, M.Prof.Acc, Ph.D., Ak
(
)
Anggota
(
)
: Drs. Muhammad Agung Prabowo., M.Si., Ph.D., Ak
Mengetahui,
Ketua Program Studi Akuntansi
Drs. Santoso Tri Hananto, M.Si., Ak
NIP. 19690924 199402 1 001
v
SURAT PERNYATAAN
Yang bertanda tangan dibawah ini mahasiswa Fakultas Ekonomi dan Bisnis
Universitas Sebelas Maret:
Nama
NIM.
Program Studi
Judul Skripsi
:
:
:
:
Deo Julion Saputro
F0312040
Akuntansi
Gender of Board Director and Corporate Social
Responsibility Disclosure: Study on Indonesian Banking
Industry
Menyatakan dengan sebenarnya, bahwa skripsi yang saya buat ini adalah benarbenar
merupakan
hasil
karya
sendiri
dan
bukan
merupakan
hasil
jiplakan/salinan/saduran dari karya orang lain. Skripsi ini merupakan bagian dari
penelitian dibawah bimbingan Bapak Drs. Muhammad Agung Prabowo M.Si.,
Ph.D., Ak.
Apabila ternyata dikemudian hari terbukti pernyataan ini tidak benar, maka saya
akan menerima sanksi akademik berupa penarikan ijazah dan pencabutan gelar
sarjananya.
Demikian pernyataan ini saya buat dengan sebenar-benarnya.
Surakarta,
Mahasiswa
Oktober 2016
M
e
Deo Julion Saputro
NIM. F0312040
vi
QUOTES
“Ask and it will be given to you, search and you will find it, knock and the door
will be opened for you.”
(Jesus)
“Do right. Do your best. Treat others as you want to be treated.”
(Lou Holtz)
“Don’t live with any regrets.”
(Portgas D Ace – One Piece)
vii
ACKNOWLEDGEMENT
First of all, I would like to praise Jesus Christ my Lord for His love, grace,
and blessing, so I am able to conduct this research and complete my
undergraduate thesis.
My deep gratitude goes to my research supervisor, Drs. Muhammad
Agung Prabowo M.Si., Ph.D., Ak., for his guidance throughout this research. His
advice and support was helped me overcome the difficulties and finished this
research. Beside academic research, he also taught me his perspective about life,
encouraged me to be braver, and convinced me to dream big. It was a great honor
to work and study under his guidance.
I would like to thanks Dr. Hunik Sri Runing Sawitri, M.Si., as Dean of
Faculty of Economics and Business Universitas Sebelas Maret and Drs. Santoso
Tri Hananto, M.Si., Ak., as Head of Accounting Department Faculty of
Economics and Business Universitas Sebelas Maret. I also like to gratitude Halim
Deddy Perdana, S.E., MSM., M.Rech., Ak., who encourage and give me
opportunity to compete with students from other universities through accounting
olympic. It was nice and valuable experience.
I am really blessed having joyful family by my side, Papa Yoyok and
Mama Dewi as my parents, who always give me love, support, prayer, and
sacrifice. Also my little brother, Dion for his support and prayer. They are the
most precious treasure in my life. I would not be able to finished my study withot
them by my side.
viii
I would like to thanks my solid friends, Felik Chien Jiang, Andryan
Kinson, Bintang BM, Brian Ajaib, Adam Nav, Andre Tarjo, Juoro Kajur, Diar
Dayers, and Rendi Kasto who make my college life unforgettable. Keep solid and
see you on top guys. Fia, Oncos, Chanif, Yoga, Shiva, Zam, and Juno who’s been
my partner in accounting olympics. Also all accounting 2012 friends, especially
my classmates, Accounting A 2012. My past four years would not be the same
without them.
I also want to acknowledge the BBG squad, Barto Infinity Mouth, Yudha
Papah, Mas Ukyk, Sammy the Light, Yudi Item, Dede Grumpy, Abraham Kecu,
and Abdel Kurnia whom I know since high school. Thanks for filling my days
with sarcasm jokes, hard laughs, and pointless drama. Keep rock guys, don’t give
up, bright future is awaiting us. Finally my thanks goes to those which cannot be
mentioned one by one, who have supported me to complete this undergraduate
thesis directly or indirectly.
Surakarta, 23 October 2016
Author
DEO JULION SAPUTRO
ix
CONTENT
TITLE ............................................................................................................
i
ABSTRACT ....................................................................................................
ii
ABSTRAK ......................................................................................................
iii
HALAMAN PERSETUJUAN ......................................................................
iv
HALAMAN PENGESAHAN ........................................................................
v
STATEMENT OF ORIGINALITY .............................................................
vi
QUOTES ........................................................................................................
vii
ACKNOWLEDGEMENT .............................................................................
viii
CONTENT ......................................................................................................
x
LIST OF TABLES AND FIGURES .............................................................
xii
LIST OF APPENDICES ...............................................................................
xiii
CHAPTER 1 INTRODUCTION ..................................................................
1
1.1.
Research Background...............................................................
1
1.2.
Research Objectives ................................................................
5
1.3.
Research Benefits .....................................................................
6
CHAPTER 2 LITERATURE REVIEW AND HYPOTHESIS
DEVELOPMET……………………………………………………………..
7
2.1. Corporate Social Responsibility Disclosure ............................
7
2.2. Corporate Governance .............................................................
9
2.3. Women on Board and CSR Disclosure ....................................
10
x
CHAPTER III RESEARCH DESIGN .........................................................
14
3.1. Data ... ………………………………………………………..
14
3.2. Measures of CSR Disclosure ...................................................
14
3.3. Measures of Independent Variables .........................................
15
3.4. Model Specification .................................................................
16
CHAPTER IV RESULTS ………………………………………………….
17
4.1. Sample Selection ......................................................................
17
4.2. Descriptive Statistics ................................................................
17
4.3. Correlation Analysis.................................................................
19
4.4. Baseline Result ………………………………………………
21
4.5. Robustness Check ....................................................................
24
CHAPTER V SUMMARY AND CONCLUSION.......................................
32
5.1. Conclusion ……………………………………………….......
32
5.2. Limitations of The Research ....................................................
32
5.3. Suggestion for Future Reseach.................................................
33
REFERENCE ………………………. ...........................................................
34
APPENDIX
xi
LIST OF TABLES AND FIGURES
TABLE
3.1. SUMMARY OF OPERATIONALIZATION OF VARIABLES ...........
16
4.1. SAMPLE .................................................................................................
17
4.2. SUMMARY OF STATISTICS ...............................................................
18
4.3. PEARSON CORRELATION MATRIX ................................................
19
4.4. REGRESSION RESULT 1 .....................................................................
21
4.5. REGRESSION RESULT 2 .....................................................................
24
4.6. REGRESSION RESULT 3 .....................................................................
25
4.7. REGRESSION RESULT 4 .....................................................................
26
4.8. REGRESSION RESULT 5 .....................................................................
27
4.9. REGRESSION RESULT 6 .....................................................................
28
4.10. REGRESSION RESULT 7 .....................................................................
29
4.11. REGRESSION RESULT 8 .....................................................................
30
4.12. REGRESSION RESULT 9 .....................................................................
31
FIGURE
4.1. CSR DISCLOSURE LEVELS ................................................................
xii
20
LIST OF APPENDICES
Appendix A – Items of Branco Index
Appendix B – List of Banks in Indonesia
Appendix C – Regression Result
xiii