Mekanisme Tata Kelola Internal dan Pengungkapan Antikorupsi Perusahaan di Indonesia
Keywords:
Anticorruption Disclosure, Internal Governance Mechanisms
Abstract
This study aims to empirically examine the relationship between internal governance mechanisms and corporate anti-corruption disclosure in Indonesia. Internal governance mechanisms tested are independence of board, audit committee, ownership concentration, and family ownership. This research is a cross sectional study with a quantitative approach, the data used is secondary data. The sample of the study is 100 non-financial companies in Indonesia which are listed on Indonesia Stock Exchange with the largest market capitalization in 2019. This study finds that the internal governance mechanism on the part of audit committee has a positive influence on corporate anti-corruption disclosure. This shows that the role of audit committee has a major influence increasing transparency in preventing corrupt practices in the company environment.
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References
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Ashforth, Blake E., Dennis A. Gioia, Sandra L. Robinson, dan Linda K. Trevino. 2008. “Introducing to Special Topic Forum: Re-viewing Organizational Corruption.” Academy of Management Review 33 (3): 670-684.
Blanc, Renata, Muhammad Azizul Islam, Dennis M. Patten, dan Manuel Castelo Branco. 2017. “Corporate Anti-corruption Disclosure: An Examination of the Impact of Media Exposure and Country-level Press Freedom.” Accounting, Auditing, and Accountability Journal 30 (8): 1746-1770.
Brown, Philip, Wendy Beekes, dan Peter Verhoeven. 2010. “Corporate Governance, Accounting and Finance: A Review.” Accounting and Finance 51 (1): 96-172.
Bushee, Brian J. 2004. “Discussion of Disclosure Practices of Foreign Companies Interacting with U. S. Market.” Journal of Accounting Research 42 (2): 509-525.
Cabeza-Garcia, Laura, Maria Sacristan-Navarro, dan Silvia Gomez-Anson. 2017. “Family Involvement and Corporate Social Responsibility Disclosure.” Journal of Family Business Strategy 8: 109-122.
Chau, Gerald, dan Sidney J. Gray. 2010. “Family Ownership, Board Independence and Voluntary Disclosure: Evidence from Hong Kong.” Journal of International Accounting, Auditing and Taxation 19 (2): 93-109.
Chou, Hsin-I, Philip A. Hamill, dan Yin-Hua Yeh. 2018. “Are All Regulatory Compliant Independent Director Appointments the Same? An Analysis of Taiwanese Board Appointments.” Journal of Corporate Finance 50: 371-387.
Dong, Minyue, dan Alfred Stettler. 2011. “Estimating Firm-level and Country-level Effect in Cross-sectional Analyses: An Application on Hierarchical Modeling in Corporate Disclosure Studies.” The International Journal of Accounting 46 (3): 271-303.
Droberz, Wolfgang, Andreas Schillhofer, dan Heinz Zimmermann. 2004. “Corporate Governance and Expected Stock Return: Evidence from Germany.” European Financial Management 10 (2): 267-293.
Garcia-Meca, Emma, dan Juan P. Sanchez-Ballesta. 2010. “The Association of Board Independence and Ownership Concentration with Voluntary Disclosure: A Meta-analysis.” European Accounting Review 19 (3): 603-627.
Gillan, Stuart L. 2006. “Recent Developments in Corporate Governance: An Overview.” Journal of Corporate Finance 12 (3): 381-402.
Hackston, David, dan Markus J. Milne. 1996. “Some Determinants of Social and Environmental Disclosure in New Zealand Companies.” Accounting, Auditing, and Accountability Journal 9 (1): 77-108.
Haniffa, R. M., dan T. E. Cooke. 2002. “Culture, Corporate Governance, and Disclosure in Malaysian Corporations.” ABACUS 38 (3): 317-349.
Healy, Paul M., dan George Serafeim. 2016. “An Analysis of Firms' Self-reported Anticorruption Efforts.” The Accounting Review 91 (2): 489-511.
Hess, David. 2009. “Catalyzing Corporate Commitment to Combating Corruption.” Journal of Business Ethics 88 (4): 781-790.
Hidalgo, Ruth L., Emma Garcia-Meca, dan Isabel Martinez. 2011. “Corporate Governance and Intellectual Capital Disclosure.” Journal of Business Ethics 100 (3): 483-495.
Holderness, Clifford G. 2017. “Culture and the Ownership Concentration of Public Corporations Around the World.” Journal of Corporate Finance 44: 469-486.
Jaggi, Bikki, Sidney Leung, dan Ferdinand Gul. 2009. “Family Control, Board Independence, and Earning Management: Evidence Based on Hong Kong.” Journal of Accounting and Public Policy 28 (4): 281-300.
Jankensgard, Hakan. 2018. “Between a Rock and a Hard Place: New Evidence on the Relationship Between Ownership and Voluntary Disclosure.” International Review of Financial Analysis 56: 281-291.
Joseph, Corina, Juniati Gunawan, Yussri Sawani, Mariam Rahmat, Josephine Avelind Noyem, dan Faizah Darus. 2016. “A Comparative Study of Anti-corruption Practice Disclosure Among Malaysian and Indonesian Corporate Social Responsibility (CSR) Best Practice Companies.” Journal of Cleaner Production 112 (4): 2896-2906.
Karamanou, Irene, dan Nikos Vafeas. 2005. “The Association between Corporate Boards, Audit Committees, and Management Earnings Forecast: An Empirical Analysis.” Journal of Accounting Research 43 (3): 453-486.
Khrishnamurti, Chandrasekhar, Syed Shams, dan Eswaran Velayutham. 2018. “Corporate Social Responsibility and Corruption Risk: A Global Perspective.” Journal of Contemporary Accounting and Economics 14 (1): 1-21.
Kim, Daniel S., Yun Li, dan Domenico Tarzia. 2018. “Value of Corruption in China: Evidence from Anti-corruption Investigation.” Economics Letters 164: 112-116.
Komisi Pemberantasan Korupsi. 2018. Undang - Undang Pendukung. Diakses April 27, 2018. https://www.kpk.go.id/id/tentang-kpk/undang-undang-pendukung.
La Porta, Rafael, Florencio Lopez-de-Silanes, dan Andrei Shleifer. 1999. “Corporate Ownership Around the World.” The Journal of Financial 54 (2): 471-517.
Li, Jing, Musa Mangena, dan Richard Pike. 2012. “The Effect of Audit Committee Characteristics on Intelectual Capital Disclosure.” The British Accounting Review 44 (2): 98-110.
Miller, Gregory S. 2004. “Discussion of What Determines Corporate Transparency?” Journal of Accounting Research 42 (2): 253-267.
National Committee on Governance. 2006. “Indonesia's Code of Good Corporate Governance.” Diakses Maret 20, 2018. Http://www.ecgi.org/codes/document/indonesia_cg_2006_en.pdf.
Samaha, Khaled, Hichem Khlif, dan Khaled Hussainey. 2015. “The Impact of Board and Audit Committee Characteristics on Voluntary Disclosure: A Meta-Analysis.” Journal of International Accounting, Auditing, and Taxation 24: 13-28.
Shleifer, Andrei, dan Robert W. Vishny. 1997. “A Survey of Corporate Governance.” The Journal Of Finance 52 (2): 737-783.
Srinidhi, Bin N., Shaohua He, dan Michael Firth. 2014. “The Effect of Governance on Specialist Auditor Choice and Audit Fees in U.S. Family Firms.” The Accounting Review 89 (6): 2297-2329.
Transparency International. 2019. Corruption Perception Index 2019. Diakses April 10, 2019. https://www.transparency.org/en/cpi2019.
Vanza, Samir, Peter Wells, dan Anna Wright. 2018. “Do Asset Impairments and the Associated Disclosure Resolve Uncertainty about Future Return and Reduce Information Asymmetry?” Journal of Contemporary Accounting and Economics 14 (1): 22-40.
Wolk, Harry I., James L. Dodd, dan John J. Rozycki. 2013. Accounting Theory: Conceptual Issue in a Political and Economic Environment. Eighth Edition. United States of America: SAGE.
World Bank. 2017. Combating Corruption. Diakses Februari 3, 2018. http://www.worldbank.org/en/topic/governance/brief/anti-corruption.
—. 2016. “Corporate Governance.” Diakses Maret 19, 2018. http://www.worldbank.org/en/topic/financialsector/brief/corporate-governance.
—. 2014. “The Indonesia Corporate Governance Manual.” Diakses Maret 20, 2018. http://document.worldbank.org/curated/en/551471487074479045/The-Indonesia-corporate-governance-manual.
—. 2018. What is Fraud and Corruption? Diakses Maret 11, 2018. http://www.worldbank.org/en/about/unit/integrity-vice-presidency/what-is-fraud-and-corruption.
Xie, Biao, Wallace N. Davidson, dan Peter J. DaDalt. 2003. “Earnings Management and Corporate Governance: The Role of the Board and the Audit Committee.” Journal of Corporate Finance 9: 295-316.
Zeng, Yamin, Edward Lee, dan Junsheng Zhang. 2016. “Value Relevance of Alleged Corporate Bribery Expenditures Implied by Accounting Information.” Journal of Accounting and Public Policy 35 (6): 592-608.
Zeume, Stefan. 2017. “Bribes and Firm Value.” The Review of Financial Studies 30 (5): 1457-1489.
Al-Shammari, Bader, dan Waleed Al-Sultan. 2010. “Corporate governance and voluntary disclosure in Kuwait.” International Journal of Disclosure and Governance 7 (3): 262–280.
Anderson, Ronald C., dan David M. Reeb. 2004. “Board Composition: Balancing Family Influence in S&P 500 Firms.” Administrative Science Quarterly 49 (2): 209-237.
Ashforth, Blake E., Dennis A. Gioia, Sandra L. Robinson, dan Linda K. Trevino. 2008. “Introducing to Special Topic Forum: Re-viewing Organizational Corruption.” Academy of Management Review 33 (3): 670-684.
Blanc, Renata, Muhammad Azizul Islam, Dennis M. Patten, dan Manuel Castelo Branco. 2017. “Corporate Anti-corruption Disclosure: An Examination of the Impact of Media Exposure and Country-level Press Freedom.” Accounting, Auditing, and Accountability Journal 30 (8): 1746-1770.
Brown, Philip, Wendy Beekes, dan Peter Verhoeven. 2010. “Corporate Governance, Accounting and Finance: A Review.” Accounting and Finance 51 (1): 96-172.
Bushee, Brian J. 2004. “Discussion of Disclosure Practices of Foreign Companies Interacting with U. S. Market.” Journal of Accounting Research 42 (2): 509-525.
Cabeza-Garcia, Laura, Maria Sacristan-Navarro, dan Silvia Gomez-Anson. 2017. “Family Involvement and Corporate Social Responsibility Disclosure.” Journal of Family Business Strategy 8: 109-122.
Chau, Gerald, dan Sidney J. Gray. 2010. “Family Ownership, Board Independence and Voluntary Disclosure: Evidence from Hong Kong.” Journal of International Accounting, Auditing and Taxation 19 (2): 93-109.
Chou, Hsin-I, Philip A. Hamill, dan Yin-Hua Yeh. 2018. “Are All Regulatory Compliant Independent Director Appointments the Same? An Analysis of Taiwanese Board Appointments.” Journal of Corporate Finance 50: 371-387.
Dong, Minyue, dan Alfred Stettler. 2011. “Estimating Firm-level and Country-level Effect in Cross-sectional Analyses: An Application on Hierarchical Modeling in Corporate Disclosure Studies.” The International Journal of Accounting 46 (3): 271-303.
Droberz, Wolfgang, Andreas Schillhofer, dan Heinz Zimmermann. 2004. “Corporate Governance and Expected Stock Return: Evidence from Germany.” European Financial Management 10 (2): 267-293.
Garcia-Meca, Emma, dan Juan P. Sanchez-Ballesta. 2010. “The Association of Board Independence and Ownership Concentration with Voluntary Disclosure: A Meta-analysis.” European Accounting Review 19 (3): 603-627.
Gillan, Stuart L. 2006. “Recent Developments in Corporate Governance: An Overview.” Journal of Corporate Finance 12 (3): 381-402.
Hackston, David, dan Markus J. Milne. 1996. “Some Determinants of Social and Environmental Disclosure in New Zealand Companies.” Accounting, Auditing, and Accountability Journal 9 (1): 77-108.
Haniffa, R. M., dan T. E. Cooke. 2002. “Culture, Corporate Governance, and Disclosure in Malaysian Corporations.” ABACUS 38 (3): 317-349.
Healy, Paul M., dan George Serafeim. 2016. “An Analysis of Firms' Self-reported Anticorruption Efforts.” The Accounting Review 91 (2): 489-511.
Hess, David. 2009. “Catalyzing Corporate Commitment to Combating Corruption.” Journal of Business Ethics 88 (4): 781-790.
Hidalgo, Ruth L., Emma Garcia-Meca, dan Isabel Martinez. 2011. “Corporate Governance and Intellectual Capital Disclosure.” Journal of Business Ethics 100 (3): 483-495.
Holderness, Clifford G. 2017. “Culture and the Ownership Concentration of Public Corporations Around the World.” Journal of Corporate Finance 44: 469-486.
Jaggi, Bikki, Sidney Leung, dan Ferdinand Gul. 2009. “Family Control, Board Independence, and Earning Management: Evidence Based on Hong Kong.” Journal of Accounting and Public Policy 28 (4): 281-300.
Jankensgard, Hakan. 2018. “Between a Rock and a Hard Place: New Evidence on the Relationship Between Ownership and Voluntary Disclosure.” International Review of Financial Analysis 56: 281-291.
Joseph, Corina, Juniati Gunawan, Yussri Sawani, Mariam Rahmat, Josephine Avelind Noyem, dan Faizah Darus. 2016. “A Comparative Study of Anti-corruption Practice Disclosure Among Malaysian and Indonesian Corporate Social Responsibility (CSR) Best Practice Companies.” Journal of Cleaner Production 112 (4): 2896-2906.
Karamanou, Irene, dan Nikos Vafeas. 2005. “The Association between Corporate Boards, Audit Committees, and Management Earnings Forecast: An Empirical Analysis.” Journal of Accounting Research 43 (3): 453-486.
Khrishnamurti, Chandrasekhar, Syed Shams, dan Eswaran Velayutham. 2018. “Corporate Social Responsibility and Corruption Risk: A Global Perspective.” Journal of Contemporary Accounting and Economics 14 (1): 1-21.
Kim, Daniel S., Yun Li, dan Domenico Tarzia. 2018. “Value of Corruption in China: Evidence from Anti-corruption Investigation.” Economics Letters 164: 112-116.
Komisi Pemberantasan Korupsi. 2018. Undang - Undang Pendukung. Diakses April 27, 2018. https://www.kpk.go.id/id/tentang-kpk/undang-undang-pendukung.
La Porta, Rafael, Florencio Lopez-de-Silanes, dan Andrei Shleifer. 1999. “Corporate Ownership Around the World.” The Journal of Financial 54 (2): 471-517.
Li, Jing, Musa Mangena, dan Richard Pike. 2012. “The Effect of Audit Committee Characteristics on Intelectual Capital Disclosure.” The British Accounting Review 44 (2): 98-110.
Miller, Gregory S. 2004. “Discussion of What Determines Corporate Transparency?” Journal of Accounting Research 42 (2): 253-267.
National Committee on Governance. 2006. “Indonesia's Code of Good Corporate Governance.” Diakses Maret 20, 2018. Http://www.ecgi.org/codes/document/indonesia_cg_2006_en.pdf.
Samaha, Khaled, Hichem Khlif, dan Khaled Hussainey. 2015. “The Impact of Board and Audit Committee Characteristics on Voluntary Disclosure: A Meta-Analysis.” Journal of International Accounting, Auditing, and Taxation 24: 13-28.
Shleifer, Andrei, dan Robert W. Vishny. 1997. “A Survey of Corporate Governance.” The Journal Of Finance 52 (2): 737-783.
Srinidhi, Bin N., Shaohua He, dan Michael Firth. 2014. “The Effect of Governance on Specialist Auditor Choice and Audit Fees in U.S. Family Firms.” The Accounting Review 89 (6): 2297-2329.
Transparency International. 2019. Corruption Perception Index 2019. Diakses April 10, 2019. https://www.transparency.org/en/cpi2019.
Vanza, Samir, Peter Wells, dan Anna Wright. 2018. “Do Asset Impairments and the Associated Disclosure Resolve Uncertainty about Future Return and Reduce Information Asymmetry?” Journal of Contemporary Accounting and Economics 14 (1): 22-40.
Wolk, Harry I., James L. Dodd, dan John J. Rozycki. 2013. Accounting Theory: Conceptual Issue in a Political and Economic Environment. Eighth Edition. United States of America: SAGE.
World Bank. 2017. Combating Corruption. Diakses Februari 3, 2018. http://www.worldbank.org/en/topic/governance/brief/anti-corruption.
—. 2016. “Corporate Governance.” Diakses Maret 19, 2018. http://www.worldbank.org/en/topic/financialsector/brief/corporate-governance.
—. 2014. “The Indonesia Corporate Governance Manual.” Diakses Maret 20, 2018. http://document.worldbank.org/curated/en/551471487074479045/The-Indonesia-corporate-governance-manual.
—. 2018. What is Fraud and Corruption? Diakses Maret 11, 2018. http://www.worldbank.org/en/about/unit/integrity-vice-presidency/what-is-fraud-and-corruption.
Xie, Biao, Wallace N. Davidson, dan Peter J. DaDalt. 2003. “Earnings Management and Corporate Governance: The Role of the Board and the Audit Committee.” Journal of Corporate Finance 9: 295-316.
Zeng, Yamin, Edward Lee, dan Junsheng Zhang. 2016. “Value Relevance of Alleged Corporate Bribery Expenditures Implied by Accounting Information.” Journal of Accounting and Public Policy 35 (6): 592-608.
Zeume, Stefan. 2017. “Bribes and Firm Value.” The Review of Financial Studies 30 (5): 1457-1489.
Published
2022-07-28
How to Cite
Putri, D., & Yustisi, Y. (2022). Mekanisme Tata Kelola Internal dan Pengungkapan Antikorupsi Perusahaan di Indonesia. EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi Dan Bisnis, 10(2), 1245–1254. https://doi.org/10.37676/ekombis.v10i2.2683
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