期刊
HELIYON
卷 7, 期 3, 页码 -出版社
ELSEVIER SCI LTD
DOI: 10.1016/j.heliyon.2021.e06453
关键词
Good corporate governance; Corporate sustainability performance; Triple bottom line; Agency theory; Sustainability theory; Upper echelon theory
The study investigates the impact of corporate governance on corporate sustainability performance using the Triple Bottom Line approach in a two-tier system. The results show that the size and education background of the board of commissioners and top management team have varying effects on economic, social, and environmental sustainability performance.
This study aims to investigate the effect of good corporate governance (GCG) on corporate sustainability performance (CSP) using the Triple Bottom Line (TBL) approach in a two-tier GCG system. GCG is measured by the size and education background of board of commissioners (BoC) and top management team (TMT). CSP consists of economic, social, and environment sustainability performance. As many as 117 sample data were collected from the financial statements, annual reports and sustainability reports of non-financial companies listed on the Indonesia Stock Exchange (IDX) for the period of 2013-2017. Multiple regression analysis was employed to test the hypotheses studied with the following results. First, BoC education has a negative effect on economic and environmental sustainability performance and no effect on social sustainability performance. Second, BoC size has a positive effect on economic sustainability performance, a negative effect on social sustainability performance and no effect on environmental sustainability performance. Third, CEO's education has a negative effect on economic sustainability performance, and no effect on environmental and social sustainability performance. Fourth, TMT size has a negative effect on economic and environmental sustainability performance and no effect on social sustainability performance. Contributions, limitations and implications of the study are also discussed.
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