The Relationship between Female Directors and Foreign Directors on Sustainable Development Goals (SDGs) Disclosure: A Case Study in Indonesia
Hubungan antara Pengarah Wanita dan Pengarah Asing terhadap Pendedahan Matlamat Pembangunan Mampan (SDG): Kajian Kes di Indonesia
DOI:
https://doi.org/10.37134/mrj.vol14.2.5.2025Keywords:
SDG Disclosure, Female Directors, Foreign DirectorsAbstract
This study investigates the impact of board gender and nationality diversity on Sustainable Development Goals (SDG) disclosure among Indonesian listed companies. It also explores the interaction effect between female and foreign directors on SDG disclosure. Employing a fixed-effects panel regression approach, this study investigates 270 publicly listed firms on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. The results reveal that the presence of female directors has a positive influence on SDG disclosure, indicating that gender diversity enhances the board’s commitment to sustainability and transparency. Conversely, the presence of foreign directors negatively affects SDG disclosure, suggesting that differences in cultural or institutional contexts may reduce disclosure levels. However, the interaction between female and foreign directors significantly strengthens SDG disclosure, implying that the combination of gender diversity and international experience fosters more comprehensive sustainability reporting.
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