Risk Disclosure in Indonesian Banking: The Role of Board of Directors and Institutional Ownership

Dhea Vania Dominique Pijoh; Bima Cinintya Pratama; Hadi Pramono; Ira Hapsari

doi:10.55927/ministal.v1i4.2181

Authors

Dhea Vania Dominique Pijoh Universitas Muhammadiyah Purwokerto
Bima Cinintya Pratama Universitas Muhammadiyah Purwokerto
Hadi Pramono Universitas Muhammadiyah Purwokerto
Ira Hapsari Universitas Muhammadiyah Purwokerto

DOI:

https://doi.org/10.55927/ministal.v1i4.2181

Keywords:

Term of Office of the Board of Directors, Gender of the Board of Directors, Institutional Ownership, Risk Disclosure

Abstract

This study aims to examine risk disclosure by considering the influence of board tenure, gender composition of female board of directors, and institutional ownership. This study used a purposive sampling method at commercial banks registered with OJK in a total of 205 samples with 41 banking companies during the 2017-2021 period. To test the research hypothesis used panel data regression model analysis. The analysis techniques used in this study were descriptive statistical tests, preliminary tests (Breusch-Pagan, likelihood tests, hausman tests), diagnostic tests (heteroscedasticity tests and autocorrelation tests), and hypothesis testing. Based on the results of the three preliminary tests in determining the panel data regression model, this study will use the fixed effect model to examine the relationship between variables in the regression model 1. The results of the analysis prove that board tenure and institutional ownership have a positive effect on risk disclosure, while the gender composition of female directors has no effect on risk disclosure.

Downloads

Download data is not yet available.

References

Aditya, H., & Meiranto, W. (2015). Analisis Pengaruh Good Corporate Governance terhadap Risk Disclosure. Diponegoro Journal of Accounting, 4(4), 1–10. https://ejournal3.undip.ac.id/index.php/accounting/article/view/9572

Amran, A., Manaf Rosli Bin, A., & Che Haat Mohd Hassan, B. (2009). Risk reporting: An exploratory study on risk management disclosure in Malaysian annual reports. Managerial Auditing Journal, 24(1), 39–57. https://doi.org/10.1108/02686900910919893

Baum, C. F. (2001). Residual Diagnostics for Cross-section Time Series Regression Models. The Stata Journal: Promoting Communications on Statistics and Stata, 1(1), 101–104. https://doi.org/10.1177/1536867x0100100108

Bravo, F., & Reguera‐Alvarado, N. (2017). The effect of board of directors on R&D intensity: board tenure and multiple directorships. R&D Management, 47(5), 701-714. https://doi.org/10.1111/radm.12260

Che-Adam, N., Lode, N. A., & Abd-Mutalib, H. (2019). THE INFLUENCE OF BOARD OF DIRECTORS’CHARACTERISTICS ON THE ENVIRONMENTAL DISCLOSURE AMONG MALAYSIAN COMPANIES. Malaysian Management Journal, 23, 1-25. https://doi.org/10.32890/mmj.23.2019.9682

Christian, J., & Kurnia, R. (2016). Determinant Tingkat Keputusan Pengungkapan Wajib Risiko Keuangan Perbankan dan Peran Corporate Governance Sebagai Varibel Moderasi.

Demsetz, H., & Lehn, K. (1985). The structure of corporate ownership: Causes and consequences. Journal of political economy, 93(6), 1155-1177. http://dx.doi.org/10.1086/261354

Drukker, D. M. (2003). Testing for serial correlation in linear panel-data models. The stata journal, 3(2), 168-177. https://doi.org/10.1177%2F1536867X0300300206

Elzahar, H., & Hussainey, K. (2012). Determinants of narrative Risk Disclosures in UK interim reports. Journal of Risk Finance, 13(2), 133–147. https://doi.org/10.1108/15265941211203189

ES, Y. M., Fakhruddin, I., Fitriati, A., & Pratama, B. C. (2021). Pengaruh Dewan Direksi, Dewan Komisaris Independen. Kepemilikan Manajerial, Kepemilikan Institusional, Dan Dewan Pengawas Syariah Terhadap No Performing Financing (Studi Kasus Pada Bank Umum Syariah Yang Terdaftar Di OJK Periode 2015-2019). Ratio: Reviu Akuntansi Kontemporer Indonesia, 2(2).

Falendro, A., Faisal, F., & Ghozali, I. (2018). Karakteristik Dewan Komisaris, Komite Dan Pengungkapan Risiko Perusahaan. Jurnal Reviu Akuntansi Dan Keuangan, 8(2), 115. https://doi.org/10.22219/jrak.v8i2.31

Farida, D. N. (2019). Pengaruh Diversitas Gender Terhadap Pengungkapan Sustainability Development Goals. Jurnal Akuntansi Indonesia, 8(2), 89. https://doi.org/10.30659/jai.8.2.89-107

García-Meca, E. (2016). Political connections, gender diversity and compensation policy. Review of Managerial Science, 10(3), 553-576. https://doi.org/10.1108/medar-04-2020-0868

Garcia-Sanchez, I. M., Martínez-Ferrero, J., & García-Meca, E. (2017). Gender diversity, financial expertise and its effects on accounting quality. Management Decision.

Gujarati, D. N., & Porter, D. C. (2009). Basic Econometrics (5th ed.). McGraw-Hill/Irwin

Gunawan, B., & Zakiyah, Y. N. (2017). Pengaruh mekanisme corporate governance, ukuran perusahaan, dan leverage terhadap risk management disclosure. Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan, Dan Akuntansi, 9(1), 1-18. https://doi.org/10.35313/ekspansi.v9i1.559

Hamdani, Y., & Hatane, S. E. (2017). Pengaruh Wanita Dewan Direksi terhadap Firm Value melalui Firm Performance sebagai Variabel Intervening. Business Accounting Review, 5(1), 121–132. http://publication.petra.ac.id/index.php/akuntansi-bisnis/article/view/6369

Hardana, H., & Syafruddin, M. (2019). Analisis Pengungkapan Manajemen Risiko (Bukti Indonesia). Diponegoro Journal of Accounting, 8(2). Retrieved from https://ejournal3.undip.ac.id/index.php/accounting/article/view/25690

Huybrechts, J., Voordeckers, W., & Lybaert, N. (2013). Entrepreneurial risk taking of private family firms: The influence of a nonfamily CEO and the moderating effect of CEO tenure. Family Business Review, 26(2), 161-179. https://doi.org/ 10.1177/0894486512469252

Ikatan Akuntan Indonesia. 2015. Pernyataan Standar Akuntansi Keuangan.No.1.Http://Iaiglobal.Or.Id/V03/StandarAkuntanskeuangan/Pernyataa n-Sak-7-Psak-1-Penyajian-Laporan-Keuangan

Innayah, M. N., Fuad, M., & Pratama, B. C. (2021). Intellectual Capital and Firm Performance: The Role of Women Directors. Jurnal Akuntansi dan Pajak, 22(1). http://dx.doi.org/10.29040/jap.v22i1.2299

Isabel, Garcia, M., & Sanchez, J. (2017). Gender diversity, financial expertise and its effects on accounting quality. In Management Decision (Vol. 55, Issue 2). https://doi.org/10.1108/MD-02-2016-0090

Jensen, M. C., & Meckling, W. H. (2019). Theory of the firm: Managerial behavior, agency costs and ownership structure. In Corporate Governance (pp. 77-132). https://doi.org/10.1007/978-94-009-9257-3_8

Juwita, A., & Jurnali, T. (2020). Analisis Pengaruh Corporate Governance dan Ukuran Perusahaan terhadap Manajemen Risiko pada Perusahaan di Bursa Efek Indonesia. Global Financial Accounting Journal, 4(1), 38. https://doi.org/10.37253/gfa.v4i1.755

Kim, K., & Yang, J. S. (2014). Director tenure and financial reporting quality: Evidence from Korea. Review of Integrative Business and Economics Research, 3(1), 237.

Kwalomine, A. L. (2018). Pendidikan, Masa Jabatan Direktur Utama Dan Pengungkapan Corporate Sosial Responsibility (Csr). Jurnal Riset Akuntansi Terpadu, 11(1), 72–82. https://doi.org/10.35448/jrat.v11i1.4224

Laela, S. F. (2014). Dynamic strategic-fit dan kinerja: Studi pada perbankan syariah. Jurnal Akuntansi dan Keuangan Indonesia, 11(1), 2. https://doi.org/10.21002/jaki.2014.02

Lestari, T., Mutmainah, K., Akuntansi, P., Ekonomi, F., & Bisnis, D. (2020). Studi Empiris pada Perusahaan Manufaktur Industri Barang Konsumsi yang terdaftar di BEI Periode 2015 sampai 2018. Journal of Economic, Business and Engineering (JEBE), 2(1), 34–41.

Limena, Y., & Eriandani, R. (2020). Jurnal Akuntansi, Keuangan dan Teknologi Informasi Akuntansi. Jurnal Akuntansi, Keuangan, Dan Teknologi Informasi Akuntansi, 1(2), 119–131. https://doi.org/10.36085/jakta.v3i1

Linsley, P. M., & Shrives, P. J. (2006). Risk reporting: A study of Risk Disclosures in the annual reports of UK companies. British Accounting Review, 38(4), 387–404. https://doi.org/10.1016/j.bar.2006.05.002

Loukil, N., & Yousfi, O. (2016). Does gender diversity on corporate boards increase risk‐taking?. Canadian Journal of Administrative Sciences/Revue Canadienne des Sciences de l'Administration, 33(1), 66-81. https://doi.org/10.1002/cjas.1326

Moh'd, M. A., Perry, L. G., & Rimbey, J. N. (1998). The impact of ownership structure on corporate debt policy: A time‐series cross‐sectional analysis. Financial Review, 33(3), 85-98. https://doi.org/10.1111/j.1540-6288.1998.tb01384.x

Mubarok, M. A., & Rohman, A. (2013). perusahaan dan mekanisme Corporate Governance terhadap pengungkapan risiko dalam laporan keuangan interim (studi empiris pada perusahaan-perusahaan Diponegoro Journal of Accounting, 2, 1–15. https://ejournal3.undip.ac.id/index.php/accounting/article/view/3362

Muslih, M., & Mulyaningtyas, C. T. (2019). Pengaruh Corporate Governance , Kompetisi dan Karakteristik Perusahaan Terhadap Pengungkapan Risiko Perusahaan. Jurnal Akuntansi Riset, 11(1), 179–188.

Nathaniela, I., & Badjuri, A. (2018). Faktor Yang Berpengaruh Terhadap Risk Disclosure (Studi Empiris Pada Perusahan Perbankan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2015-2017). Dinamika Akuntansi Keuangan dan Perbankan, 7(2).

Nielsen, S., & Huse, M. (2010). The contribution of women on boards of directors: Going beyond the surface. Corporate Governance: An International Review, 18(2), 136–148. https://doi.org/10.1111/j.1467-8683.2010.00784.x

Nuansari, S. D. (2019). Kinerja Merger dan Akuisisi, Pengalaman Direktur, Usia Direktur, Masa Jabatan Direktur, dan Board Size di Indonesia. Jurnal Manajemen dan Kearifan Lokal Indonesia, 3(2), 84-93. https://doi.org/10.26805/jmkli.v3i2.67

Peraturan Otoritas Jasa Keuangan No 18/POJK.03/2016 tentang Penerapan Manajemen Risiko bagi Bank Umum

Peraturan Otoritas Jasa Keuangan No 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emitmen atau Perusahaan Publik

Peraturan Otoritas Jasa Keuangan No 56/POJK.03/2016 tentang Kepemilikan Saham Bank Umum

Pradana, M. T., & Khairusoalihin, K. (2021). Pengaruh Board Diversity, Kompensasi Dewan Direksi Dan Kepemilikan Manajerial Dewan Direksi Terhadap Nilai Perusahaan. Analisis, 11(1), 1-20. https://doi.org/10.37478/als.v11i1.824

Pratama, B. C., & Innayah, M. N. (2019). Intellectual Capital and Firm Performance: The Role of Institutional And Family Ownership. Journal of Accounting and Investment, 20(3), 140–150. https://doi.org/10.23917/benefit.v4i2.8219

Purnomo, D. A., Mudjiyanti, R., Hariyanto, E., & Pratama, B. C. (2021). Pengaruh Dewan Direksi, Dewan Komisaris, Kepemilikan Publik Dan Kepemilikan Institusional Terhadap Kinerja Perusahaan (Studi Pada Perusahaan Bumn Yang Terdaftar Di Bursa Efek Indonesia Periode 2016-2020). Ratio: Reviu Akuntansi Kontemporer Indonesia, 2(2). https://doi.org/10.30595/ratio.v2i2.10375

Puspitosari, I. (2019). Apakah Leverage, Ukuran Perusahaan dan Masa Jabatan Direksi Mempengaruhi Kualitas Laporan Keuangan Bank Umum Syariah? FINANSIA: Jurnal Akuntansi Dan Perbankan Syariah, 2(02), 121. https://doi.org/10.32332/finansia.v2i2.1648

Ramos, J., & Cahyonowati, N. (2021). DAN KOMITE TERHADAP PENGUNGKAPAN RISIKO. 11, 1–15.

Rifani, D. R., & Astuti, C. D. (2019). Mekanisme Tata Kelola Perusahaan Dan Pengungkapan Risiko. Jurnal Informasi, Perpajakan, Akuntansi, Dan Keuangan Publik, 14(1), 1–18. https://doi.org/10.25105/jipak.v14i1.5010

Saidah, S., & Handayani, S. (2014). Pengaruh Mekanisme Corporate Governance Terhadap Pengungkapan Risiko Perusahaan (Studi Empiris pada Laporan Tahunan Perusahaan Non Keuangan Yang Terdaftar di BEI Periode 2011-2013). Jurnal Akuntansi Unesa, 3(1).

Salem, I. H., Ayadi, S. D., & Hussainey, K. (2019). Corporate governance and Risk Disclosure quality: Tunisian evidence. Journal of Accounting in Emerging Economies, 9(4), 567–602. https://doi.org/10.1108/JAEE-01-2019-0005

Sanchez, G. (2012). Fitting Panel Data Linear Models in Stata. StataCorp LP, 1–42.

Sartawi, I. I. S. M., Hindawi, R. M., Bsoul, R., & Ali, A. J. (2014). Board Composition, Firm Characteristics, and Voluntary Disclosure: The Case of Jordanian Firms Listed on the Amman Stock Exchange. International Business Research, 7(6). https://doi.org/10.5539/ibr.v7n6p67

Seebeck, A., & Vetter, J. (2022). Not just a gender numbers game: How board gender diversity affects corporate Risk Disclosure. Journal of Business Ethics, 177(2), 395-420. https://doi.org/10.1007/s10551-020-04690-3

Setiawan, D., & Andriyanto, E. A. (2019). Apakah Keberadaan Komisaris Keluarga Dan Komisaris Independen Meningkatkan Pengungkapan Risiko? Jurnal Ilmiah Akuntansi Dan Bisnis, 1–9. https://doi.org/10.24843/jiab.2019.v14.i01.p01

Setyawan, B. (2019). Pengaruh Tata Kelola Perusahaan Dan Struktur Kepemilikan Terhadap Tingkat Pengungkapan Risiko Keuangan. Jurnal Mitra Manajemen, 3(1), 131-146. https://doi.org/10.52160/ejmm.v3i1.192

Suhardjanto, D., Utami, M. E., & Syafruddin, M. (2017). Board of commissioners diversity and financial performance: a comparative study of listed mining industry in Indonesia and Pakistan. Review of Integrative Business and Economics Research, 6, 131.

Taufani, M. T., Askandar, N. S., & Mahsuni, A. W. (2017). Pengaruh Struktur Kepemilikan Terhadap Risk management Disclosure (Studi Pada Perusahaan Perbankan Yang Terdaftar di Bursa Efek Indonesia 2013-2015). Jurnal Ilmiah Riset Akuntansi, 6(07).

Thendean, C. A., & Meita, I. (2019). PENGARUH UKURAN DEWAN KOMISARIS DAN UKURAN DEWAN DIREKSI TERHARAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN INSTITUSIONAL SEBAGAI VARIABEL MODERASI. Jurnal Ekonomi, Manajemen, dan Akuntansi, 21(2), 152-162. http://dx.doi.org/10.34209/equ.v21i2.641

Torres-reyna. (2010). Panel data analysis fixed and random effects using Stata. Data and Statistical Services, 3(December), 1–40.

Trisdia, M. K., & Nyoman, B. I. (2018). Institutional ownership Capability in moderated disclosure effect of Enterprise risk management, intellectual capital, and corporate social responsibility on firm value. Russian Journal of Agricultural and Socio-Economic Sciences, 78(6), 313-321. https://doi.org/10.18551/rjoas.2018-06.36

Triyuwono, E. (2018). Proses Kontrak, Teori Agensi dan Corporate Governance (Contracting Process, Agency Theory, and Corporate Governance). SSRN Electronic Journal, 1–14. https://doi.org/10.2139/ssrn.3250329

Wijaya, B. (2018). Analisis Tingkat Kesehatan Bank Dengan Menggunakan Metode Risk-Based Bank Rating (RBBR) (Studi Pada Bank yang Termasuk Saham LQ45 Sub Sektor Perbankan Tahun 2010â€“2016). Jurnal Akuntansi Maranatha, 10(1), 85–97. https://doi.org/10.28932/jam.v10i1.931

Yeo, J., & Suparman, M. (2021). Peranan Karakteristik Dewan Direksi dan Struktur Kepemilikan dalam Pengungkapan Sukarela Perusahaan Publik Indonesia. Jurnal Ilmiah Akuntansi Kesatuan, 9(3), 511–522. https://doi.org/10.37641/jiakes.v9i3.896