Voluntary Disclosure and Market Valuation of Sustainability Reports in Korea: The Case of Chaebols

Lee, Dongheun; Lee, Sejoong; Cho, Na-Eun

doi:10.3390/su11133577

Cited by 6 publications

(11 citation statements)

References 53 publications

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“…Tobin Q yang digunakan pada penelitian ini dihitung dengan rasio Q yang telah di modifikasi oleh Lee et al (2019). (Irawan et al, 2019).…”

Section: Nilai Perusahaanunclassified

“…Deskriptif variabel penelitian berdasarkan perolehan data dari 120 perusahaan manufaktur 2018 yang ada di Bursa Efek Indonesia ditunjukkan pada Tabel 3, yang menunjukkan bahwa nilai rata-rata tertinggi berada pada variabel nilai perusahaan yang mana diukur menggunakan rumus dari Tobins Q yang di modifikasi oleh Lee et al (2019) sebesar 4,53, sedangkan rata-rata pengungkapan CSR di Indonesia berdasarkan 32 indikator yang di kembangkan oleh (Gamerschlag et al, 2011) adalah sebesar 0,28.…”

Section: Deskriptif Variabel Penelitianunclassified

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Pengaruh Corporate Social Responsibility (Csr) Dan Reputasi Perusahaan Terhadap Nilai Perusahaan

Afifah

Astuti

Irawan

2021

EKUITAS

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This study aims to provide empirical evidence about the effect of corporate social responsibility disclosure and corporate reputation on firm value. The population in this study were all manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2018. The sample in this study was 120 companies selected through purposive sampling. The results of data analysis show that CSR has a negative effect on firm value. But the company's reputation has a positive effect on the value of the company. This study also examines the impact of CSR disclosure on company value mediated by company reputation, the results show that company reputation does not mediate CSR disclosure on company value. This finding shows that CSR activities and company reputation are very important for the company's survival. A good relationship between the company and its stakeholders, especially the community in the form of Corporate Social Responsibility activities and a reputation that has been built by a company, will increase the value of a company which is reflected in the stock price which is formed by the demand and supply of the capital market that reflects the public's assessment of the company's performance.

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“…Tobin Q yang digunakan pada penelitian ini dihitung dengan rasio Q yang telah di modifikasi oleh Lee et al (2019). (Irawan et al, 2019).…”

Section: Nilai Perusahaanunclassified

Section: Deskriptif Variabel Penelitianunclassified

Pengaruh Corporate Social Responsibility (Csr) Dan Reputasi Perusahaan Terhadap Nilai Perusahaan

Afifah

Astuti

Irawan

2021

EKUITAS

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“…Research conducted in Finland found a significant positive effect between sustainability report disclosure and firm value (Schadewitz & Niskala, 2010). Other studies conducted in Sri Lanka, Australia, Singapore, Korea, and Sweden also found similar findings (Swarnapali & Le, 2018;Bachoo, et al, 2013;Loh, et al, 2017;Lee, et al, 2019;Johansson & Zametica, 2019). However, couple research related to SR in Indonesia have shown different results.…”

Section: Introductionmentioning

confidence: 60%

Examining The Effect of Sustainability Report Disclosure to Firm Value: A Study Based on Listed Public Companies in Indonesia Stock Exchange

Hadiati,

Muhammad Brilian Wahyudyatmika

2023

DIJEFA

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Companies that mitigate and improve the environment can take advantage of this as a marketing tool in general. Consumers will support companies that have a positive impact on their surroundings. One of the tools that can be used as a form of responsibility and marketing tool is a sustainability report. Sustainability report are reports published by organizations or companies that explain the economic, environmental, and social impacts as result of their operating activities. The report also explains about corporate culture and governance as well as its relationship with the company's strategy and commitment to maintain the sustainability of the triple bottom line (people, planet, profit). Sustainability reporting disclosure index (SRDI) are measured from 89 listed public companies in Indonesia. Regression analysis took place for examining the effect of SRDI to the corresponding firm value represented by Tobin’s Q. Only certain limited sample data showed that there’s a significance effect between sustainability report disclosure and firm value. Enterprises who haven’t disclose their sustainability report still worth high value in share trade. This condition occurs due to investors' decisions to invest are influenced by media coverage, economic conditions, and changes in stock prices.

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“…The relationship between size and voluntary disclosure can be explained by the agency theory. The agency theory suggests that large firms have higher agency costs (Jensen and Meckling, 1976) and thus they will disclose more corporate information to reduce these agency costs (Lee, Lee & Na-Eun, 2019). Although most studies in emerging markets show a positive correlation between firm size and voluntary corporate disclosure, there are few studies such as Chakroun and Matoussi (2012) which have concluded that larger firms have less voluntary corporate disclosure.…”

Section: Empirical Literaturementioning

confidence: 99%

Determinants of Firm-Level Voluntary Corporate Disclosure in Emerging Markets: A Meta-Regression Analysis

Bishagazi¹

2022

JPAG

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The purpose of this paper is to determine which factors are most important in voluntary corporate disclosure at firm level in emerging markets. The study characteristics that cause differences in results in the original empirical studies are also examined. This study applies a meta- regression technique developed by Stanley and Jarrell (1989) to a sample of 32 empirical studies published between 2011 and 2020. The study findings reveal that the financial crisis variable, region of the study variable, and weighting of the dependent variable significantly affect study results of the original empirical researches. Moreover, the most important and robust determinants of corporate disclosure in emerging markets are board independence and foreign listing status. Study findings also indicate that firm size, which is identified by most empirical studies to be a significant and most robust determinant of corporate disclosure, to be insignificant in this meta-regression study. This study will help to resolve the ambiguity that has existed over the past decade in literature as to which factors are really important in voluntary corporate disclosure practices in emerging countries. Secondly, this study extends the literature relating to corporate disclosure practice in emerging countries.

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Voluntary Disclosure and Market Valuation of Sustainability Reports in Korea: The Case of Chaebols

Cited by 6 publications

References 53 publications

Pengaruh Corporate Social Responsibility (Csr) Dan Reputasi Perusahaan Terhadap Nilai Perusahaan

Pengaruh Corporate Social Responsibility (Csr) Dan Reputasi Perusahaan Terhadap Nilai Perusahaan

Examining The Effect of Sustainability Report Disclosure to Firm Value: A Study Based on Listed Public Companies in Indonesia Stock Exchange

Determinants of Firm-Level Voluntary Corporate Disclosure in Emerging Markets: A Meta-Regression Analysis

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