Moderating Effect of Sustainability Committee towards the Relationship between Organisation’s Ownership and Sustainability Reporting Quality in Malaysia
Jabatan Kastam DiRaja Malaysia Bahagian Perancangan Korporat
Aras 7, Kompleks Kementerian Kewangan 62596 Putrajaya, MALAYSIA
Fakulti Ekonomi dan Pengurusan
Universiti Kebangsaan Malaysia
43600 UKM Bangi, Selangor,
MALAYSIA
Abstract
Objektif kajian ini adalah untuk mengkaji hubungan antara pemilikan kerajaan dan pemilikan keluarga dengan kualiti pelaporan kelestarian di Malaysia. Kajian ini turut mengkaji kesan pemoderat jawatankuasa kelestarian ke atas hubungan antara struktur pemilikan dan kualiti pelaporan kelestarian. Motivasi kajian ini adalah arahan Bursa Malaysia mewajibkan syarikat tersenarai menyediakan penyata kelestarian pada tahun 2015. Sampel kajian terdiri daripada 100 syarikat terbesar yang tersenarai di Bursa Malaysia berdasarkan saiz pasaran modal. Data dikumpul daripada laporan tahunan syarikat bagi tahun 2013, 2014, 2016 dan 2017. Kualiti pelaporan kelestarian diukur menggunakan skor indeks Global Reporting Initiative (GRI) 3.1 yang mempunyai 79 petunjuk ukuran. Penemuan kajian membuktikan bahawa pemilikan kerajaan berhubungan positif dengan kualiti pelaporan kelestarian. Sebaliknya, pemilikan keluarga adalah berhubungan negatif dengan kualiti pelaporan kelestarian. Kajian ini juga mendapati jawatankuasa kelestarian melemahkan hubungan negatif antara pemilikan keluarga dan kualiti pelaporan kelestarian. Namun, didapati jawatankuasa kelestarian tidak menguatkan hubungan positif antara pemilikan kerajaan dan kualiti pelaporan kelestarian. Dapatan kajian ini menyumbang kepada literatur pelaporan kelestarian dan memberi input kepada Bursa Malaysia serta Suruhanjaya Sekuriti mengenai kualiti pelaporan kelestarian dan kepentingan jawatankuasa kelestarian.
The objective of this study is to investigate the relationship between government ownership and family ownership with sustainability reporting quality in Malaysia. This study also examines the moderating effect of sustainability committee on the relationship between ownership structure and sustainability reporting quality. The motivation of this study is subsequent of the Bursa Malaysia’s mandatory requirement for all listed companies to prepare sustainability statement in 2015. The sample of this study comprises of 100 largest listed companies on Bursa Malaysia based on market capitalization. Data is collected from company’s annual reports for year 2013, 2014, 2016 and 2017. Quality of sustainability reporting is measured using Global Reporting Initiative (GRI) 3.1 index score that has 79 indicators. The findings of the study show that government ownership is positively related to the sustainability reporting quality. In contrast, family ownership is negatively associated with the sustainability reporting quality. This study also suggests that sustainability committee weaken the negative relationship between family ownership and sustainability reporting quality. However, the result did not find any significant findings that can prove the sustainability committees are capable of strengthening the positive relationship between government ownership and sustainability reporting quality. The findings contribute to sustainability reporting literature and provide inputs to Bursa Malaysia and Securities Commission on sustainability reporting quality and the importance of sustainability committees.