Pengaruh Board Size, Board Tenure, Independent Commissioners dan Audit Committee terhadap ESG Score LQ45

Nur Tashkira Sahrir; Wiwin Aminah

doi:10.33395/owner.v10i4.3805

Authors

Nur Tashkira Sahrir Universitas Telkom
Wiwin
✉ Corresponding author: wiwinaminah@telkomuniversity.ac.id Universitas Telkom

DOI:

https://doi.org/10.33395/owner.v10i4.3805

Keywords:

Board Size, Board Tenure, Independent Commissioners, Audit Committee, ESG Score, Akuntansi

Abstract

This study examines the effect of board size, board tenure, independent commissioners, and audit committee on ESG Score among LQ45 companies listed on the Indonesia Stock Exchange during 2020-2024. The research is motivated by the increasing relevance of Environmental, Social, and Governance (ESG) information in capital-market decision making and the wide variation of ESG Score among highly liquid and large-capitalization firms. The population consists of 71 LQ45 constituent companies observed during the study period. Using purposive sampling, 24 companies met the criteria of consistently publishing annual reports and having complete ESG Score data from Refinitiv/LSEG, producing 120 firm-year observations. This study applies a quantitative causal-associative approach using secondary data obtained from annual reports, sustainability reports, and Refinitiv/LSEG. Data were analyzed using panel data regression with EViews 12 after model selection and classical assumption testing. The Chow and Hausman tests indicate that the Fixed Effect Model is the most appropriate model. The results show that board size, board tenure, independent commissioners, and audit committee simultaneously have a significant effect on ESG Score. Partially, board tenure has a positive and significant effect on ESG Score, while board size, independent commissioners, and audit committee have no significant effect. The adjusted R-squared value of 0.882250 indicates that 88.23% of ESG Score variation is explained by the model. The findings imply that accumulated board experience is more relevant than the mere number of governance organs in strengthening corporate ESG score.

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