Voluntary Disclosure in Indonesia: Comparison of Shariah and Non-shariah Compliant Companies

Shariah compliant companies are companies which the activities are accordance with Shariah principles. Indonesia, through Bapepam issues Shariah Securities List containing companies which has fulfilled the Shariah requirements issued by regulators. This study attempts to find out the practice of voluntary disclosure of the Shariah compliant companies and identifies the differences with the practice of non-Shariah compliant companies. This research investigates the quantity and quality of voluntary disclosure in the annual reports of Shariah compliant companies listed in Indonesian Stock Exchange and compare it with non-Shariah compliant companies. Voluntary disclosures were measured using 30 items of disclosure index developed by Khomsiah (2005). Based on content analysis of 2009 annual report of 55 Indonesian listed companies for each category, the finding describes the differencse in the quantity and quality of voluntary disclosure value of Shariah and non-Shariah compliant companies. Shariah compliant companies disclose more items and have higher quality of disclosure than non-Shariah compliant companies.Keywords: Shariah compliant companies, voluntary disclosure, content analysis  Perusahaan yang kegiatan operasinya sesuai dengan prinsip Syariah (Shariah compliant companies) adalah emiten atau Perusahaan publik yang kegiatannya sesuai dengan prinsip Syariah. Bapepam telah menerbitkan Daftar Efek Syariah yang memuat kumpulan efek yang tidak bertentangan dengan prinsip-prinsip Syariah di pasar modal. Studi ini bertujuan untuk mengetahui praktek pengungkapan sukarela oleh Perusahaan yang sesuai Syariah dan membandingkannya dengan Perusahaan non-Syariah yang terdaftar di pasar modal Indonesia. Kuantitas dan kualitas pengungkapan sukarela dalam 55 laporan tahunan tahun 2009 untuk masing-masing kategori diukur menggunakan content analysis melalui 30 indeks pengungkapan yang dikembangkan oleh Khomsiah (2005). Hasil penelitian menunjukkan bahwa Perusahaan yang kegiatan operasinya sesuai dengan prinsip Syariah mengungkapkan lebih banyak item dengan kualitas yang lebih tinggi dibandingkan dengan Perusahaan non-Syariah

Perusahaan Syariah dan Pengungkapan Corporate Social Responsibility: Analisis Pengaruh Faktor Internal dan Karakteristik Perusahaan

The development of the shariah compliant companies provides an alternative option for stakeholders to invest in accordance with shariah principles. Disclosure of Islamic social reporting (ISR) is an important point for shariah company to demonstrate its performance to stakeholders and also the extent to which companies carry out activities in accordance with shariah. This study examines the factors that affect the disclosure of ISR on companies listed in the List of Islamic Securities (DES) in 2014. The variables are leverage, liquidity, supporting bank, women in board of commissioners and the educational background of the board of commissioners (BOC). This research is conducted using ISR index developed by Hanifa and Hudaib (2007), which consist of four dimensions and 59 items. Statistical tests find empirical evidence that liquidity and educational background of BOC have positive effect on ISR disclosure, leverage and women in BOC has negative effect while supporting banks have no effect on the disclosure of ISR

Mekanisme Corporate Governance Dan Pengungkapan Islamic Social Reporting Pada Perbankan Syariah Di Indonesia Dan Malaysia

The high growth of the Islamic financial institution raises the qustion of the extent of their social responsibility towards the environment. Especially Islamic values attached to these institutions provide the demand to further contribute to the life of the community. This study aims at analyzing the influence of corporate governance mechanism toward Islamic Social Reporting (ISR) Disclosure in Islamic banking in Indonesia and Malaysia. These two countries have Muslim majority population and the high growth of Islamic financial institutions development. ISR disclosure is important to perform the accountability of Islamic bank to the accordance of Islamic principles and the environment. The paper uses corporate governance mechanism as factor to evaluate its influence toward ISR disclosure. The population in this study is all Islamic banks in Indonesia and Malaysia, which publish the annual report from 2012 to 2014. The research sample includes 33 data from 11 Islamic banks in Indonesia and 39 data from 13 Islamic banks in Malaysia. The technique that used in this study is panel regression with random effect model. Based on the analysis, the research finds that only the number of member and meeting of nomination and remuneration committee affecst positively toward ISR disclosure, while the dual position and number of meeting of sharia supervisory board, the institutional and foreign ownership do not have influence toward ISR disclosure.Perkembangan lembaga keuangan syariah memunculkan pertanyaan sejauh mana tanggung jawab social mereka terhadap lingkungan. Nilai-nilai Islam yang melekat padalembaga ini memberikan tuntutan sejauh mana kontribusi mereka pada masyarakat. Penelitian ini bertujuan untuk menganalisis pengaruh mekanisme corporate governance terhadap pengungkapan Islamic social reporting (ISR) dalam perbankan Islam di Indonesia dan Malaysia. Kedua negara ini memiliki penduduk mayoritas Muslim dan pertumbuhan lembaga keuangan Islam yang cukup pesat. Pengungkapan ISR merupakan hal yang penting untuk menilai akuntabilitas banksyariah terhadap kesesuaiannya dengan syariah dan terhadaplingkungan. Populasi dalam penelitian ini adalah bank umum syariah di Indonesia dan Malaysia yang memenuhi kriteria menerbitkan laporan tahunan dari 2012 hingga 2014. Sampel penelitian meliputi 33 data dari 11 bank syariah di Indonesia dan 39 data dari 13 bank syariah di Malaysia. Teknik analisis yang dipergunakan dalam penelitian ini ialah menggunakan regresi panel dengan efek acak. Berdasarkan hasil pengujian, penelitian ini menemukan bahwa hanya jumlah anggota dan jumlah rapat komite remunerasi dan nominasi yang berpengaruh positif terhadap pengungkapan ISR, sementara rangkap jabatan dan jumlah anggota DPS, kepemilikan institusional dan asing tidak berpengaruh terhadap pengungkapan ISR