Ardian Widiarto

This study examines the role of the risk management committee as a moderating variable. The risk management committee will moderate the relationship between firm size, profitability, ownership concentration, and the size of the Enterprise Risk Management (ERM) disclosure board. The study is based on agency theory, which discusses the relationship between management and company owners and shareholders. The research sample consisted of 56 manufacturing companies in Indonesia with 224 units of analysis obtained using the purposive sampling technique. It has been proven that the risk management committee can moderate the relationship between firm size and ERM disclosure and ownership concentration and ERM disclosure. Company size is known to affect the disclosure of risk management in a company. But ownership concentration shows different things, that is, it does not affect corporate risk management disclosures. The results also show that the risk management committee cannot moderate the relationship between profitability and the size of the board of commissioners on the company’s risk management disclosures. It has also not been proven that profitability and the size of the board of commissioners directly affect corporate risk management disclosures. Thus, it can be stated that the risk management committee plays a role in controlling the extent of the company’s risk management disclosures; this is necessary to maintain stakeholder trust in the company.

Type of the article: Research Article

Abstract
Ensuring high-quality environmental disclosure has become a strategic concern for companies amid increasing public scrutiny and ongoing environmental degradation. This paper aims to examine the effect of environmental performance and corporate governance structure on the quality of environmental disclosure of manufacturing companies in Indonesia. Observations were made on 52 manufacturing companies that submitted annual and sustainability reports from 2020 to 2022. Panel data were analyzed using regression techniques. The empirical findings indicate that environmental performance, board size, board meeting frequency, multiple directorships, and the age of the youngest director have a positive and statistically significant impact on the quality of environmental disclosure. Specifically, environmental performance demonstrated a coefficient of 6.58 (p < 0.01), the age of the youngest director – 0.30 (p < 0.10), multiple directorships – 1.42 (p < 0.05), board size – 1.28 (p < 0.05), and board meeting frequency – 0.19 (p < 0.10). Conversely, director tenure exhibited a negative effect of 0.53 (p < 0.05). This study concludes that environmental performance and corporate governance are critical determinants of the quality of environmental disclosure in the context of Indonesian manufacturing companies. Overall, the study offers practical implications for regulators and corporate decision-makers seeking to improve environmental accountability and strengthen long-term stakeholder trust.