Corporate Philanthropy Disclosure of State-Owned Enterprises in Indonesia

Agung Nur Probohudono(1), Raja Adzrin Raja Ahmad(2), Indra Kristianto Pambudi(3), Nur Chayati(4),

(1) Universitas Sebelas Maret, Indonesia
(2) Universiti Teknologi Mara, Malaysia
(3) Universitas Sebelas Maret, Indonesia
(4) Universitas Sebelas Maret, Indonesia


Corporate philanthropy is becoming big in businesses and a major strategic issue for firms as they actively aim to be socially responsible organizations. This study aims to measure the extent of Corporate Philanthropy Disclosure (CPD) and the impact of foreign ownership, managerial ownership, the proportion of independent directors, and company size on CPD in annual reports of State-Owned Enterprises (SOEs) in Indonesia. The level of CPD in this study was measured using an index adapted from previous research and regulation. Annual reports of 153 SOEs for 2010–2012 were examined to measure the extent of CPD and investigate its potential determinant factors. Study results indicate that company size has a significant positive effect on CPD and managerial ownership has a moderate effect. In addition, the results also show that the control variable, Public Company (Perum), has a significant effect on CPD in SOEs in Indonesia. The average CPD rate is only 63.00%, which indicate that CPD has been commonly disclosed in annual reports. The findings regarding corporate philanthropy in annual reports should be on concern to regulatory authorities and standard-setters in Indonesia.


corporate philanthropy, disclosure, institutional theory






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Indonesian Journal of Sustainability Accounting and Management (IJSAM) 
p-ISSN 2597-6214 | e-ISSN 2597-6222 
Published by Universitas Pasundan, Indonesia.
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