HOW BOARD SIZE MODERATES THE EFFECT OF CEO POWER ON ESG
Keywords:
CEO Power; ESG; Board Size
Abstract
This study aims to explore how CEO Power affects ESG with the moderating role of board size which the answer is remains unexplored, while in the extant literature the impact of ESG is the most discussed. The findings was conducted on public companies listed on the Indonesia Stock Exchange (IDX) reveal that the direct impact of CEO Power on ESG performance is significant. However,the result of the moderating effect of Board Size does not show a significant effect. The findings of this study contributes by revealing how CEO Power affects ESG with the moderating role of Board Size.
References
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Lee, A. X., & Hooy, C. W. (2024). CEO Power and ESG Performance: The Mediating Role of Managerial Risk-Taking. Institutions and Economies, 16(2), 57–82. https://doi.org/10.22452/IJIE.vol16no2.3
Nasta, L., Magnanelli, B. S., & Ciaburri, M. (2024). From profits to purpose: ESG practices, CEO compensation and institutional ownership. Management Decision, 62(13), 93–115. https://doi.org/10.1108/MD-06-2023-0932
Qian, T., & Yang, C. (2023). State-Owned Equity Participation and Corporations’ ESG Performance in China: The Mediating Role of Top Management Incentives. Sustainability (Switzerland), 15(15). https://doi.org/10.3390/su151511507
Setiarini, A., Gani, L., Diyanty, V., & Adhariani, D. (2023). Strategic orientation, risk-taking, corporate life cycle and environmental, social and governance (ESG) practices: Evidence from ASEAN countries. Business Strategy and Development, 6(3), 491–502. https://doi.org/10.1002/bsd2.257
Treepongkaruna, S., Kyaw, K., & Jiraporn, P. (2024). ESG controversies and corporate governance: Evidence from board size. Business Strategy and the Environment, 33(5), 4218–4232. https://doi.org/10.1002/bse.3697
Ulinnuha, K. S., Harymawan, I., & Aini, S. N. (2024). CEO Education from Reputable University and ESG Disclosure: Evidence from Indonesia. Jurnal Dinamika Akuntansi Dan Bisnis, 11(1), 1–14. https://doi.org/10.24815/jdab.v11i1.33305
Velte, P. (2020). Does CEO power moderate the link between ESG performance and financial performance?: A focus on the German two-tier system. Management Research Review, 43(5), 497–520. https://doi.org/10.1108/MRR-04-2019-0182
Wang, Q., Pei, X., & Liang, H. (2022). Founder CEO, CEO Characteristics, and Firm Innovation Efficiency: An Empirical Study of China’s GEM-Listed Companies. Sustainability (Switzerland), 14(14). https://doi.org/10.3390/su14148250
Xia, F., Thewissen, J., Huang, W., & Yan, S. (2024). Founder-CEO Extraversion and Sustainability Orientation in Initial Coin Offerings. Entrepreneurship: Theory and Practice, 48(4), 941–980. https://doi.org/10.1177/10422587231211012
Yang, X., Sheikh Hassan, A. F., Lau, W. T., & Ab Razak, N. H. (2023). The discordance of governance performance from environmental and social performance on idiosyncratic risk: The effect of board composition. Cogent Economics and Finance, 11(2). https://doi.org/10.1080/23322039.2023.2276556
Yin, J., & Xu, J. (2025). Exploring the Impact of Board Size on ESG Controversies: New Evidence from China. Sustainability (Switzerland), 17(11). https://doi.org/10.3390/su17114855
Zachary, E., & Fuad. (2025). 49315-114973-1-Sm. 14(April 2019), 1–12.
Zulkarnaen, W., Fitriani, I., & Yuningsih, N. (2020). Pengembangan Supply Chain Management Dalam Pengelolaan Distribusi Logistik Pemilu Yang Lebih Tepat Jenis, Tepat Jumlah Dan Tepat Waktu Berbasis Human Resources Competency Development Di KPU Jawa Barat. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(2), 222-243. https://doi.org/10.31955/mea.vol4.iss2.pp222-243.
Published
2025-12-20
How to Cite
Hesniati, H., Jeffrey, J., & Candra, T. (2025). HOW BOARD SIZE MODERATES THE EFFECT OF CEO POWER ON ESG. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 9(3), 2519-2528. https://doi.org/10.31955/mea.v9i3.6648
Section
Articles
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