The SDGs agenda, which have been held until 2030, invites business entities to participate in achieving SDGs
based on their abilities in planning and innovation. Responding to this, this
study explores the role of
stakeholders, represented by the ownership structure of Indonesia public
companies in supporting the
agenda.
A total of 69 companies
in infrastructure, utilities, and transportation (IUT) sector meet to be used as
research samples and for
three years from 2016 - 2018 produced
141 observations. All data is taken
from the company's annual report during the observation period. Collecting SDGs data used content
analysis applied to disclosure of corporate
social responsibility as research object.
The
results show that stakeholders,
both managerial and foreign ownership negatively significant
influenced the SDGs disclosure. Meanwhile, institutional
ownership insignificantly affected the
disclosure of SDGs. Other findings demonstrate that
the age and size of the company positively
significant relate to the disclosure of SDGs. From stakeholder theory perspective,
stakeholders (foreign, institutional and management ownership)
of IUT companies in Indonesia seem to be ineffective yet
in influencing and changing company management decisions to encourage SDGs,
which are testified by low SDGs disclosure. One realistic and challenging explanation is
that the program has only been running for three years, so that shareholders
and company management are still in the process of considering the program in
corporate strategy. This study, however, contributes on providing
feedback to evaluate and to improve implementation of the SDGs program. Researh
avenue with SDGs theme is still needed by developing model or by regarding
other parties.