Corporate Governance on Strategic Management Accounting, Innovation Research Interchange Sustainability Maturity Model and Its Impact on Organizational Culture
Author(s)
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Abstract
This study is aiming at examining the influence of Corporate Governance (CG) on Strategic Management Accounting (SMA), IRI Sustainability Maturity Model and its impact on Organizational Culture. This study analyzes how CG influences SMA, how CG influences Sustainability Maturity Model, how SMA influences IRI Sustainability Maturity Model and the impact of IRI Sustainability Maturity Model to Organizational Culture. CG is represented by the dimensions of Independent Directors, Independent Board of Commissioners, Board of Directors and Audit Committee. SMA is represented by the Costing, Strategic Planning, Control and Performance Management, Budgeting, Strategic Decision Making, Competitor Accounting and Customer Accounting dimensions. IRI Sustainability Maturity Model is represented by dimensions of strategy and design tools while Organizational Culture is represented by Goals Achievements, Self Actualization and Humane Awards.
This study applies a mixed-method with Structural Equation Modeling (SEM) data analysis techniques. This study also uses 1 (one) to 6 (six) Likert scale measure. The data used is primary data which gained from 137 respondents of 175 distributed samples. The result of the study shows that only the independent board of commissioners and board of directors as part of CG have an effect on SMA and IRI Sustainability Maturity Model. All dimensions of SMA affect the IRI Sustainability Maturity Model and all dimensions of the IRI Sustainability Maturity Model influence the Organizational Culture. Since this study only focuses on manufacturing companies, the results cannot be considered representing non-manufacturing companies. Independent directors and audit committees from the samples tend to be not playing an optimal role as agents of corporate governance. The author is unable to obtain further supporting data because of the policies in terms of company confidentiality.
For companies, they must tighten the selection of independent commissioners, independent directors and audit committees by examining each candidate’s backgrounds and education, work experience and expertise. In addition, the board of directors must also give trust to independent directors and audit committees to be able to carry out their role as agents of governance in accordance with Circular Letter of the Indonesia Stock Exchange No. SE-00001/BEI/02-2014. For the government, it is better to incorporate the elements of education, work experience and expertise into regulations for those who will become stakeholders, especially independent board of commissioners, independent directors and audit committees.
If previous research emphasized on whether CG influences SMA and on how CG relates to sustainability in terms of financial statements, this study shows that IRI Sustainability Maturity Model as an intervening variable is able to show that it directly or indirectly affects Corporate Governance and Strategic Management Accounting and Organizational Culture.
Keywords
Corporate Governance, Strategic Management Accounting, IRI Sustainability Maturity Model and Organizational Culture
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