Main Article Content
Abstract
Purpose: This study explores the challenges and opportunities associated with implementing Social and Environmental Accounting (SEA) in Small and Medium Enterprises (SMEs) in emerging markets and the impact of inconsistent global reporting standards on multinational companies.
Research Design and Methodology: The research employs a qualitative approach with a systematic literature review to analyze the existing studies on SEA, mainly focusing on SMEs in emerging markets. The study also examines the role of economic instability and regulatory gaps in shaping SEA practices.
Findings and Discussion: The findings reveal that SMEs in emerging markets face significant challenges in implementing SEA due to economic instability, limited resources, and inadequate regulatory support. On the other hand, multinational companies need more harmonized global reporting standards, which complicates the consistency and comparability of sustainability reporting across borders. The study highlights the need for tailored support mechanisms for SMEs and the importance of advocating for global reporting standardization.
Implications: The study's implications are twofold: it contributes to the academic discourse by addressing underexplored areas in SEA research and offers practical insights for policymakers and business leaders to enhance the adoption of SEA practices. The study also underscores the importance of developing consistent sustainability reporting frameworks to promote transparency and accountability in global business practices.
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This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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- Ambadar, J. (2013). CSR dalam Praktik di Indonesia. Elex Media Komputindo.
- Andrew, J., & Cortese, C. (2011). Accounting for climate change and the self-regulation of carbon disclosures. Accounting Forum, 35(3), 130–138. https://doi.org/https://doi.org/10.1016/j.accfor.2011.06.006
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- Budianto, E. W. H., & Dewi, N. D. T. (2023). Pemetaan penelitian rasio Dividend Per Share (DPS) pada perbankan syariah dan konvensional: studi bibliometrik VOSviewer dan literature review. Al-Mal: Jurnal Akuntansi Dan Keuangan Islam, 4(1), 109–126.
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- Kang, H. C., Anderson, R. M., Eom, K. S., & Kang, S. K. (2017). Controlling shareholders’ value, long-run firm value and short-term performance. Journal of Corporate Finance, 43, 340–353. https://doi.org/https://doi.org/10.1016/j.jcorpfin.2017.01.013
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- Pratama, A., & Febriana, H. (2023). Pengaruh Disiplin Kerja Dan Motivasi Kerja Terhadap Kinerja Karyawan Pada Dinas Perpustakaan Dan Arsip Daerah Kota Tangerang Selatan. EKONOMI BISNIS, 29(1), 47–56.
- Prayogi, G. D., & Kurniawan, W. O. (2024). Analisis Pengungkapan Informasi Lingkungan Dalam Laporan Keuangan Pdam Kabupaten Bondowoso: Perspektif Green Economi Dan Tanggungjawab Sosial Perusahaan: Analisis Pengungkapan Informasi Lingkungan Dalam Laporan Keuangan Pdam Kabupaten Bondowoso: PERSPEKTI. Majalah Ekonomi, 29(1), 20–34. https://jurnal.unipasby.ac.id/index.php/majalah_ekonomi/article/view/8838.
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- Spence, M. S. (1973). Job market signalling. Quarterly Journal of Economics, 90, 225–243.
- Stubbs, W., Higgins, C., & Higgins, C. (2018). Stakeholders’ Perspectives on the Role of Regulatory Reform in Integrated Reporting. Journal of Business Ethics, 147(3), 489–508. https://doi.org/10.1007/s10551-015-2954-0
- Suchman, M. C. (1995). Managing Legitimacy: Strategic and Institutional Approaches. Academy of Management Review, 20(3), 571–610. https://doi.org/10.5465/amr.1995.9508080331
- Sumarto, M. E. J., Rokhim, A., & Muhibbin, M. (2024). Analisis Konsep CSR Dan Sistem Tanggung Jawab Sosial Dan Lingkungan Pada Perseroan Terbatas Yang Berasaskan Keadilan Dan Kepastian Hukum. PERSPEKTIF, 13(2), 498–506. https://doi.org/10.31289/perspektif.v13i2.11226
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- Vesterdorf, P. L. (2005). Small and medium-sized enterprises and the European Union. peter vesterdorf.
- Victor, D. G., Raustiala, K., & Skolnikoff, E. B. (1998). The implementation and effectiveness of international environmental commitments: Theory and practice. MIT press.
- Yadava, R. N., & Sinha, B. (2016). Scoring Sustainability Reports Using GRI 2011 Guidelines for Assessing Environmental, Economic, and Social Dimensions of Leading Public and Private Indian Companies. Journal of Business Ethics, 138(3), 549–558. https://doi.org/10.1007/s10551-015-2597-1
References
Adams, C. A., & Whelan, G. (2009). Conceptualising future change in corporate sustainability reporting. Accounting, Auditing & Accountability Journal, 22(1), 118–143.
Ambadar, J. (2013). CSR dalam Praktik di Indonesia. Elex Media Komputindo.
Andrew, J., & Cortese, C. (2011). Accounting for climate change and the self-regulation of carbon disclosures. Accounting Forum, 35(3), 130–138. https://doi.org/https://doi.org/10.1016/j.accfor.2011.06.006
Ashrafi, M., Acciaro, M., Walker, T. R., Magnan, G. M., & Adams, M. (2019). Corporate sustainability in Canadian and US maritime ports. Journal of Cleaner Production, 220, 386–397. https://doi.org/https://doi.org/10.1016/j.jclepro.2019.02.098
Ayinla, B. S., Chinedu Ugochukwu Ike, Onyeka Franca Asuzu, Akoh Atadoga, Ndubuisi Leonard Ndubuisi, & Rhoda Adura Adeleye. (2024). Environmental costing and sustainable accounting: A comprehensive review: Delving into methods of accounting for environmental impacts in financial statements. World Journal of Advanced Research and Reviews, 21(2), 235–251. https://doi.org/10.30574/wjarr.2024.21.2.0439
Bebbington, J., & Unerman, J. (2020). Advancing research into accounting and the UN Sustainable Development Goals. Accounting, Auditing & Accountability Journal, 33(7), 1657–1670. https://doi.org/10.1108/AAAJ-05-2020-4556
Budianto, E. W. H., & Dewi, N. D. T. (2023). Pemetaan penelitian rasio Dividend Per Share (DPS) pada perbankan syariah dan konvensional: studi bibliometrik VOSviewer dan literature review. Al-Mal: Jurnal Akuntansi Dan Keuangan Islam, 4(1), 109–126.
Cho, C. H., Laine, M., Roberts, R. W., & Rodrigue, M. (2018). The Frontstage and Backstage of Corporate Sustainability Reporting: Evidence from the Arctic National Wildlife Refuge Bill. Journal of Business Ethics, 152(3), 865–886. https://doi.org/10.1007/s10551-016-3375-4
Christ, K. L., & Burritt, R. L. (2015). Material flow cost accounting: a review and agenda for future research. Journal of Cleaner Production, 108, 1378–1389. https://doi.org/https://doi.org/10.1016/j.jclepro.2014.09.005
DiMaggio, P. J., & Powell, W. W. (1983). The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 48(2), 147–160.
Eccles, R. G., & Krzus, M. P. (2014). The integrated reporting movement: Meaning, momentum, motives, and materiality. John Wiley & Sons.
Elkington, J. (2018). 25 years ago I coined the phrase “triple bottom line.” Here’s why it’s time to rethink it. Harvard Business Review, 25(June), 2–5.
Epstein, M. J. (2018). Making sustainability work: Best practices in managing and measuring corporate social, environmental and economic impacts. Routledge.
Fatmawatie, N. (2017). Tanggungjawab sosial perusahaan. STAIN Kediri Press.
Freeman, R. E., Harrison, J. S., & Zyglidopoulos, S. (2018). Stakeholder theory: Concepts and strategies. Cambridge University Press. https://doi.org/10.1017/9781108539500
Gil-Marín, M., Vega-Muñoz, A., Contreras-Barraza, N., Salazar-Sepúlveda, G., Vera-Ruiz, S., & Losada, A. V. (2022). Sustainability Accounting Studies: A Metasynthesis. Sustainability (Switzerland), 14(15), 1–15. https://doi.org/10.3390/su14159533
Herremans, I. M., Nazari, J. A., & Mahmoudian, F. (2016). Stakeholder Relationships, Engagement, and Sustainability Reporting. Journal of Business Ethics, 138(3), 417–435. https://doi.org/10.1007/s10551-015-2634-0
Kang, H. C., Anderson, R. M., Eom, K. S., & Kang, S. K. (2017). Controlling shareholders’ value, long-run firm value and short-term performance. Journal of Corporate Finance, 43, 340–353. https://doi.org/https://doi.org/10.1016/j.jcorpfin.2017.01.013
Kühnen, M., & Hahn, R. (2018). Systemic social performance measurement: Systematic literature review and explanations on the academic status quo from a product life-cycle perspective. Journal of Cleaner Production, 205, 690–705. https://doi.org/https://doi.org/10.1016/j.jclepro.2018.08.201
Liu, G. (2023). Business students’ experiences, perceptions, and motivations toward business research and information literacy: Ideas for better library practices. Journal of Business & Finance Librarianship, 28(3), 198–226. https://doi.org/10.1080/08963568.2023.2219203
Nazari, J. A., Hrazdil, K., & Mahmoudian, F. (2017). Assessing social and environmental performance through narrative complexity in CSR reports. Journal of Contemporary Accounting & Economics, 13(2), 166–178. https://doi.org/https://doi.org/10.1016/j.jcae.2017.05.002
Oh, C. H., & Oetzel, J. (2022). Multinational enterprises and natural disasters: Challenges and opportunities for IB research. Journal of International Business Studies, 53(2), 231.
Pratama, A., & Febriana, H. (2023). Pengaruh Disiplin Kerja Dan Motivasi Kerja Terhadap Kinerja Karyawan Pada Dinas Perpustakaan Dan Arsip Daerah Kota Tangerang Selatan. EKONOMI BISNIS, 29(1), 47–56.
Prayogi, G. D., & Kurniawan, W. O. (2024). Analisis Pengungkapan Informasi Lingkungan Dalam Laporan Keuangan Pdam Kabupaten Bondowoso: Perspektif Green Economi Dan Tanggungjawab Sosial Perusahaan: Analisis Pengungkapan Informasi Lingkungan Dalam Laporan Keuangan Pdam Kabupaten Bondowoso: PERSPEKTI. Majalah Ekonomi, 29(1), 20–34. https://jurnal.unipasby.ac.id/index.php/majalah_ekonomi/article/view/8838.
Qian, W., Tilt, C., & Belal, A. (2020). Social and environmental accounting in developing countries: In Accounting, Auditing & Accountability. https://doi.org/10.1108/AAAJ-03-2021-5172
Spence, M. S. (1973). Job market signalling. Quarterly Journal of Economics, 90, 225–243.
Stubbs, W., Higgins, C., & Higgins, C. (2018). Stakeholders’ Perspectives on the Role of Regulatory Reform in Integrated Reporting. Journal of Business Ethics, 147(3), 489–508. https://doi.org/10.1007/s10551-015-2954-0
Suchman, M. C. (1995). Managing Legitimacy: Strategic and Institutional Approaches. Academy of Management Review, 20(3), 571–610. https://doi.org/10.5465/amr.1995.9508080331
Sumarto, M. E. J., Rokhim, A., & Muhibbin, M. (2024). Analisis Konsep CSR Dan Sistem Tanggung Jawab Sosial Dan Lingkungan Pada Perseroan Terbatas Yang Berasaskan Keadilan Dan Kepastian Hukum. PERSPEKTIF, 13(2), 498–506. https://doi.org/10.31289/perspektif.v13i2.11226
Tandiono, R., Ratnawati, A. T., Gusneli, G., Ilham, I., Martini, R., Waty, E., Putuhena, H., Mulyadi, A. R., & Devi, E. K. (2023). TEORI AKUNTANSI: Konsep, Aplikasi, dan Implikasi. PT. Sonpedia Publishing Indonesia.
Trice, A., Robbins C., Philip N., & Rumsey, M. (2021). Challenges and Opportunities for Ocean Data to Advance Conservation and Management. Ocean Conservancy. https://oceanconservancy.org/wp-content/uploads/2021/05/Ocean-Data-Report-FINAL.pdf
Tushman, M., & O’Reilly, C. A. (2002). Winning through innovation: A practical guide to leading organizational change and renewal. Harvard Business Press.
Ulum, M. C. (2014). Manajemen bencana: Suatu pengantar pendekatan proaktif. Universitas Brawijaya Press.
Vesterdorf, P. L. (2005). Small and medium-sized enterprises and the European Union. peter vesterdorf.
Victor, D. G., Raustiala, K., & Skolnikoff, E. B. (1998). The implementation and effectiveness of international environmental commitments: Theory and practice. MIT press.
Yadava, R. N., & Sinha, B. (2016). Scoring Sustainability Reports Using GRI 2011 Guidelines for Assessing Environmental, Economic, and Social Dimensions of Leading Public and Private Indian Companies. Journal of Business Ethics, 138(3), 549–558. https://doi.org/10.1007/s10551-015-2597-1