Technology-Driven Governance: Advancing CSR Practices in LQ45 Companies †

Abstract

This study explores the influence of governance structures board diversity, public shareholding, and managerial ownership on CSR disclosure among LQ45 companies in Indonesia during 2021–2023. Using panel data regression analysis, the research identifies significant relationships between these governance variables and CSR practices. The study highlights the critical role of board diversity in fostering inclusivity and aligning corporate strategies with societal expectations, supported by stakeholder and legitimacy theories. Public shareholding and managerial ownership also play pivotal roles in enhancing transparency and aligning managerial incentives with organizational goals. The integration of advanced technologies, such as blockchain and AI, is discussed as a means to improve CSR practices through enhanced transparency and efficiency. These findings provide actionable insights for policymakers, corporate leaders, and investors, emphasizing the need for inclusive governance and technological innovation to advance sustainable business practices.