The effecT of commissioners Board size and commiTTee Board size on disclosure of corporaTe social responsiBiliTy ( csr)

This study aims to analyze the effect of board size and committees size to corporate social responsibility through financial performance. The sample used in this study is secondary data of companies listed LQ-45 Index in 2013-2017 and determined using a purposive sampling method. The data about research variables are available in the financial report. The data analysis method is using path analysis. The results were showed that the size of commissioners board to corporate social responsibility was significant positive, size of committees to corporate social responsibility was significant positive relationship, size of commissioners board to financial performance was significant positive relationship, size of committees to financial performance was relationship positive significant, financial performance to corporate social res ponsibility shows a significant positive relationship.


inTroducTion
The capital market has a very important role for companies outside the banking sector. This is related to the two functions which carried out by the capital market, namely the function of the economy and financial functions.
The role of the capital market in economic functions is as a liaison between the provider of funds (investors) with users of funds (issuers or companies going public). Whereas the role of the capital market in financial functions is indicated by parties who have excess funds can invest in the hope of getting a return (return), and then the company can use the funds as a support for the company's operations. According to Sawir (2005), a capital market is a place for companies to collect the capital by offering stock to the public.
The companies which listed on the stock exchange generally get higher demands from the investors to make information disclosure widely. The need for this information cannot be fulfilled only with mandatory disclosures, but companies also need to disclose more information in a social responsible manner.
Through disclosure of social responsibility, management can demonstrate the performance of the company and provide information that is appropriate for users (Subroto;. According to Subroto (2004), one of the important issues in the capital market is about disclosure of financial statements that are always changing along with the development of the capital market. This disclosure is important because the financial statements are one of the main information in achieving capital market efficiency and it is a means of public accounting. Subroto (2004), also states that disclosures in financial reporting have an important meaning in making investment decisions. According to Wulandari and Atmini (2012), disclosure is needed by investors, because with the disclosure, the risk of the information that is faced will be reduced. The reduced of the risk of the information can increase the security for investors to invest in certain public company securities, Wulandari and Atmini (2012). Disclosure of information about social responsibility by the company aims to get more value in making investment decisions or other business decisions made by investors, creditors, and other market participants. The willingness of companies to disclose social responsibility is also one of the ways that managers can do to increase the value and credibility of companies in public view (Huda and Heykal, 2006).
According to Hackston and Milne (1996), corporate social responsibility is often called as corporate social reporting, social accounting, social disclosure or corporate social responsibility, is the process of communicating the social and environmental impacts of an organization's economic activities towards specific groups of interests and the society as a whole. According to Untung (2008), the main reason for social disclosures carried out in corporate responsibility is that investors can make an informed decision in making investment decisions. This is also done by the company to obtain an added value for the community around the company including the use of social resources. and responsibility for products as a basis for sustainability. The law does not explain in detail how CSR is carried out and reported in the annual report so that the implementation of the company is impressed only to comply with regulations. In fact, investors appreciate CSR information disclosed in the company's annual report, which means that the number of investors can increase (Sayekti et al .;. The implementation of good corporate governance is needed in order to build public and international trust as an absolute condition for good and healthy business development efforts. Cadburry Report (1992), defines corporate governance as the principle that directs and controls the company in order to achieve a balance between the strength and authority of the company in providing accountability to particular shareholders and stakeholders in general. Shleifer and Vishny (1997), in Darmawati et al. (2005), interpreted corporate governance as ways that are used with the aim of giving confidence to suppliers of company funds so that companies will get a return on the funds they invest. The Forum for Corporate Governance in Indonesia (FCGI;2002) defines corporate governance as a system that directs and controls a company.
The board of commissioners acts as the highest internal control mechanism and it is collectively responsible for supervising and providing input to directors and ensuring that the company has implemented good corporate governance based on applicable rules (KNKG, 2006 order to achieve its objectives is financial performance (Pertiwi and Pratama, 2010). The effectiveness of an organization can be realized if the management has the ability to choose the right tool to achieve the stated goals. While efficiency is interpreted as a ratio (ratio) between input and output, where the company expects optimal output for the business activities it runs.
The company's financial performance does not always describe a positive trend, therefore measurement of financial performance is needed by analyzing the company's financial statements using existing financial ratios. Ridwan and Barlian (2003), revealed that financial performance information is needed to assess potential changes in economic resources that are possible to be controlled in the future and to predict the production capacity of existing resources. The results of financial report analysis are needed by the management of the company as a basis for making decisions regarding the survival of a company.
Ratio analysis based on the company's financial report data can provide benefits including knowing the financial results that have been achieved by the company in the past and can know the weaknesses that the company has and the results are considered good enough for the company (Ridwan and Barlian;2003).
The results of measuring the performance of financial ratios can be used as the basis for the company's management in making decisions related to reward, punishment, and improving performance in the next period and it can cre-ate corporate value for its stakeholders.

Types of research
This research is explanatory research that aims to obtain clarity of phenomena that occur in the empirical world (real world) and try to get answers (verificative) in order to explain the causal relationship between the research variables through data analysis in order to test the hypothesis. The quantitative approach is used during the testing research theory through data analysis with statistical procedures.

Types and Data Sources
The type of data used in this study is secondary data, namely data obtained through a review of several kinds of literature relating to the issues raised and from relevant theoretical references (books, bulletins, journals, magazines, newspapers, and websites). While the data used in this study is secondary data in the form of annual reports issued by companies and registered on the Indonesia Stock Exchange LQ-45 Index for the 2013-2017 period.
The annual financial report originates from the Indonesia Stock Exchange website (www.idx. co.id) and the company's website which is the research sample.

Research Population and Samples
The population used in this study are

Data analysis method
This path analysis is used to analyze the causal relationship between variables and hypothesis test in this study. By using path analysis, estimation of causal influences between variables will be carried out and the position of each variable in the path directly or indirectly. If there is a path that is not significant then the trimming theory is applied. This theory is done by removing or deleting paths that are not significant. The significance of the model can be seen from the beta coefficient (β) which is significant for the pathway (Akdon & Riduwan, 2007). The path diagram and path coefficient will be showed belows:

Calculating Path
Path calculation is used to explain the effect of earning assets, temporary syirkah funds, and liabilities. The influence of the three variables can directly or indirectly affect the financial performance of the company. If the calculated path is not significant, then the trimming theory is carried out. If you already done the trimming theory, next is recalculate each of the path coefficients. The path analysis model (Akdon & Riduwan, 2007) will be explained as follows :

a. Trimming Model Path Analysis
Trimming theory is a model used to correct a path analysis structure model by removing from the exogenous (independent) variable model which path coefficient is not significant (Akdon & Riduwan, 2007 IEY 2 Y 1 X 2 = X 2 →Y 1 → Y 2 resulTs and discussion

Description of Research Samples
The sample used in this study was selected using purposive sampling, which aims to obtain companies that were suitable for the purposed of the study. The sample criteria must be listed in the LQ45 Index in a row, the sample must also present the data needed in the study, in this case, the data regarding to the company's

Path Analysis
Path analysis is used to analyze the causal relationship between variables and hypothesis test in this study mathematically. The results of the path analysis were presented in the figure as follows:

Corporate Social Responsibility
The results of path analysis on the t-test of the first hypothesis (H1) can be seen in Table 3  supervisor. According to KNKG (2006), the board of commissioners has the authority to regulate and monitor the highest internal control mechanisms and it was collectively responsible for supervising and providing input to the directors and ensuring that the company implements GCG properly.
A strong influence can be given by the board of commissioners by pressing the management to disclose their social information extensively in order to realize corporate accountability.
The greater of commissioners board size, better supervision will be made by the management of the company. Good supervision was expected to expand the disclosure of Corporate Social

Responsibility (CSR) in meeting stakeholders'
information needs and to minimize information that can be hidden by company management. The support of these stakeholders helps the company to maintain the survival of the company.
The results of this study were in line with previous research conducted by Khoirudin (2013), which states that the Commissioners Board size has a positive effect on Corporate Social Responsibility.
The results of path analysis on the t-test of the second hypothesis (H2) can be seen in Table   3 that the Committee Board Size influences the Corporate Social Responsibility by looking at the significance level of 0.018. The relationship shown by the regression coefficient was positive, meaning that the Commissioners board size increase, Corporate Social Responsibility will be increased (H2 is accepted).
As one of the corporate governance mechanisms, the audit committee can influence the disclosure of corporate social responsibility.
The audit committee was a committee that has the role of assisting the commissioner or supervisory board in ensuring the effectiveness of the internal control system and the implementation of tasks from internal and external auditors (Alijoyo and Zaini, 2004). The task of the audit committee was to review the company's compliance with the applicable laws and regulations in the field of capital markets and other regulations relating to company activities and to provide independent and professional opinions on aspects of compliance, control, risk management from internal audit activities and external (Alijoyo and Zaini, 2004).
The company sought to focuse on participating in implementing the principles of good corporate governance as a form of accountability to the community and shareholders. Based on agency theory, principals will try to find information and provide intensive to ensure agent responsibility for company ownership. The audit committee that was responsible for financial statements, corporate governance, and corporate supervision was expected to be able to meet the information needs of the principal. Principles measure the level of results obtained from an agent's business based on the information obtained.
The agency costs incurred by the company can be reduced along with the tight supervision carried out by the audit committee.
The results of this study were in line with previous research conducted by Fatimah et al. (2016), which state that the Committee Board

Size has a positive effect on Corporate Social
Responsibility So it can be concluded that the Size of the Board of Commissioners has a positive influence on Corporate Social Responsibility.

Performance
The results of the path analysis in the t-test for the third hypothesis (H3) can be seen in Table   3  supervisor. According to KNKG (2006), the board of commissioners has the authority to regulate and monitor the highest internal control mechanisms and it was collectively responsible for supervising and providing input to the directors and ensuring that the company implements GCG properly.
A strong influence can be given by the board of commissioners by pressing the management to disclose their social information extensively in order to realize corporate accountability. The results of this study were in line with previous research conducted by Khoirudin (2013), which states that the Commissioners Board size has a positive effect on Corporate Social Responsibility.

So it can be concluded that Commissioners Board
size has a positive effect on Corporate Social Responsibility.

Performance
The results of path analysis on the t-test of the fourth hypothesis (H4) can be seen in Table 3 that the Commissioners Board size influences Financial Performance by looking at the significance level of 0.028. The relationship shown by the regression coefficient was positive, means that the Commissioners Board size increase, Financial Performance will increase (H4 is accepted).
The audit committee was a committee that has the role of assisting the commissioner or supervisory board in ensuring the effectiveness of the internal control system and the implementation of tasks from internal and external auditors (Alijoyo and Zaini;. The task of the audit committee was to review the company's compliance with the prevailing laws and regulations in the field of capital markets and other regulations relating to company activities and to provide independent and professional opinions on aspects of compliance, control, risk management from internal audit activities and external (Alijoyo and Zaini;.
Based on agency theory, principals will try to find information and provide intensive to ensure agent responsibility for company ownership. The audit committee that was responsible for financial statements, corporate governance, and corporate supervision was expected to be able to meet the information needs of the principal. The Principal will measure the level of results obtained from the agent's business based on the information obtained.
The agency costs incurred by the company can be reduced along with the tight supervision carried out by the audit committee.
The results of this study were in line with previous research conducted by Fatimah et al. (2016), which state that the Committee Board Size has a positive effect on Financial Performance. So

it can be concluded that the Commissioners Board
Size has a positive effect on Financial Performance.

Social Responsibility
The results of path analysis on the t-test of the fifth hypothesis (H5) can be seen in Table   3  a company. High profitability illustrates that companies can bear higher costs for disclosing extensive information on social responsibility reports. Companies were encouraged to disclose more detailed information in their annual reports in order to reduce political costs and show the company's financial performance to the public if the company has high profits so that it has full power to implement a policy.
The term profitability was commonly referred to as economic performance in several studies. Profitability can be measured using several methods, including profit margin, return on assets (ROA), return on equity (ROE), and payout ratio (Brealey et al .;. The higher the level of profitability of the company, the greater the disclosure of Corporate Social Responsibility (CSR) conducted by the company. In line with the theory of stakeholders, which states that a company was not an entity that only operates for its own sake but must be able to provide benefits to its stakeholders.
The results of this study were in line with previous studies conducted by Othman et al (2009) which states that Financial Performance has a positive effect on Corporate Social Responsibility.