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Table 7 Results of Man Whitney U - Ranks Test
OWNER N Mean Rank Sum of Ranks

EAR SOEs 154 165.32 25459.00
Non-SOEs 140 127.90 17906.00
DAR SOEs 154 131.90 20312.50
Non-SOEs 140 164.66 23052.50
ROA SOEs 154 138.21 21285.00

Non-SOEs 140 157.71 22080.00
ROE SOEs 154 128.78 19832.50
Non-SOEs 140 168.09 23532.50

Table 7 (Cont.) Test Statistics

OWNER EAR DAR ROA ROE
Mann-Whitney U 8036 8377.5 9350 7897.5
Wilcoxon W 17906 20312.5 21285 19832.5
Z -3.769 -3.300 -1.964 -3.959
Asymp. Sig. (2-tailed) .000 .001 .050 .000
a. Grouping Variable: OWNER

4.8. SOEs and Non-SOEs Sustainability Report
Based on the T-test, it can be seen that the average SOEs that made sustainability reports were 65% and 36% for
non-SOEs. This shows that more sustainability reports are disclosed by SOEs than non-SOEs companies. Disclosure
specifically regarding the sustainability report is not as much about corporate governance and corporate social
responsibility (CSR). This may be because sustainability reports are not yet mandatory, so often companies do not
disclose them specifically. For example, sustainability reports on environmental aspects, work safety, concern for the
community, are included in the CSR report.

This sustainability report does not always reflect that companies that make sustainable reports always have good
performance. This is because those who do not report specifically, they still disclose environmental and social aspects
in the CG and CSR reports. Meanwhile, this research only measures sustainability based on whether or not there is a
special report on sustainability.

Table 8 T-test results
OWNER N Mean Std. Deviation Std. Error Mean

SUST_R Mann-Whitney U 140 .63 .485 .041
Wilcoxon W 154 .36 .483 .039

Levene’s Test for Equality t-test for Equality of Means
of Variances
95% Confidence Interval
of the Difference
Mean Std. Error
F Sig. T df Sig. (2-tailed) Lower Upper
Difference Difference
SUST_R A*) ,076 ,783 4,69 292 ,000 ,265 ,056 ,154 ,376
B*) 4,68 289 ,000 ,265 ,056 ,154 ,376
A*) : Equal variances assumed, B*): Equal variances not assumed

International Conference on Sustainability 197
(5 Sustainability Practitioner Conference)
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