**Acknowledgements**

Susilaningtyas B. Kurniawati is a doctoral student in the Doctoral Program in Economics, Faculty of Economics and Business, Universitas Sebelas Maret.

Hasan Fauzi, PhD., is a Professor in Accounting & CSR, Accounting Department, Faculty of Economics and Business, Universitas Sebelas Maret, and Director of Indonesian Center for Social and Environmental Accounting Research and Development (ICSEARD). He is currently also as Deputy Chairman of the Board of Trustees, Universitas Sebelas Maret.
