Data-centric risk management practices: A comparative study between Brunei and Indonesia
PUPUNG PURNAMASARI

Universitas Islam Bandung

Abstract

This paper examines the impact of Women in Board (WIB) on the earnings per share (EPS) of banks in Indonesian and Bruneian from 2010 to 2022, specifically examining the moderating role of Cybersecurity Disclosure (CSD) in this relationship. Through manual content analysis of annual reports from Indonesian and Bruneian banks and regression analysis, this study assesses the influence of WIB on bank performance, focusing on the interplay with CSD. Key control variables include audit quality, financial leverage, bank age, and size. Results show a negative correlation between WIB and EPS, indicating that increased representation of women on boards does not necessarily equate to improved financial outcomes, potentially reflecting deeper systemic issues. Conversely, a positive interaction between WIB and CSD on EPS was found, suggesting that robust cybersecurity practices can counteract the negative financial impacts of board gender diversity. Despite this positive interaction, the predominant relationship between WIB and EPS remains negative, highlighting the complex nature of gender dynamics in corporate governance. This study uniquely combines the examination of gender diversity and cybersecurity practices in the financial sector, offering fresh perspectives on how these elements together affect corporate governance and financial performance. This research underscores the importance of considering cybersecurity as a strategic factor that can positively influence the financial repercussions of board diversity.

Keywords: Gender dynamics, financial performance, cybersecurity disclosure, EPS, Indonesian and Bruneian.

Topic: Economic Welfare in Terms of Islamic Perspective