摘要：Research Aims: The article was written with the intention to inspect the amplified impact of CSR disclosure by choosing women on the boards of directors in the companies on investment inefficiency. Design/Methodology/Approach: The sample studies were non-financial companies listed on IDX during 2018-2019 that published sustainability and annual reporting. Research Finding: This research revealed that, in the latest two years, overinvestment was done by most of the sample companies (76%). Hereafter, there was a negative effect on investment inefficiency due to the increasing corporate social responsibility disclosure. Nevertheless, women on the board of directors had no effect as moderating variable. Theoretical Contribution: This study adds literature on investment inefficiency issues, especially on amplifying the influence of corporate social responsibility disclosure on investment inefficiency by choosing women on the board of directors. Research Limitation: Very limited position on the board of directors for women in companies causes it to have no effect as a moderating variable. Moreover, this research did not categorize investment efficiency in the overinvestment and underinvestment schemes.
