Assessing the impact of financing decisions and ownership structure on green accounting disclosure: Evidence from developing economies

Chang, Guanghui; Osei Agyemang, Andrew; Faruk Saeed, Ummar; Adam, Ibrahim

doi:10.1016/j.heliyon.2024.e26672

Heliyon

2024

DOI: 10.1016/j.heliyon.2024.e26672

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Assessing the impact of financing decisions and ownership structure on green accounting disclosure: Evidence from developing economies

Guanghui Chang,

Andrew Osei Agyemang,

Ummar Faruk Saeed

et al.

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2024

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Cited by 8 publications

References 61 publications

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Advancing Sustainable Development Goal 15: The Role of Corporate Governance Structures and Environmental Regulations in Emerging Economies

Saeed,

Ning,

Agyemang

2024

Sustainable Development

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This study advances the literature on sustainable development, corporate governance, and environmental management by examining the interplay between governance structures (GS) and biodiversity disclosure (BD) in alignment with Sustainable Development Goal 15. Grounded in institutional, legitimacy, and stakeholder theories, we investigate how various GS influence firms' commitment to biodiversity reporting in sub‐Saharan Africa, while also considering the moderating role of environmental regulations. Utilizing panel data from 386 environmentally sensitive manufacturing firms between 2010 and 2022, we employ the two‐step system generalized method of moments (GMM) modeling, as proposed by Blundell and Bond and addressed potential endogeneity issues through instrumental variable two‐stage least squares (IV‐2SLS), propensity score matching, and lagged effect estimations. Our findings reveal that board diversity, particularly gender diversity and the presence of foreign nationals, positively impacts BD. Additionally, structural attributes such as board size and independence enhance BD, while CEO duality negatively affects this outcome. Furthermore, a positive relationship is observed between the frequency of board meetings and BD, yet a negative association exists with meeting attendance. Notably, environmental regulations not only increase BD, but significantly enhance the effect of GS on BD. These findings provide valuable insights for policymakers and stakeholders, contributing to the discourse on Sustainable Development Goal 15 by advocating for stronger governance frameworks to bolster biodiversity conservation and environmental stewardship in emerging economies.

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Advancing Sustainable Development Goal 15: The Role of Corporate Governance Structures and Environmental Regulations in Emerging Economies

Saeed,

Ning,

Agyemang

2024

Sustainable Development

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Net‐Zero Transition Pathways in Belt and Road Economies: Insights From Threshold Effects and Heterogeneous Analysis

Kamil,

Saeed,

Essel

et al. 2024

Environmental Quality Mgmt

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Given the pressing need for economies to mitigate climate change and champion carbon neutrality, this study investigates the threshold effects of financial development and foreign direct investment (FDI) on carbon dioxide (CO₂) emissions in Sub‐Saharan Africa (SSA) within the Belt and Road Initiative (BRI) bloc, taking into account the moderating role of the regulatory environment. Drawing on the environmental Kuznets curve and the pollution haven hypothesis, the study utilizes the dynamic generalized method of moments (GMM) modeling, proposed by Arellano and Bover, to analyze panel data from 37 SSA countries spanning 1990–2022. The findings reveal that financial development in the banking, financial, and private sectors, along with FDI outflows, is associated with a reduction in CO₂ emissions. Conversely, FDI inflows are linked to increased CO₂ emissions. A curvilinear relationship is observed, where initial increases in financial development and FDI correlate with higher emissions, which decline beyond a certain threshold. Stronger regulations enhance the positive impact of financial development on reducing CO₂ emissions. Finally, the findings show a significant heterogeneous effect across the SSA regional blocs. These findings underscore the critical need for implementing stringent environmental regulations and promoting sustainable financial practices to mitigate negative environmental impact. This research provides both theoretical and practical insights into fostering a carbon neutrality agenda and advancing Sustainable Development Goal 13.

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Navigating Carbon Peaking and Neutrality in MENA: The Impact of Foreign Direct Investment and Trade Openness Using Panel PCSE and FGLS Techniques

Saeed,

Twum,

Klugah

2024

Environmental Quality Mgmt

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In response to the global challenge of climate change and the drive towards carbon neutrality, this study investigates the effects of foreign direct investment (FDI) and trade openness (TO) on carbon emissions (CEM) within the Middle East and North Africa (MENA) region. The research spans 18 countries from 1990 to 2022, focusing on Sustainable Development Goal 13. Utilizing Porter's hypothesis and the Environmental Kuznets Curve (EKC) theory, the study applies quantitative methods including panel corrected standard errors (PCSE) and feasible generalized least squares (FGLS) to ensure robustness. To address potential endogeneity, two‐stage least squares and lagged effect estimations are employed. The findings reveal that both FDI and TO are associated with reduced CEM, indicating positive environmental impacts. Also, the pairwise causality tests show bidirectional causality between FDI, TO, and CEM, while a unidirectional causality is found from industrialization (IND) and energy consumption (EC) to CEM. These results underscore the importance of integrating FDI and TO into strategies for achieving carbon neutrality and advancing sustainable development goals, offering actionable insights for policymakers.

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Assessing the impact of financing decisions and ownership structure on green accounting disclosure: Evidence from developing economies

Cited by 8 publications

References 61 publications

Advancing Sustainable Development Goal 15: The Role of Corporate Governance Structures and Environmental Regulations in Emerging Economies

Advancing Sustainable Development Goal 15: The Role of Corporate Governance Structures and Environmental Regulations in Emerging Economies

Net‐Zero Transition Pathways in Belt and Road Economies: Insights From Threshold Effects and Heterogeneous Analysis

Navigating Carbon Peaking and Neutrality in MENA: The Impact of Foreign Direct Investment and Trade Openness Using Panel PCSE and FGLS Techniques

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