Determinantes dos Papéis dos Conselhos de Administração de Empresas Brasileiras

Neto, Raimundo Marciano de Freitas; Mól, Anderson Luiz Rezende

doi:10.1590/1982-7849rac2017160053

Cited by 4 publications

(1 citation statement)

References 29 publications

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“…According to Dey (2008), CEO duality can lead to decisions not in the interests of shareholders, reduce monitoring and hide important information from other board members. To avoid this problem, the person who is responsible for decision making (the CEO) should be different from the person who monitors it (the board of directors) (Freitas Neto and Mol, 2017). Duality can reduce the intention to voluntarily disclose information because according to the theory of agency, it is difficult for a board to perform its functions when the company does not have an independent leader (Donnelly and Mulcahy, 2008).…”

Section: Environmental Disclosurementioning

confidence: 99%

The influence of boards of directors on environmental disclosure

Fernandes

Bornia

Nakamura

2018

Management Decision

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Purpose -The purpose of this paper is to verify the influence of the characteristics of boards of directors on the level of environmental disclosure by Brazilian companies. The board is one of the main mechanisms of corporate governance and its characteristics can influence the level of environmental disclosure. Design/methodology/approach -The study used a sample of 152 companies listed on the São Paulo stock exchange, the BM&FBovespa. The level of environmental information was obtained by conducting a content analysis of company sustainability reports and websites. The generalized additive models based on negative binomial distribution were used to verify the influence of the characteristics of boards on environmental disclosure. Findings -The results indicate that the number of independent board members had statistical significance, suggesting that board independence can improve the control of the administration and encourage greater environmental disclosure. The age variables showed that environmental disclosure increased on boards with average age up to 60 and then decreased. Originality/value -It is expected that this study will contribute to the literature on corporate governance promotion by producing empiric data about the impacts of the characteristics of boards of directors on the level of environmental disclosure of companies that operate in a country with an emerging economy, Brazil. Another contribution may be related to the process of choosing board members because a board of directors must be composed of members with various characteristics to reduce the asymmetry of information and improve a company's environmental disclosure policies.

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Section: Environmental Disclosurementioning

confidence: 99%

The influence of boards of directors on environmental disclosure

Fernandes

Bornia

Nakamura

2018

Management Decision

View full text Add to dashboard Cite

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Factors affecting corporate environmental disclosure in emerging markets: The role of corporate governance structures

2020

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This study seeks to examine whether internal corporate governance (CG) mechanisms affect corporate environmental disclosure (CED) in emerging economies. Using a sample of 500 firm‐year observations, this study distinctively applies a linear panel quantile regression (PQR) model to examine the CG–CED nexus in Jordan. This technique is supplemented with conducting a two‐step dynamic generalised method of moment (GMM) model to overcome any potential occurrence of endogeneity problems. This study reports an increasing trend in CED practice among the sampled companies over the period of analysis, yet it is still at an early stage as compared with their developed counterparts. Furthermore, this study suggests that board size, board independence, CEO duality and foreign ownership have positive associations with CED. In contrast, managerial ownership, institutional ownership and ownership concentration are negatively associated with the disclosed amount of environmental information in the Jordanian context. Theoretically, board structures appeared to be more efficient than ownership structures in reducing agency conflicts by addressing the asymmetric gap of information and promoting the disclosure of environmental information. These findings add to the debate about whether ownership structures detrimental to CED in developing economies. Specifically, when it comes to spending money on CED, owners seemed to be more concerned about any reductions in their share of the pie and may, therefore, be less motivated to disclose their companies' environmental information. This paper provides managers, owners and policymakers with a set of context‐specific recommendations related to the crucial need for a more concerted effort to integrate governance and environmental regulations in order to ensure sustainability in emerging markets.

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