Determinants of corporate environmental disclosures in Sri Lanka: the role of corporate governance

Nuskiya, M.N.F.; Ekanayake, Athula; Beddewela, Eshani; Gerged, Ali Meftah

doi:10.1108/jaee-02-2020-0028

Cited by 51 publications

(84 citation statements)

References 123 publications

(319 reference statements)

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“…This was also found to be significant by Farber (2005), whilst Owens-Jackson et al (2009) provided weak evidence of this in similar studies. This comes as no surprise, as larger audit firms are argued to give higher quality audits (Astami et al , 2017; BenYoussef and Drira, 2020; Bhuiyan and D’Costa, 2020; Chan et al , 2020; Elamer, 2019b, 2019a; El-Dyasty and Elamer, 2021; Eshleman and Guo, 2014; Gerged et al , 2020; Ji et al , 2015; Nuskiya et al , 2021; Owusu et al , 2020; Zeng et al , 2020). Further to this, Sundgren and Svanstrom (2012) argue smaller audit firms receive more sanctions due to poorer audit quality, which coincides with the results above.…”

Section: Resultsmentioning

confidence: 99%

Audit committee diversity and corporate scandals: evidence from the UK

McLaughlin

Armstrong

Moustafa

et al. 2021

IJAIM

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Purpose This paper aims to empirically analyse specific characteristics of an audit committee that could be associated with the likelihood of corporate fraud/scandal/sanctions. Design/methodology/approach The sample includes all firms that were investigated by the Financial Reporting Council through the audit enforcement procedure from 2014 to 2019, and two matched no-scandal firms. It uses logistic binary regression analysis to examine the hypotheses. Findings Results based on the logit regression suggest that audit member tenure and audit committee meeting frequency both have positive associations to the likelihood of corporate scandal. Complementing this result, the authors find negative but insignificant relationships amongst audit committee female chair, audit committee female members percentage, audit committee qualified accountants members, audit committee attendance, number of shares held by audit committee members, audit committee remuneration, board tenure and the likelihood of corporate scandal across the sample. Research limitations/implications The results should help regulatory policymakers make decisions, which could be crucial to future corporate governance. Additionally, these results should be useful to investors who use corporate governance as criteria for investment decisions. Originality/value The authors extend, as well as contribute to the growing literature on the audit committee, and therefore, wider corporate governance literature and provide originality in that it is the first, to the knowledge, to consider two characteristics (i.e. remuneration and gender) in a UK context of corporate scandal. Also, the results imply that the structure and diversity of the audit committee affect corporate fraud/scandal/sanctions.

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Section: Resultsmentioning

confidence: 99%

Audit committee diversity and corporate scandals: evidence from the UK

McLaughlin

Armstrong

Moustafa

et al. 2021

IJAIM

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“…This paper seeks to contribute to the research on the trends and determinants of corporate social responsibility (CSR) disclosure in the context of developing countries and emerging economies (Petera et al 2019;Ahmad et al 2018;Matuszak et al, 2019;Sorour et al 2021;Khan et al, 2020;Nuskiya et al, 2021). CSR disclosure has become increasingly widespread (KPMG, 2020) from the perspective of more companies engaging with particular international reporting models/approaches (e.g., Global Reporting Initiative (GRI), Integrated Reporting (IR), Sustainable Development Goals Reporting, Sustainability Accounting Standards Board), and addressing a wider range of social and environmental themes.…”

Section: Introductionmentioning

confidence: 99%

The evolution and determinants of corporate social responsibility (CSR) disclosure in a developing country: extent and quality

Soobaroyen

Ramdhony

Rashid

et al. 2022

JAEE

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PurposeThis paper examines the evolution and determinants of the extent and quality of corporate social responsibility (CSR) disclosure in a developing country (Mauritius).Design/methodology/approachCSR disclosures from annual reports of all listed companies were hand-collected for a 12-year period (2007–2018). The extent of disclosure was measured using a dichotomous index (41 items) while the quality of each disclosure item was assessed on a three-point scale. We rely on organisational legitimacy and resource dependence theories to investigate (1) trends in CSR disclosure extent and quality (2) the role of selected board and firm characteristics, namely the business qualifications of board members, extent of cross-directorships and the firm’s use of employee volunteering scheme, on CSR disclosure.FindingsCSR disclosure extent, notably in relation to environment and human resources, gradually increased to an overall score of 45%. Comparatively, the quality of disclosures was low, with an average score of 20%. The proportion of business-qualified directors is only positively associated with CSR disclosure extent. The extent of cross-directorships is negatively associated with CSR disclosure quality while employee volunteering is positively associated with disclosure extent and quality.Originality/valueThe findings reveal the relatively low quality of information being disclosed, and in spite of CSR and governance reforms, there seems to be limited influence from the board of directors and their networks; prompting a call to foster greater board engagement on CSR matters. The results also highlight the need for a multi-dimensional assessment of CSR disclosure.

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“…Thus their ability to effectively monitor the company management on behalf of the shareholders is limited. Previous empirical literature found that the busyness of directors can negatively affect a firm’s financial performance (Haniffa and Hudaib, 2006; Non and Franses,2007; Jackling and Johl, 2009; Niblaeus and Sellman, 2011; Cashman et al , 2012; Roudaki and Bhuiyan, 2015; Lusiana et al , 2020; Saleh et al , 2020; Latif et al , 2020; and Nuskiya et al , 2021), lower the sensitivity of CEO turnover to performance, manifest in a positive market reaction following the departure of a busy director (Fich and Shivdasani, 2006), lead to excess remuneration of CEOs (Core et al , 1999; Shivdasani and Yermack, 1999; Andres et al , 2013), lower board meeting attendance (Jiraporn et al , 2009) and increase the likelihood of committing accounting fraud (Beasley, 1996).…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Do multiple directorships stimulate or inhibit firm value? Evidence from an emerging economy

Al‐Haddad

Gerged

Saidat

et al. 2022

IJAIM

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Purpose This study aims to examine the potential influence of multiple directorships (MDs) on the firm value of listed firms in Jordan. Design/methodology/approach Using a sample of 1,067 firm-year observations of Jordanian listed companies from 2010 to 2020, this study applies a pooled ordinary least squares regression model to examine the above-stated relationship. This technique was supported by conducting a generalized method of moments estimation to address the possible occurrence of endogeneity concerns. Findings The results show a significant negative relationship between MDs and firm performance, thereby supporting the “Busyness Hypothesis”, which suggests that directors with MDs are expected to be over-committed, too busy and less vigilant. Thus, their ability to effectively monitor the company management on behalf of the shareholders is quite limited. Originality/value To the best of the authors’ knowledge, this is the first study in Jordan, and one of the very rare studies in the Middle Eastern and North African region, to examine the relationship between MDs and firm performance. This study provides important policy and practitioner implications in the field of corporate governance by highlighting the necessity of imposing stricter limits on the number of directorships allowed for board directors. Crucially, the empirical evidence implies that limited directorships ensure that directors are able to fulfil their board responsibilities appropriately, which is significantly associated with the firm value.

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Determinants of corporate environmental disclosures in Sri Lanka: the role of corporate governance

Cited by 51 publications

References 123 publications

Audit committee diversity and corporate scandals: evidence from the UK

Audit committee diversity and corporate scandals: evidence from the UK

The evolution and determinants of corporate social responsibility (CSR) disclosure in a developing country: extent and quality

Do multiple directorships stimulate or inhibit firm value? Evidence from an emerging economy

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