Do Corporate Environmental Sustainability Practices Influence Firm Value? The Role of Independent Directors: Evidence from Saudi Arabia

Ammer, Mohammed Abdullah; Aliedan, Meqbel; Alyahya, Mansour

doi:10.3390/su12229768

Cited by 39 publications

(25 citation statements)

References 87 publications

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“…In a similar fashion, Kilincarslan, Elmagrhi, and Li [47] conducted a study to ascertain the influence of corporate governance on environmental sustainability reporting and concluded that proxies of corporate governance are positive and have significant influence on companies' environmental sustainability reporting practices. The findings are in like manner to past studies results [2,13,26,30,40,50,52,67].…”

Section: Review Of Extant Literaturesupporting

confidence: 91%

Corporate Governance and Environmental Sustainability Disclosure in Non-financial Companies Quoted in Nigeria

Oyekale¹,

Olaoye²,

Nwaobia³

2022

JFA

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Environmental sustainability performance and its disclosure are not company's primary objectives rather are practices that lift the reputation of company in society. Environmental sustainability disclosure is not mandatory by accounting standards; however, information on environmental sustainability is of interest to various stakeholders for informed decision making. Financial reporting does not provide sufficient information for stakeholders to make an informed decision. It is with a view to addressing this concern that the study investigated the impact of corporate governance on environmental sustainability disclosure of non-financial companies quoted in Nigeria. Ex-post facto research design was adopted for the study. The population was 109 non-financial companies quoted in Nigeria as at 31 December, 2020. Stratified and purposive sampling techniques were used to select a sample of 72 non-financial companies that were in existence for a period of 9 years, 2012 to 2020. Data were extracted from published annual reports of the sampled non-financial companies and validated by certification of external auditors and the Nigerian Stock Exchange. Data were analyzed using descriptive and multiple regression analysis. The study found that the combined effect of corporate governance (CG) had a significant effect on environmental sustainability disclosure (END) (Adj. R 2 = 0.1783, F(6, 641) = 170.58, ρ = 0.00). The separated effects were varied. Board Independence (BOI), Nomination Committee (NOC), and Sustainability Responsibility Committee (SRC) have a positive and significant effect on END (BOI=0.0031, t-test=5.28, ρ = 0.001; NOC=0.1391, t-test=3.50, ρ = 0.008; SRC=0.6165, t-test=6.68, ρ = 0.000). Risk Committee (RIC) and Remuneration Committee (REC) have a positive and insignificant effect on END (RIC=0.0519, t-test=1.61, ρ = 0.147; REC=0.0083, t-test=0.020, ρ = 0.849) while Board Meetings has a negative and insignificant effect on END (BOM=-0.0016, t-test=-0.27, ρ = 0.792). The study concluded that corporate governance enhanced environmental sustainability disclosure of non-financial companies quoted in Nigeria. The study recommended that management should institute sound corporate governance mechanisms, especially a sustainability responsibility committee to enable improved environmental sustainability practices and their disclosure.

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Section: Review Of Extant Literaturesupporting

confidence: 91%

Corporate Governance and Environmental Sustainability Disclosure in Non-financial Companies Quoted in Nigeria

Oyekale¹,

Olaoye²,

Nwaobia³

2022

JFA

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Section: Theoretical Background and Hypothesis Researchmentioning

confidence: 99%

“…When focal firms implement proactive environmental protection strategies and create green environmental values, cooperation with suppliers and consumers is necessary (Ammer et al, 2020). The green environmental value of sustainable development is generated during the consumption of products or services, so suppliers must provide green supplies to generate green value (Vargo and Lusch, 2008).…”

Section: Green Innovation and Value Cocreationmentioning

confidence: 99%

Are consumers willing to co-create value when focal firms' suppliers are proactive in green innovation? A chain liability and green halo effect

Yao,

Liang,

Feng

et al. 2023

IJPDLM

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PurposeBased on the chain liability and green halo effects, this study uses the perspective of multi-tier supply chain management to examine the impact mechanism and boundary conditions of suppliers' green innovation types on consumers' willingness to participate in value co-creation with focal firms from the perspective of multi-tier supply chain management.Design/methodology/approachUsing four situational experiments, 660 participants were recruited in Credamo, and SPSS 23.0 was used for data analysis. Experiments 1a and 1b verify the effect of suppliers' green innovation on consumers' willingness to participate in value co-creation with focal firms; experiment 2 examines the mediating effect of green sincerity perception; and experiment 3 explores the moderating effect of innovation proactiveness.FindingsThe results show that suppliers' green innovation efforts are more sincere when they are substantive (vs. symbolic), thereby generating higher value co-creation intentions. As a driving force, innovation proactiveness moderates the influence of suppliers' green innovation types on consumer's willingness to co-create value with focal firms.Originality/valueThis study enriches the literature on green supply chain management (GSCM) and consumers' willingness to co-create value. Furthermore, this study provides firms with practical guidance to improve marketing performance and green innovation practices through multilevel GSCM.

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“…In achieving sustainable performance, all parts of an organization have to be involved, starting from the low-level management to the highlevel management, including stakeholders. Sustainable performance mostly depends on corporate governance quality because effective corporate governance will maintain the trust of stakeholders (Ammer et al, 2020). This will be useful in obtaining prospective investors and realizing the future goals of an organization.…”

Section: Introductionmentioning

confidence: 99%

A Systematic Review of Corporate Governance and Sustainability Performance: Pre- And Post- Sustainable Development Goals Adoption Period

2022

MAR

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Corporate governance has progressed beyond just saving money or maintaining a good reputation; it is also aims to integrate company values with the sustainability agenda. The top management of most companies is beginning to perceive the sustainability agenda as necessary. Hence, this study aimed to examine the impact of corporate governance on the sustainability performance of firms during the pre-and post-Sustainable Development Goals (SDGs) adoption periods. The researchers critically selected, identified, organized, and analysed the data from WoS and Scopus based on the keyword of this study. After screening the data, about 78 publications were chosen, of which 60 publications were from Web of Science (WoS), and 18 publications are from Scopus. The result found that the impact of corporate governance on sustainability performance revealed a 96% positive relationship and 4% negative relationship between corporate governance and sustainability performance. The outcome of the systematic literature review of corporate governance and sustainable performance indicated a pattern that can be used by organizations and researchers to improve research quality and fill the gaps from past research.

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Do Corporate Environmental Sustainability Practices Influence Firm Value? The Role of Independent Directors: Evidence from Saudi Arabia

Cited by 39 publications

References 87 publications

Corporate Governance and Environmental Sustainability Disclosure in Non-financial Companies Quoted in Nigeria

Corporate Governance and Environmental Sustainability Disclosure in Non-financial Companies Quoted in Nigeria

Are consumers willing to co-create value when focal firms' suppliers are proactive in green innovation? A chain liability and green halo effect

A Systematic Review of Corporate Governance and Sustainability Performance: Pre- And Post- Sustainable Development Goals Adoption Period

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