Sustainable or not sustainable? The role of the board of directors

Chams, Nour; García-Blandón, Josep

doi:10.1016/j.jclepro.2019.04.118

Cited by 142 publications

(179 citation statements)

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“…Ferrero-Ferrero et al [43] examine generational diversity (defined by the year that someone is born) on boards of directors and CSR, and while no evidence of a direct effect of generational diversity on CSR performance (measured using Asset4 data) was found, they do find evidence for their hypothesis that generational diversity positively affects CSR performance by means of CSR management quality. While not focused on generational difference, Chams and Garcia-Blandon [44] also consider the impact of directors' age on sustainability performance to find a curvilinear relationship between age with sustainability performance, whereby sustainable practices first increase with age but then decrease as the age of directors rises.…”

Section: The Effects Of Board Diversity On the Sustainability Performmentioning

confidence: 99%

“…Investigations into other elements of diversity are underdeveloped in this literature, which may be in part due to the general homogeneity of boards. Some researchers who consider other factors include Chams and Garcia-Blandon [44], who find no relationship between the educational qualification, independence or duality of board of directors with sustainability performance. In comparison, Oossthuizen and Lahner [45], in a study of South African companies, find positive (albeit not statistically significant) relationships between board members' ethnicity, non-traditional background, gender and independence, similar to Ortiz de Mandojana and Alberto Aragon-Correa's [46] findings.…”

Section: The Effects Of Board Diversity On the Sustainability Performmentioning

confidence: 99%

“…While not strictly a characteristic of a board member, several studies investigate the size of the board and a correlation to sustainability is generally found. For instance, Chams and Garcia-Blandon [44] find a statistically significant relationship, Kaymak and Bektas [48] find a positive relationship and Arayssi et al [49] find that the larger the board, the greater the sustainable performance of companies. Overall, the results of the studies when considered collectively demonstrate that a board of directors with a diverse make-up of people can have a significant impact on the sustainability performance of a company.…”

Section: The Effects Of Board Diversity On the Sustainability Performmentioning

confidence: 99%

“…While studies overwhelmingly used diversity synonymously with gender, there were a number that consider the independence of directors, director interlocks, the duality of CEOs and the size of the board [24,31,36,55]. Chams and Garcia-Blandon [44] investigate a range of attributes in their study of diversity on boards and the influence on sustainability performance, including the highest qualification and discipline of board members along with other more commonly reported variables including gender, board size and independence. Fuente et al [39] refer to race and ethnicity as markers of diversity in their study, although their actual research focuses on the influence of women and independence representation on boards.…”

Section: Independence Board Size Duality: Markers Of Diversitymentioning

confidence: 99%

“…A number of large-scale, well-developed, third-party databases exist that purport to measure sustainability performance. Those commonly employed in the studies reviewed here include KLD, Thomson and Reuters, Dow Jones, Bloomberg and the GRI in various formats [31,44,50,54,56]. Other researchers use Bloomberg's ESG scores in their analyses, including Tamimi and Sebastianelli [64], to determine the sustainability performance of the SandP 500 companies they investigate.…”

Section: Third-party Composite Proxiesmentioning

confidence: 99%

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Disrupting the Status-Quo of Organisational Board Composition to Improve Sustainability Outcomes: Reviewing the Evidence

Beasy

Gale

2020

Sustainability

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Sustainability, conceptualised as the integration of economic, social and environmental values, is the 21 st century imperative that demands that governments, business and civil society actors improve their existing performance, yet improvement has been highly fragmented and unacceptably slow. One explanation for this is the lack of diversity on the boards of organisations that perpetuates a narrow business, economic and legal mindset rather than the broader integrated values approach that sustainability requires. This paper presents a systematic review of the literature investigating how board diversity affects the sustainability performance of organisations. Our review uncovers evidence of relationships between various attributes of the diversity of board members and sustainability performance, though over-reliance on quantitative methodologies of studies reviewed means explanations for the observed associations are largely absent. Limited measures of sustainability performance and narrow definitions of diversity, focused predominantly on gender, were also found. Important implications from the study include the need for policy responses that ensure boards are diversely composed. We identify that more qualitative investigations into the influence of a broader range of types of board diversity on sustainability performance is needed, along with studies that focus on public sector boards, and research that takes an intersectional understanding of diversity.

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Section: The Effects Of Board Diversity On the Sustainability Performmentioning

confidence: 99%

Section: The Effects Of Board Diversity On the Sustainability Performmentioning

confidence: 99%

Section: The Effects Of Board Diversity On the Sustainability Performmentioning

confidence: 99%

Section: Independence Board Size Duality: Markers Of Diversitymentioning

confidence: 99%

Section: Third-party Composite Proxiesmentioning

confidence: 99%

See 3 more Smart Citations

Disrupting the Status-Quo of Organisational Board Composition to Improve Sustainability Outcomes: Reviewing the Evidence

Beasy

Gale

2020

Sustainability

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Fulfilling stakeholders' demand: Exploring CSR assurance's contribution to firms' environmental and social disclosures

Benjamin,

Botes,

Singh

2024

Bus Strat Dev

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This paper rigorously explores the impact of corporate social responsibility (CSR) assurance on the environmental and social disclosures of S&P 500 firms over the period 2010–2018. Integrating annual financial, CSR assurance and environmental and social disclosures data, our study unveils a positive association between CSR assurance and firms' environmental and social disclosures. In a pioneering analysis, we delve into the nuanced interplay between CSR assurance, female directors and environmental and social disclosures. Intriguingly, our findings reveal a negative and significant interaction between female directors and CSR assurance, shedding light on potential substitutes in shaping environmental and social disclosures. Furthermore, our study uncovers the moderating effect of sensitive industries, indicating a positive relationship between CSR assurance and environmental disclosures. Importantly, these insights remain robust across alternative estimation approaches. This study marks a notable contribution by being the first to scrutinize the implications of CSR assurance on social disclosure, investigate the substitutive role of female directors in comparison with CSR assurance and shed light on the added significance of CSR assurance in firms operating in sensitive industries. Our findings provide valuable insights for corporations and stakeholders amid escalating demands for comprehensive and reliable reporting on environmental and social matters. Likewise, this study underscores the potential policy implications of promoting or mandating CSR assurance, given its positive impact on environmental and social disclosures. Policymakers are urged to consider initiatives fostering gender diversity on boards and industry‐specific approaches to enhance sustainability‐related disclosures, aligning regulatory frameworks with evolving stakeholder expectations.

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The influence of board characteristics, ownership structure and public attention on climate change disclosure in banking sector companies

Octavio,

Setiawan

2024

Bus Strat Dev

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This study aims to analyze the influence of board characteristics, ownership structure, and public attention on the disclosure of information related to climate change in the banking industry. This study uses panel data from financial reports and corporate sustainability in the banking sector. The data is processed using the Eviews application, using a sample of 348 companies from 2018 to 2021. The results show that the presence of women on the board, foreign board members, foreign ownership, and public attention all have a positive and significant effect influence. In contrast, board size and institutional ownership have a negative influence on the disclosure of climate change information by banking companies in different countries. Statistical tests also show that although the level of climate change information disclosure by banking companies is relatively good, there is still room for improvement to be in line with evolving standards. The study also looks at public attention through media coverage, as measured through Google Trends, which has the potential to impact climate change information disclosure, especially in sectors that are sensitive to the issue. Furthermore, the study conducted additional tests by categorizing the sample based on companies located in countries with high and medium rankings in the climate change performance index, as well as grouping them by region (Asia, Americas, and Europe). This research has important practical and theoretical contributions, advancing the understanding of the application of legitimacy and stakeholder theories to climate change and the factors that influence climate change disclosure strategies.

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Sustainable or not sustainable? The role of the board of directors

Cited by 142 publications

References 100 publications

Disrupting the Status-Quo of Organisational Board Composition to Improve Sustainability Outcomes: Reviewing the Evidence

Disrupting the Status-Quo of Organisational Board Composition to Improve Sustainability Outcomes: Reviewing the Evidence

Fulfilling stakeholders' demand: Exploring CSR assurance's contribution to firms' environmental and social disclosures

The influence of board characteristics, ownership structure and public attention on climate change disclosure in banking sector companies

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