The Effect of Corporate Governance Characteristics on Environmental Performance: The Case of Food and Beverage Sector

Giannarakis, Grigoris; Sariannidis, Nikolaos; Konteos, George

doi:10.4236/ojbm.2020.85122

Cited by 6 publications

(7 citation statements)

References 73 publications

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“…Additionally, the study of Shahbaz, Karaman, Kilic, and Uyar [77] discovered that the non-executive directors are positive and significantly influenced environmental disclosure. As well, the study of Giannarakis, Sariannidis, and Konteos [32] on the influence of corporate governance on environmental practice in Greece concluded that the board size and existence of a female on board have favourable impact of environmental practices.…”

Section: Review Of Extant Literaturementioning

confidence: 99%

“…A checklist of environmental sustainability disclosure was developed, and it was proxied by eight disclosure indicators as shown in Appendix. A score of '1' was assigned to an item if it is available in the firm's annual account and a score of '0' if the information is absent [5,32]. Content analysis was conducted to ascertain the absence or presence of a specific disclosure in the annual reports based on the environmental sustainability disclosure checklist developed [44,62].…”

Section: Dependent Variablementioning

confidence: 99%

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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 Literaturementioning

confidence: 99%

Section: Dependent Variablementioning

confidence: 99%

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

Oyekale¹,

Olaoye²,

Nwaobia³

2022

JFA

View full text Add to dashboard Cite

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“…The figure of the directors, executive, non-executive, and independent non-executive represents the size of a board (Brammer & Pavelin, 2006;Giannarakis, Sariannidis, & Konteos, 2020). Stakeholder theory opines that the larger the board, the more benefits in facilitating the firm's fairness and development; and it determines the efficacy of company in meeting the stakeholders' requirements of voluntary disclosure of sustainability practices (Ntim, Soobaroyen, & Broad, 2017).…”

Section: Review Of Extant Literaturementioning

confidence: 99%

Corporate Governance, Financial Performance, and Social Sustainability Practices of Consumer Goods Companies Listed in Nigeria

Olaoye¹,

Nwaobia²,

Oyekale³

2022

theijbm

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IntroductionSocial sustainability practice is a contemporary issue and is internationally embraced by organizations to exhibit the significance of its existence in the society. Social sustainability practices are not the company's responsibilities, they are carried out to boost the image of corporate entities in the community where such entities run their business activities (Marquis, Glynn, & Davis, 2007;Yekini, Adelopo, Andrikopoulos, & Yekini, 2015). Social sustainability practices are broader than corporate social responsibilities such as donations and comprise obliging substantial time and other organization's possessions such as fund, competence and proficiency to communal projects and expansions, comprising and not restricted to abolition of poverty, sculptures, house project, environment safety, health and safety, well-being and general enhancements in the standards of living or worth of the life of the members of the society (Global Reporting Initiative, 2020).Previous research works reveal that the level of adherence to social sustainability practices and disclosure in developing nations, specifically Nigeria is on low lane; hence, annual financial statement fails to communicate the social sustainability practices of firms (Adegbie, Akintoye, & Taiwo, 2020;Emeka-Nwokeji & Osisioma, 2019;Sobhani, Zainuddin, & Amran, 2011). Most organizations have now redesigned their goal from meeting only the interest of shareholders to attaining the interests of all stakeholders due to development in the list of organizations that are now involving themselves in social sustainability practices and disclosing same in their periodic annual reports or a standalone sustainability report (Ceulemans, Molderez, & Van, 2015). Many countries have adopted Global Reporting Initiative (GRI) sustainability standards to guide their practices and disclosure of social sustainability practices (Adegbie, Akintoye, & Taiwo, 2020; Ceulemans, Molderez, & Van, 2015).

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“…2019), Japan (Endo 2020), and the United Kingdom (Giannarakis et al. 2020). Very few studies focus on developing countries or emerging economies as research contexts relevant to EID (Adinehzadeh et al.…”

Section: Introductionmentioning

confidence: 99%

The Impact of Directors’ Foreign Experience on Environmental Information Disclosure: Evidence from Heavily Polluting Chinese Firms

Hussain

Tian

Ayaz

et al. 2022

Asia-Pac J of Fin Stud

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Based on manually collected data relating to board internationalization, measured as directors' experience gained in developed countries, this paper explores the relationship between directors' foreign experience and the environmental information disclosure of Chinese heavily polluting firms from 2016 to 2019. We find that directors' foreign experience has a significant positive impact on environmental information disclosure. These findings are robust and consistent across various analytical models. In addition, empirical evidence shows that the positive effect of directors' foreign experience on environmental information disclosure is more significant in state-owned enterprises and firms with foreign ownership. Our research has important implications for policy-makers and regulators.

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The Effect of Corporate Governance Characteristics on Environmental Performance: The Case of Food and Beverage Sector

Cited by 6 publications

References 73 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

Corporate Governance, Financial Performance, and Social Sustainability Practices of Consumer Goods Companies Listed in Nigeria

The Impact of Directors’ Foreign Experience on Environmental Information Disclosure: Evidence from Heavily Polluting Chinese Firms

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