The impact of environmental, social, and governance disclosure on firm value: The role of CEO power

Li, Yiwei; Gong, Mengfeng; Zhang, Xiu Ye; Koh, Lenny

doi:10.1016/j.bar.2017.09.007

Cited by 667 publications

(627 citation statements)

References 71 publications

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“…Mervelskemper and Streit () investigated the effectiveness of a firm's ESG reporting strategy and found that ESG reporting strongly influenced perceived ESG performance. Li, Gong, Zhang, and Koh () investigated the impact of ESG performance on 350 Financial Times Stock Exchange‐listed firms and found a positive impact of ESG performance on firm value. Buallay () investigated the impact of ESG reporting on the performance of 235 European banks and found a positive impact of ESG disclosure on bank performance.…”

Section: Introductionmentioning

confidence: 99%

“…Mervelskemper and Streit (2017) investigated the effectiveness of a firm's ESG reporting strategy and found that ESG reporting strongly influenced perceived ESG performance. Li, Gong, Zhang, and Koh (2018) To the best of the authors' knowledge, none of the previous significant studies investigated the impact of sustainability disclosure (ESG) on the performance or value of the financial and nonfinanciallisted firms in European economies. European economies are considered to be the leading economies advocating sustainable development (Buallay, 2019).…”

Section: Introductionmentioning

confidence: 99%

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The impact of sustainability (environmental, social, and governance) disclosure and board diversity on firm value: The moderating role of industry sensitivity

Qureshi

Kirkerud²,

Theresa³

et al. 2019

Bus Strat Env

259

161

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Using a large panel data set comprising 812 listed European firms, this study investigates whether sustainability disclosure (environmental, social, and governance) and female representation on boards affect firm value. We observe a positive impact of sustainability disclosure and board gender diversity on firm value, suggesting that the best management practices, enhanced stakeholder trust, and female representation on boards improve firm value. We observe that the firms in sensitive industries achieve superior social and governance performance. We also observe that the firms with higher female representation on their boards present significantly superior environmental, social, and governance performance. Our results are robust to different firm and country specific control variables and to year‐ and country‐fixed effects.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The impact of sustainability (environmental, social, and governance) disclosure and board diversity on firm value: The moderating role of industry sensitivity

Qureshi

Kirkerud²,

Theresa³

et al. 2019

Bus Strat Env

259

161

View full text Add to dashboard Cite

show abstract

“…Corporate social performance is increasingly viewed as a competitive advantage for firms (Byron & Post, 2016), with many prior studies finding that increased ESG disclosure levels improve firm value (Li, Gong, Zhang, & Koh, 2018). One of the recommendations to improving corporate social performance of corporations is to increase the number of women on boards (Soares, Marquis, & Lee, 2011), based on the idea that corporate social responsibility (CSR) and reputation may be positively affected by the experience and values of female directors (Adams, de Haan, Terjesen, & van Ees, 2015;Terjesen, Sealy, & Singh, 2009).…”

Section: Introductionmentioning

confidence: 99%

Board gender diversity and transparency of environmental, social and governance disclosure: Evidence from Malaysia

2019

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This study aims to investigate the effect of board gender diversity on the transparency of environmental, social, and governance (ESG) disclosures in an emerging market such as Malaysia. Dataset is comprised of 568 firm‐year observations from 78 firms listed on the Bursa Malaysia. Ordinary least squares regression analysis of the data shows that ESG disclosure scores are significantly improved with the increasing presence of women directors on corporate boards. However, when the individual components are studied, the impact of board gender diversity varies. This study contributes to the limited but growing literature on ESG reporting quality and board gender diversity especially in emerging economies.

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“…analyzed data from 20 manufacturing companies listed on the Nigerian Stock Exchange for 10years(2006)(2007)(2008)(2009)(2010)(2011)(2012)(2013)(2014)(2015)(2016), and found that there is no significant relationship between board size and tax aggressiveness. In this study, we focus on the effect of three corporate governance variables: board composition, board independence, and CEO duality as explained bellow.Literature on the relationship between corporate governance and tax aggressiveness have not directly examined elements of corporate governance such as those of the board of directors with tax aggressiveness[27] [28][29] [30]. Although tax administration recognizes the importance of the board as an effective internal control tool to reduce tax aggressiveness, previous studies have not done much about the relationship of board characteristics with tax aggressiveness[31]…”

mentioning

confidence: 99%

Board of Directors’ Characteristics and Tax Aggressiveness: Evidence from Jordanian Listed Firms

Aburajab¹,

Maali²,

Jaradat³

et al. 2019

TEL

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This study aims to examine the relationship between Board of Director's characteristics and tax aggressiveness. Taxes are considered an additional cost to the firm and its shareholders because these taxes reduce the available cash flow. Firms tend to employ different tax aggressiveness techniques. Aggressive tax planning or strategic tax behaviors are activities generally designed to reduce tax liability that includes Tax evasion, Tax evasion and legitimate saving of taxes. This study is the first in Jordan which tests the relationship between Board of Director's characteristics (Board Duality, Board Composition and Board Independence) on tax aggressiveness. Based on a sample of 140 Jordanian firms during the period 2013-2017, this study used regression analysis to examine the effect of board composition, board independence, CEO duality, return on assets (ROA) and firm size on the tax aggressiveness. The study found that there is a negative relationship between board composition and board independence from one side, and the tax aggressiveness from the other side. Furthermore, the study found that there is a positive relationship between board duality and tax aggressiveness. Finally, both the return on assets (ROA) and the firm size variables, which were included as control variables, were found to be positively related to the tax aggressiveness.

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The impact of environmental, social, and governance disclosure on firm value: The role of CEO power

Cited by 667 publications

References 71 publications

The impact of sustainability (environmental, social, and governance) disclosure and board diversity on firm value: The moderating role of industry sensitivity

The impact of sustainability (environmental, social, and governance) disclosure and board diversity on firm value: The moderating role of industry sensitivity

Board gender diversity and transparency of environmental, social and governance disclosure: Evidence from Malaysia

Board of Directors’ Characteristics and Tax Aggressiveness: Evidence from Jordanian Listed Firms

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