Transparency among S&amp;P 500 companies: an analysis of ESG disclosure scores

Tamimi, Nabil; Sebastianelli, Rose

doi:10.1108/md-01-2017-0018

Cited by 316 publications

(250 citation statements)

References 61 publications

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“…Considering these arguments and previous works from different authors (e.g., Lone, Ali, & Khan, ; Melero, ; Rao, Tilt, & Lester, ; Tamini & Sebastianelli, ), there seems to be a positive relationship between board gender diversity and CSR disclosure, or environmental disclosure. However, in emerging markets, CSR disclosure may have some aspects that can be differentiated with respect to the context, rules, and regulations of developed economies, and this may result in this relation not always showing a positive sign.…”

Section: Theoretical Background and Hypothesesmentioning

confidence: 64%

Corporate social responsibility reporting and corporate governance mechanisms: An international outlook from emerging countries

Gallego‐Álvarez

Pucheta‐Martínez

2019

Bus Strat Dev

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Within corporate governance, the board of directors plays a major role in improving corporate transparency by increasing the disclosure of corporate social responsibility (CSR) information. In this paper, we analyse the effect of board composition, particularly board independence, board gender diversity, CEO duality, and the presence of a CSR board committee on CSR reporting. Evidence of this effect is still scarce when it concerns the effect of corporate governance mechanisms and CSR disclosure in firms pertaining to emerging market economies, and for this reason, our study focuses on this type of country. Our sample comprises 934 international firm‐year observations from the following 10 countries with emerging markets: Brazil, Chile, China, Czech Republic, Egypt, India, Mexico, Russia, South Africa, and Thailand for the period 2004–2015. This classification of countries with emerging markets is based on the Morgan Stanley Capital International (MSCI) Emerging Markets Index. Drawing on agency and stakeholder approaches, we posit four hypotheses: board independence and CSR board committees positively affect CSR disclosure, whereas board gender diversity and CEO duality have a negative effect. The results obtained reveal that in emerging market economies, the presence of women on boards of directors is quite limited and, therefore, their participation in decision‐making is minimal. Furthermore, CEO duality discourages the disclosure of CSR information, which may be justified for the family orientation of most firms in these countries, where the CEO is usually also the chairperson of the board.

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Section: Theoretical Background and Hypothesesmentioning

confidence: 64%

Corporate social responsibility reporting and corporate governance mechanisms: An international outlook from emerging countries

Gallego‐Álvarez

Pucheta‐Martínez

2019

Bus Strat Dev

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“…Along this line, Jiraporn and Chintrakarn (2013) argue that when CEO duality exists, CEOs use CSR disclosure as an opportunistic instrument to enhance their reputation. Tamini and Sebastianelli (2017) also find that CEO duality on boards increases the disclosure of more environmental-social-governance information and, therefore, firms will be more transparent. Prior research (Jiraporn & Chintrakarn, 2013;Jizi et al, 2014;Mallin, Michelon, & Raggi, 2013) reports the positive association between CEO duality and CSR reporting, which supports the idea that CEO duality is not always harmful.…”

Section: Ceo Dualitymentioning

confidence: 77%

An international approach of the relationship between board attributes and the disclosure of corporate social responsibility issues

Pucheta‐Martínez

Gallego‐Álvarez

2018

Corp Soc Responsibility Env

162

113

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Firms interested in being perceived by all stakeholders and society as drivers of corporate social responsibility (CSR) activities, especially regarding CSR reporting, should have boards of directors that defend not only shareholder interests but also all stakeholders' needs. Thus, we expect that efficient boards, particularly if well-structured, will impact on CSR disclosure. As a result, in this paper, we examine the effect of board composition, particularly board size, board independence, board gender diversity, chief executive officer (CEO) duality, and CSR board committee, on CSR reporting. Using a sample of international firms, concretely 13,178 observations belonging to 39 countries, we hypothesize that all these attributes positively affect CSR disclosure, except board independence and CEO duality, which are expected to impact negatively. These hypotheses are theoretically supported by the agency and stakeholder perspectives. Our findings support all the hypotheses, except that of CEO duality, and therefore, we conclude that board characteristics such as board size, board gender diversity, and CSR board committees encourage the disclosure of CSR matters, whereas board independence discourages this reporting. Contrary to our predictions, CEO duality has a positive effect on CSR reporting. KEYWORDS board gender diversity, board independence, board size, CEO duality, CSR board committee, CSR reporting, international perspective

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“…Bear et al () find that CSR ratings increase with the increase in the number of female directors on corporate boards. Barako and Brown (), Frias‐Aceituno et al (), Lone et al (), and Tamimi and Sebastianelli () find that the presence of women directors positively influences the extent of CSR disclosure. Similarly, Post, Rahman, and Rubow (), Jia and Zhang (), Harjoto et al (), and Liao et al () find that corporate social performance is improved with more females on corporate boards.…”

Section: Literature Review and Hypothesis Formulationmentioning

confidence: 98%

“…However, prior studies on CSR and ESG disclosure find mixed evidence for the influence of gender diversity on corporate social disclosure. Barako and Brown (), Frias‐Aceituno, Rodriguez‐Ariza, and Garcia‐Sanchez (), Lone, Ali, and Khan (), and Tamimi and Sebastianelli () are some studies that find a positive relationship between board gender diversity and corporate social disclosure, whereas Rao, Tilt, and Lester () and Muttakin, Khan, and Subramaniam () find negative impacts of gender diversity on CSR disclosure. Bowrin (), Giannarakis (), Ahmad, Rashid, and Gow (), and Manita et al (), among others, find no significant effect of gender diversity on corporate social disclosure.…”

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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Transparency among S&P 500 companies: an analysis of ESG disclosure scores

Cited by 316 publications

References 61 publications

Corporate social responsibility reporting and corporate governance mechanisms: An international outlook from emerging countries

Corporate social responsibility reporting and corporate governance mechanisms: An international outlook from emerging countries

An international approach of the relationship between board attributes and the disclosure of corporate social responsibility issues

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

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