Purpose-The purpose of this paper is to investigate the determinants of corporate governance factors and company specific characteristics of environmental disclosure in a developing country, namely, India. Design / Methodology/ Approach-A static and GMM-based dynamic panel data regression analysis is used to measure the ecological practices by considering the sample size of 100 non-financial listed companies taken from the National Stock Exchange between 2010 to 2021. Findings-Using two-step dynamic panel data GMM-based estimation, the study finds that governance factors like board size and board meetings are showing a positive effect on disclosure practices. whereas, in the case of an independent director a negative influence can be seen. But in the case of the squared term of independent director, there remains a positive effect on environmental activities. However, in the case of company specific characteristics firm age and the debt-equity ratio are positively influencing environmental activities where as firm size is found to influence negatively on disclosure practices. Originality/value-This study improves the mounting literature on the association between corporate governance factors, company specific characteristics, and environmental practices from an emerging economy standpoint. Specifically, the study inspects the dynamism and endogeneity effect along with the non-linear effect of different independent factors on environmental disclosure.
This study takes inspiration from the resource-based view theory and two-little of a good thing theory to scrutinize the influence of environmental performance (EP) on the firms' financial performance (FP). This study comes up with different interpretations like initially negative and later on positive impact of EP measured in terms of environmental disclosure score (EDS) on the firms' economic performance measured in terms of Tobin's Q, considering a nonlinear association between them. In order to examine the research hypothesis, static as well as generalized method of moments (GMM)-based dynamic panel data analysis has been used on the selected nonfinancial Indian companies for eleven financial years which commences from 2010 up to 2020. The result in the study confirms a positive U-shaped linkage between EP and FP because firms achieve better and positive FP when the EDS increases continuously and crosses the threshold limit of 36 points in the long run, respectively. The result suggests that managers and investors to be cautious and courageous because EP will generate positive results due to the availability of critical resources and organization discretion in the long run but will harm at the minimum level.
PurposeThe study aims to focus to ascertain the consequence of corporate management and different firms' characteristics on environmental sustainability.Design/methodology/approachThe sample includes 78 non-financial NSE 100 listed companies from 2010 to 2020. Here, the static and Arellano–Bond dynamic panel data model is considered to determine effect of corporate governance mechanisms and different firms’ characteristics on environmental performance.FindingsThe empirical findings of this study indicate that board size is negatively related with environmental sustainability. Similarly a positive influence of age, size, and market-based financial performance can be seen on sustainability of the firm.Originality/valueThe present study takes an initiative to determine endogeneity and the dynamism effect of corporate governance factors and specific firms' characteristics on environmental sustainability from an emergent nation.
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