Biodiversity disclosure, sustainable development and environmental initiatives: Does board gender diversity matter?

Carvajal, Mariela; Nadeem, Muhammad; Zaman, Rashid

doi:10.1002/bse.2929

Cited by 62 publications

(80 citation statements)

References 54 publications

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“…performance (e.g., Carvajal et al, 2022), few studies have paid close attention to investigate the link between board gender diversity and eco-innovation (e.g., Galia et al, 2015;García-Sánchez et al, 2021;Konadu et al, 2022;Liao et al, 2019;Nadeem et al, 2020) According to the upper echelon theory, the results of this study suggest that firms may benefit from the diverse knowledge and expertise in the upper echelon, which promote eco-innovation performance. This provides support for the upper echelon theory because the presence of female directors on the board encourages greater perspective diversity and enriches useful information in decision-making processes, consequently, improving the board's cognition (Konrad et al, 2008;Terjesen et al, 2009).…”

Section: Robustness Checksmentioning

confidence: 78%

Are gender‐diverse boards eco‐innovative? The mediating role of corporate social responsibility strategy

Issa

Bensalem

2022

Corp Soc Responsibility Env

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Despite the recognized importance of board gender diversity and eco-innovation, it is far from clear how board gender diversity can improve eco-innovation. Grounded in upper echelon theory and the gender socialization theory, we suggest that this relationship operates through corporate social responsibility (CSR) strategy. In a sample of FTSE 350 firms, we find that CSR strategy mediates the influence of the board's gender diversity on eco-innovation. These findings are robust to several regression specifications and alternative samples. This work offers empirical evidence that gender diversity on boards can play a significant role in promoting firm's CSR strategy, which in turn improves eco-innovation. Our findings could provide useful insights for regulators and stakeholders concerned with enhancing corporate governance structure and promoting eco-innovation.

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Section: Robustness Checksmentioning

confidence: 78%

Are gender‐diverse boards eco‐innovative? The mediating role of corporate social responsibility strategy

Issa

Bensalem

2022

Corp Soc Responsibility Env

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“…Research focusing on board diversity demonstrates that women's leadership styles that include inclusiveness, open communications and high moral reasoning (Eagly & Johnson, 1990) lead to a better organisational outcome. Supporting these arguments, many studies' findings suggest that boardroom gender diversity reduces information asymmetry and leads to higher disclosure (Carvajal, Nadeem, & Zaman, 2021; Fernandez-Feijoo, Romero, & Ruiz-Blanco, 2014; Nadeem, 2020), including CSR disclosure (Khan, Muttakin, & Siddiqui, 2013). Similarly, the presence of gender diversity on corporate boards can help companies deal with exogenous shocks (Sun, Zhu, & Ye, 2015).…”

Section: Resultsmentioning

confidence: 94%

COVID-19 and CSR disclosure: evidence from New Zealand

Bahadar

Zaman

2022

CAFR

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PurposeStakeholders' uncertainty about firms' value drives their urge to get information, as well as managerial disclosure choices. In this study, the authors examine whether and how an important source of uncertainty – the recent COVID-19 pandemic's effect on corporate social responsibility (CSR) disclosure – is beyond managerial and stakeholders' control.Design/methodology/approachThe authors develop a novel construct for daily CSR disclosure by employing computer-aided text analysis (CATA) on the press releases issued by 125 New Zealand Stock Exchange (NZX) listed from 28 February 2020 to 31 December 2020. To capture COVID-19 intensity, the authors use the growth rate of the population-adjusted cumulative sum of confirmed cases in New Zealand on a specific day. To examine the association between the COVID-19 outbreak and companies' CSR disclosure, the authors employed ordinary least squares (OLS) regression by clustering standard error at the firm level.FindingsThe authors find a one standard deviation increase in the COVID-19 outbreak leads to a 28% increase in such disclosures. These results remained robust to a series of sensitivity tests and continue to hold after accounting for potential endogeneity concerns. In the channel analysis, the study demonstrates that the positive relationship between COVID-19 and CSR disclosure is more pronounced in the presence of a well-structured board (i.e. a large, more independent board and with a higher proportion of women on it). In further analysis, the authors find the documented relationship varies over the pandemic's life cycle and is moderated by government stringency response, peer CSR pressure and media coverage.Originality/valueThis paper is the first study that contributes to the scant literature examining the impact of the COVID-19 outbreak on CSR disclosure. Prior research either investigates the relationship of the CSR-stock return during the COVID-19 market crisis or examines the relationship between corporate characteristics including the quality of financial information and the reactions of stock returns during COVID-19. The authors extend such studies by providing empirical evidence that managers respond to COVID-19 by increasing CSR disclosure.

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“…On the same direction, according to resource dependence theory, female directors are considered additional resources of expertise and has the ability to enhance firm performance (Sarhan and Ntim, 2019). Gender socialization theory also argues that boards with more female directors can manage wider stakeholder relationships and be concerned more by stakeholder’s welfare and sensitive to ethical issues and try not to harm community as women are more community-minded (Carvajal et al , 2022). On the other hand, the critical mass theory assumes that a critical number of females on the board must be reached before positive disclosure results are observed (Radu and Smaili, 2021).…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Covid-19 disclosure: do internal corporate governance and audit quality matter?

Abdelhak

Hussainey

Albitar

2023

IJAIM

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Purpose This study aims to examine the impact of internal corporate governance and audit quality on the level of COVID-19 disclosure in Egypt. Design/methodology/approach The authors use manual content analysis to measure levels of COVID-19 disclosure in the narrative sections of annual reports. The authors analyze all companies listed on the Egyptian Stock Exchange over 2020–2021. The authors use different regression models to test the research hypotheses. Findings The analysis adds to the literature in two crucial respects. First, it provides a measure for COVID-19 disclosure in Egypt. Second, it provides evidence that governance mechanisms (board diversity, audit committee [AC] independence), auditor type and audit opinion affect the level of COVID-19 disclosure. The higher level of COVID-19 disclosure is associated with firms with more female directors on the board, being audited by one of the big four audit firms and receiving standard clean audit opinion. While the inexistence of an AC and more executives on the AC negatively affect COVID-19 disclosure levels. Originality/value To the best of the authors’ knowledge, it is the only paper that examines COVID-19 disclosure in the Egyptian context. It is also the first paper that provides evidence on the impact of internal governance and audit quality on COVID-19 disclosure.

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Biodiversity disclosure, sustainable development and environmental initiatives: Does board gender diversity matter?

Cited by 62 publications

References 54 publications

Are gender‐diverse boards eco‐innovative? The mediating role of corporate social responsibility strategy

Are gender‐diverse boards eco‐innovative? The mediating role of corporate social responsibility strategy

COVID-19 and CSR disclosure: evidence from New Zealand

Covid-19 disclosure: do internal corporate governance and audit quality matter?

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