Environmental disclosure quality: Evidence on environmental performance, corporate governance and value relevance

Iatridis, George Emmanuel

doi:10.1016/j.ememar.2012.11.003

Cited by 317 publications

(374 citation statements)

References 78 publications

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“…In this framework, it is suggested that for the purpose of establishing more efficient and effective boards in monitoring the disclosure policies and processes of companies, auditing committees should be mostly composed of independent directors (Mohamad and Sulong 2010;Bouaziz 2014). Consistent with this suggestion, Iatridis (2013) found a positive relationship between envirionmental disclosure quality and the percentage of independent directors sitting on an audit committee in Malaysia. Likewise, Samaha et al (2015) reported a positive relationship between the level of voluntary disclosure and the percentage of independent directors in the audit committee.…”

Section: Audit Committee Independencesupporting

confidence: 73%

“…From an agency theory perspective, the audit committee represents one of the functional tools that can be used for attenuating agency costs (Forker 1992), since it serves as a monitoring mechanism that aims to improve the quality of information reported to stakeholders and the auditing process (Pincus et al 1989;Collier 1993). In this framework, empirical research generally report a positive a relationship between the existence of an audit committee and the volume and the quality of environmental disclosure (e.g., Ho and Wong 2001;Iatridis 2013;Khan et al 2013;Ettredge et al 2011;Akhtaruddin et al 2009). …”

Section: Audit Committee Independencementioning

confidence: 99%

“…2012;Khan 2010;Arcay and Vazquez 2005). In this sense, it can be easily said that both corporate governance and environmental disclosure tend to reduce information asymmetries between managers and stakeholders, (Ernstberger and Grüning 2013;Iatridis 2013), however relatively less attention has been paid to link these two research areas (Khan et al 2013).…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

“…On the other hand, it is possible to say that there has been relatively few attempts to investigate the relationship between corporate governance structure and environmental information disclosure, especially in the context of emerging economies (Michelon and Parbonetti 2012;Khan et al 2013). However, corporate governance mechanisms, in particular board structure, could be an important determinant of environmental disclosure, since firms' disclosure policies are basically determined by the board of directors (Ernstberger and Grüning 2013;Allegrini and Greco 2013;Cheng and Courtenay 2006;Gul and Leung 2004;Cormier et al 2015;Iatridis 2013;Arcay and Vazquez 2005;Michelon and Parbonetti 2012).…”

Section: The Relationship Between Board Characteristics and Environmementioning

confidence: 99%

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The Relationship Between Board Characteristics and Environmental Disclosure: Evidence from Turkish Listed Companies

Akbaş

2016

South East European Journal of Economics and Business

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This study primarily aims to analyze the relationship between selected board characteristics and the extent of environmental disclosure in annual reports of Turkish companies, using a sample of 62 non-financial firms listed on the BIST-100 index at the end of 2011. The content analysis is used to measure the extent of environmental disclosure. Four board characteristics, namely board size, board independence, board gender diversity and audit committee independence, are considered as the independent variables that may have an impact on the extent of the environmental disclosures of Turkish companies. According to the results of the regression analysis, only board size has a statistically significant and positive relationship with the extent of environmental disclosure. This result implies that firms with larger boards disclose more environmental information than firms with smaller boards. On the other hand, the rest of the independent variables are found to be unrelated to the extent of environmental disclosure. The low degree of independence and gender diversity on the boards of the sample companies for the time period analyzed in the study could be one possible explanation for this result.

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Section: Audit Committee Independencesupporting

confidence: 73%

Section: Audit Committee Independencementioning

confidence: 99%

Section: Literature Review and Hypothesesmentioning

confidence: 99%

Section: The Relationship Between Board Characteristics and Environmementioning

confidence: 99%

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The Relationship Between Board Characteristics and Environmental Disclosure: Evidence from Turkish Listed Companies

Akbaş

2016

South East European Journal of Economics and Business

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“…Progressive extractive companies believe that adhering to 'best practice' principles of compliance with the law and auditable financial accounting processes strengthen a commercial extractive operations' local and international 'social licence' to operate and reinforce positive governance to their advantage (Deegan and Blomquist, 2006;Holm and Rikhardsson, 2006;Clarkson et al, 2008;Holm and Rikhardsson, 2008;Simnett et al, 2009;van Staden, 2010, 2011;Iatridis, 2012Iatridis, , 2013. Indeed a commitment by a mining company to 'best practice' principals is critical to maintain a 'social licence to operate' from development to closure, and in some jurisdictions a 'social licence' can be as important as a regulatory licence (Solomon et al, 2008;Department of Industry Tourism and Resources and 2009).…”

Section: Introductionmentioning

confidence: 99%

Puzzled: Navigating extractive policy information jigsaws for best practice and transparency

McHenry

Morrison‐Saunders

Gorey

et al. 2015

The Extractive Industries and Society

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This viewpoint article was written in response to our attempt to explore mechanisms that promote financial 'transparency' in the minerals and energy extractives. We controversially forward our opinion that the trajectory of existing transparency mechanisms is likely to generate an obfuscating mass of disclosed information -not 'transparency'. Using a jigsaw analogy, we make a distinction between 'disclosure' and achieving the more challenging 'transparency': it is both being able to have the pieces (disclosure), and put them together to see the big picture. It is just as important to identify missing pieces of the puzzle to prevent selective disclosure. We critically analyse extractives financial policy, and provide an example where a 'best practice' mining securities policy has markedly advanced transparency in a major mining state. The policy substantially reduces government financial risk of a mining company default at no additional cost; reduces costs to industry around ten-fold; incentivises ongoing site rehabilitation; creates a fund for historical abandonments; and; sustains an impressive publically available information instrument of disturbed footprints and associated rehabilitation for every tenement at high precision on an annual basis. Yet, it still remains deficient in terms of transparency in particular aspects, of which we clarify and discuss."A lot of people never use their initiative because no-one told them to." -Banksy

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The influence of environmental performance on environmental disclosures: An empirical study in Ghana

2019

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The purpose of the study is to assess the level of corporate environmental disclosures in the corporate annual reports of mining and manufacturing companies in Ghana and their environmental performance. It further assesses the effect of environmental performance on environmental disclosures. A content analysis of the corporate annual reports of 25 companies over a 4‐year period for their environmental disclosures was undertaken using a disclosure index developed in line with Wiseman's (1982) environmental disclosure index. The environmental performance of the sampled firms was proxied by the rating score based on the AKOBEN environmental performance rating tool. A multiple regression analysis was undertaken using a random effect estimation model to test for the effects of environmental performance on environmental disclosures. The study finds that mining companies make more environmental disclosures than the manufacturing companies. Environmental performance was found to be a statistically significant but negative determinant of environmental disclosures. This indicates that mining and manufacturing companies make environmental disclosures to legitimize their activities in the society. The study did not consider the quality of the environmental disclosures. In addition, the study does not consider all companies assessed by the rating tool due to the selection criteria used in sampling the companies for the study. Management of companies needs to improve upon their environmental disclosure practices to gain legitimacy in the society. To the author's knowledge, this is the first study that uses the performance score of an environmental performance rating tool developed in the context of a developing country.

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Environmental disclosure quality: Evidence on environmental performance, corporate governance and value relevance

Cited by 317 publications

References 78 publications

The Relationship Between Board Characteristics and Environmental Disclosure: Evidence from Turkish Listed Companies

The Relationship Between Board Characteristics and Environmental Disclosure: Evidence from Turkish Listed Companies

Puzzled: Navigating extractive policy information jigsaws for best practice and transparency

The influence of environmental performance on environmental disclosures: An empirical study in Ghana

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