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Brazilian Industry has sought to adjust to the laws and acts of corporate governance and strategic management practices arising from the new national and international economic reality. One of the emerging elements is Strategic Alignment (SA). The present study has sought to identify the level of maturity and the order of importance of the criteria that promote SA between Business and Information Technology (IT), as perceived by business and IT executives. Based on the model of SA maturity from Luftman (2000), a survey was carried out among 259 executives from 72 enterprises located in industrial centers in the south of Brazil. The findings indicate that elements such as "Communication", "Skills ", "Scope and Architecture" are of greatest importance and most promoted within firms. Though equally important, the management element "Competency/Value Measurements" was found to be less promoted, as a significant difference was observed among the respondents. It is worth noting that both the instrument and the findings of this study can contribute towards the periodical analysis of the intensity of the SA promoted by organizations, with the aim of continually enhancing the SA practiced by organizations. [ABSTRACT FROM AUTHOR]

Copyright of Rihan Journal for Science Publishing is the property of Association of Arab Universities and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The purpose of this paper is to investigate the relationship between board gender equality and environmental, social and governance (ESG) performance in the European banking sector. The study examines whether and how the presence of women on the board of directors (BoD) influences ESG dimensions. Design/methodology/approach: The authors analyzed a sample of 72 European Union banks for the period 2015–2021 and developed an econometric model applying unbalanced panel data regression with firm fixed effects and controls per year. To test the research hypotheses, the authors considered gender equality in terms of female participation on the BoD and measured ESG dimensions by using the ESG score provided by Refinitiv. Findings: The findings suggest a significant positive relationship between the number of women on BoD and the ESG performance of European banks only up to a certain threshold of female directors (at least three women). The study also explores how the proportion of women on BoD influences the individual ESG pillars. The results show that the percentage of female directors has a positive and statistically significant impact on the social dimension of the ESG framework. Research limitations/implications: The investigation is highly relevant to investors considering ESG issues in their decision-making process. The overall findings support policymakers and regulators on how to improve ESG performance through the design and the application of corporate governance (CG) mechanisms. From a managerial perspective, the study suggests that managers and CEOs should focus their efforts on establishing the right gender combination of directors on bank BoDs. Originality/value: This paper offers an in-depth examination of the CG practices of banks, and it attempts to bridge the gap in prior literature on the determinants of ESG issues in the European banking industry. To the best of the authors' knowledge, this study is the first that investigates the relationship between the representation of women on BoDs and the ESG dimensions measured by the Refinitiv Eikon score. The use of critical mass theory adds a fresh perspective to the literature on ESG in Europe since the influence of board gender diversity on ESG performance of the European banks is still unaccounted for. This study addresses this pressing research issue drawing on resource dependence, agency and legitimacy theories. [ABSTRACT FROM AUTHOR]

Purpose: This study aimed to investigate the effect of sustainability disclosure (SD) as a mediator for the relationship between corporate governance (CG) and the performance of firms listed on the Amman Stock Exchange (ASE). Design/methodology/approach: The study analysed 405 reports of firms listed on the ASE from 2014 to 2018. The direct and indirect impact of governance mechanisms on the firms' performance was examined using STATA 15. A four-step procedure for testing mediation was used to determine the mediating role of SD. Findings: The results demonstrated that the board and audit committees' effectiveness positively and significantly influences the firm's performance. Additionally, the results demonstrated that SD partially mediates the relationship between CG and the firm's performance. Research limitations/implications: Research implications – This study supported the assumptions of agency, resource dependence and stakeholder theories as the basis to explain the relationship among board's effectiveness, audit committee's effectiveness, sustainability report and firm performance in developing economies. In addition, the results suggested that CG helps to enhance the firm's performance and sustainability reporting. Firms providing sustainable report are deemed more responsible and attract more returns to firms. Research limitations – The study only focused on reports from five years for non-financial firms listed on the ASE to test the assumed relationship between the variables. Practical implications: This study contributed to the body of knowledge by examining the mediating role of SD between CG and firm performance. Investors, managers and regulators can obtain further insights, especially those seeking to improve a firm's performance in the emerging markets, through a sound CG system and extensive sustainability reporting. Originality/value: This study focused on the direct and indirect impacts of CG and firm performance in an emerging and developing economy. The study used SD as the mediating variable in examining the indirect effect. [ABSTRACT FROM AUTHOR]

This study explores the relationship between "ownerless" companies and environmental performance in the absence of actual controllers. We argue that companies lacking actual controllers may opt to enhance their environmental performance to address external doubts about their governance legitimacy. Opting for an empirical analysis approach, we devised a theoretical framework, and executed a regression analysis on a sample of 6676 listed companies within China's A-shares market spanning from 2011 to 2021. The findings corroborated our hypothesis that "ownerless" companies are significantly positively related to environmental performance. Furthermore, we find that the top management team (TMT) stability negatively moderates the "ownerless" companies—environmental performance relationship, while external stakeholder environmental pressure (government environmental governance and public environmental attention) positively moderates this relationship. These findings contribute to the research on stakeholder theory and the growing literature on emerging economies. They also provide insights in practice for policymakers on how to properly perceive the phenomenon of "ownerless" companies and promote their environmental performance through institutional design and policy guidance. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the impact of board characteristics on climate change disclosures (CCDs) in the context of an emerging economy, with a unique focus on regulatory influences. Design/methodology/approach: This study analyzes longitudinal data (2014–2021) from environmentally sensitive firms listed on the Dhaka Stock Exchange, using a disclosure index developed within the Global Reporting Initiative framework. The authors use a neo-institutional theoretical lens to explore regulatory influences on CCD through board characteristics. This study uses hand-collected data from annual reports owing to the absence of an established database. Findings: The results indicate that a larger board size, the presence of foreign directors and the existence of an audit committee correlate with higher levels of CCD disclosure. Conversely, a higher frequency of board meetings is associated with lower CCD disclosure levels. This study also observed an increase in CCD following the implementation of corporate governance guidelines by the Bangladesh Securities and Exchange Commission, albeit with a relatively low number of firms making these disclosures. Research limitations/implications: This study contributes to the climate change reporting literature by providing empirical evidence of regulatory influences on CCD through board characteristics in an emerging economy. However, the findings may not be universally applicable, considering the study's focus on Bangladeshi listed firms. Practical implications: This study suggests growing pressures for diverse stakeholders, including researchers and regulatory bodies, to integrate climate change disclosure into routine activities. This study offers a valuable framework and insights for various stakeholders. Social implications: By emphasizing the influence of good governance and sustainability practices, this study contributes to stakeholders' understanding, aiming to contribute to a better world. Originality/value: This study stands out by uniquely positioning itself in the climate change reporting literature, shedding light on regulatory influences on CCD through board characteristics in the context of an emerging economy. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to analyse the recently highly debated topics of the Tax avoidance–Corporate social responsibility (CSR) performance nexus and to further investigate the impacts of engaging in socially responsible activities on financial performance and bank debt financing constraints, at a disaggregate level (firm level). Design/methodology/approach: The sample for this study includes all publicly listed companies headquartered in BRICS countries from 2014 to 2020. The study employs detailed financial accounting information and the Environmental, Social and Governance scores released by Thomas Reuters EIKON database, which is regarded as the most authoritative indicator of CSR performance. Both pooled and panel data regression models are employed, and robustness tests that use a wide range of model specifications, measures and estimators are performed. Findings: The study finds robust evidence that corporate tax avoidance is negatively associated with CSR performance. The authors also find that firms with better CSR performance have healthier financial performance and lower costs of bank debt. Overall, the research findings are supportive of the corporate culture theory, which suggests that firms behave ethically consistent in both CSR practices and tax payment. Originality/value: CSR performance and the engagement of tax avoidance activities have been documented in the literature to be vital elements investors care about. This study focuses specifically on the association between them and further elaborates their impacts in the financial markets. To the best of the authors' knowledge, this is the first study which investigates the nexus in a sample that includes the most powerful emerging markets in the world. The results of this study are generalisable in terms of the implications of CSR management to many other emerging markets. [ABSTRACT FROM AUTHOR]

Purpose: This study seeks to investigate the impact of board attributes on environmental, social and governance (ESG) performance, along with exploring the mediating role of carbon emissions in this relationship. Design/methodology/approach: To address this objective, the panel data approach was used to analyze the data were collected from 1,621 European companies from 2017 to 2021. Findings: This study shows that board gender diversity, audit committee independence, expertise and board meeting attendance help enhance ESG performance. On the contrary, board size and composition do not affect ESG performance. The findings also showed that board gender diversity, audit committee independence, expertise and board meeting attendance are negatively related to carbon emissions performance. However, board size is related positively to carbon emissions performance. This indicates that the larger boards of directors may have diverse experiences that enhance the environmental performance of companies. Furthermore, the finding showed companies that contribute to lowering carbon emissions are more willing to improve their ESG performance. Also, carbon emissions mediate the relationship between the board's attributes and ESG performance. Originality/value: The study's results have significant implications for firm managers in enhancing the efficiency of board decisions in determining environmental practices that matter to various groups of stakeholders. In addition, this study provides valuable input to regulators and policymakers regarding strengthening the regulations and controlling tools that enhance environmental performance. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate whether executive compensation, corporate social responsibility (CSR)-based incentives, environmental social and governance (ESG) performance and firm performance are the significant predictors of CSR committees, in addition to CEO, firm and corporate governance characteristics, from the tenet of stakeholder and managerial power theories. Design/methodology/approach: Switzerland is an exemplary country from the perspective of corporate governance and executive compensation. This empirical study includes a panel data set of listed Swiss companies, so fixed-effect logistic regression has been used. Findings: It has been found that the companies that offer CSR-based incentives and higher compensation to their CEOs and have better ESG performance are more likely to have CSR committees. Practical implications: This empirical paper fills the gap in the literature, guides practitioners about the factors that influence the creation and efficiency of CSR committees, and inspires regulatory bodies to ponder on a mandatory CSR committee to form resilient and sustainable organizations worldwide. Social implications: COVID-19 has re-emphasized the prominence of sustainability and the stakeholder approach. Thus, this paper indicates that CSR committees require the adaption and implementation of a holistic sustainability policy that integrates both external and internal factors and thereby provides a whole process for sustainability issues. Originality/value: The impact of CSR committees on corporate social performance (CSP) has already been investigated. However, the predictors of CSR committees have been less scrutinized in the literature. [ABSTRACT FROM AUTHOR]

Being a destination for investors around the globe, there are increasing concerns about climate change, pollution and biodegradation as well as the disposition of companies towards reporting environmental concerns in Africa. This necessitated the interest in a comparative study of corporate governance mechanisms and environmental accounting reporting (EAR) in selected African quoted companies. Using ex-post facto research design, the study's population comprised of quoted companies in six sectors located in four Africa countries (Egypt, Nigeria, Kenya and South Africa). A content analysis was carried out to obtain environmental disclosure and reporting score, while static panel regression model was used to analyse the data. Findings revealed that board committee has a significant influence on EAR in the African countries, board diversity in Kenya and Nigeria, board size in South Africa and Nigeria, board independence in Egypt and Kenya, and institutional ownership in Nigeria, Egypt and South Africa were found to have significant influence on EAR. This result implies that extant laws and codes on corporate governance should be followed, and most importantly, other countries studied should emulate South Africa and adopt integrated reporting and application of Global Reporting Initiative (GRI) index score in their corporate reporting. [ABSTRACT FROM AUTHOR]

We explored the relationship between board characteristics and sustainability of higher education institutions in the United Kingdom (UK). We analysed 153 UK universities using data for the year 2019. Our analysis revealed that board size, the number of students on the board, and the number of academic members on the board were found to have significant and positive relationships with sustainability. Also, the composition of the sustainability committee was shown to have a significant and positive impact on sustainability score. However, the relationships between board gender diversity, the number of external members on the board, and the number of board meetings held during the year with sustainability score were not significant. The results provide guidance to universities for developing their sustainability practices. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the role of corporate governance on the bank profitability of Indian banks vis-à-vis South Asian Association for Regional Cooperation (SAARC) nations. Design/methodology/approach: For the Corporate Governance Index, the authors examined board accountability, transparency and disclosure and audit committee, while Tobin's Q, return on equity and return on assets are used to measure the bank's profitability. The study used a two-stage analysis based on balanced panel data for robust findings. Sample of this study consists of 60 commercial banks from India and 60 banks from SAARC nations for the period of 2009–2021. This study used panel regression and a generalized method of moment approach using the CAMELS framework on banking industry-specific variables to determine their respective impacts. Findings: The findings of this study suggest that board accountability is positive and significantly affects the profitability of banks as indicated by return on assets, return on equity and Tobin's Q. In contrast, the audit committee has a positive and insignificant impact on return on assets, return on equity and Tobin's Q, while transparency and disclosure have a negative and significant impact on these metrics. Furthermore, the country dummy result shows a significant positive impact on all the bank performance parameters, implying that Indian banks have the highest degree of convergence with corporate governance as compared to other SAARC nations. Research limitations/implications: This study provides insight to the regulators, policymakers and financial institutions to evaluate the role of corporate governance in emerging economies. However, the findings of the study should be interpreted with caution, as the results are sensitive to the disparity between India and other SAARC nations' government policies, climatic circumstances and cultural or religious traditions. Originality/value: To the best of the authors' knowledge, this is the first attempt to gauge the performance of Indian banks vis-à-vis SAARC nations using the CAMELS framework approach. Further, findings of this study suggest some novel evidence tying corporate governance quality with the profitability of banks among SAARC nations. [ABSTRACT FROM AUTHOR]

The purpose of this study was to examine the key determinants of corporate governance in selected financial institutions. Using South African financial institutions as a unit of analysis, namely insurance companies and banks, the study employed a panel generalised method of moments (GMM) model using a data set for the period from 2007 to 2020, to assess key determinants of corporate governance proxies identified for the study. The study sampled 21 South African financial institutions composed of Johannesburg Securities Exchange (JSE) listed and unlisted banks and insurance companies. To measure corporate governance, the study developed a composite index employing the principal components analysis (PCA) method. The findings revealed a positive and significant association between the corporate governance index and its lagged variables. Furthermore, a significant and positive link was found between the efficiency ratio and corporate governance index and capital adequacy ratio (CAR); corporate governance index and firm size; corporate governance index and leverage ratio (LEV); and corporate governance index and return on assets (ROA). However, a negative and significant correlation was found between financial stability and the corporate governance index. The link between return on equity (ROE) and corporate governance was insignificant. A small cohort of financial institutions was excluded because it was challenging to obtain complete annual reports to extract the required data. The study was limited to only five corporate governance measures, namely board diversity, board size, board composition (independent non-executive directors and non-executive directors), and board remuneration. The findings are anticipated to persuade developing countries to pay special attention to how corporate governance is measured. [ABSTRACT FROM AUTHOR]

Purpose: The intensity of carbon emissions has led to the serious problem of global warming, and the consequences in terms of climatic disasters are gaining increasing attention worldwide. As the energy sector is responsible for most global emissions, developing clean energy is crucial to combat climate change. This study aims to examine the relationship between corporate governance and renewable energy (RE) consumption and explore the interaction between RE production and RE use. Design/methodology/approach: The study adopts an econometric framework of a panel model, followed by the robustness check using alternative methods, including logit regressions. The bivariate probit model is used to analyze the interaction between the decision to use and the decision to produce RE. The analysis is based on a sample of 3,896 firms covering 45 countries worldwide. Findings: The results reveal that appropriate governance mechanisms positively impact RE consumption. These include the existence of a sustainability committee; environmental, social and governance-based compensation policy; financial performance-based compensation; sustainability external audit; transparency; board gender diversity; and board independence. Firms with appropriate governance mechanisms are more likely to produce and use RE than others. Finally, while RE use positively impacts firm value and environmental performance, the authors find no significant effect on current profitability. Originality/value: This study goes beyond previous research by exploring the impact of multiple governance mechanisms. To the best of the authors' knowledge, this is also the first study examining the relationship between RE use and firm value. Overall, the findings suggest that RE transition requires, first of all, establishing appropriate governance mechanisms within companies. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to investigate the impact of extensive board diversity on firm performance from the perspective of resource-based view (RBV) theory in the context of Pakistan. Design/methodology/approach: The analyses are made using a panel random-effects model and generalized method of moment (GMM) across 188 non-financial firms listed in the Pakistan Stock Exchange (PSX) over the period of 2009–2020. The robustness of findings is checked through alternative measurements of the variables and alternative estimation techniques. Findings: The results show that board members' nationality, ethnicity and educational level diversities are significantly positively related to firm performance. In contrast, age and educational background diversities negatively affect firm performance. However, gender and tenure diversities have an insignificant relationship with firm performance. Research limitations/implications: This study is conducted in the context of Pakistani firms; thus, the findings may not be generalizable to other economies because different economies have different institutional settings and governance structures. Practical implications: The policy-makers should encourage the inclusion of board members' nationality, ethnicity and educational level diversities having relevant educational backgrounds to improve firms' competitive performance. The suggested structure of the corporate board may improve firm performance by attracting multiple stakeholders and fulfilling their expectations. Social implications: The appointment of a director should be based on merit rather than on political connections or personnel relationships to improve social welfare and avoid their negative impact on firm competitive performance. Originality/value: To the best of the authors' knowledge, this is the first study that investigates the impact of board diversity on firm accounting-based performance and market-based performance in the emerging economy of Pakistan. This study uses RBV theory to provide a unique corporate governance structure based on board diversity, particularly in Pakistan. [ABSTRACT FROM AUTHOR]

This paper examines whether sustainability committees curb environmental decoupling. Using a global sample, we document a negatively significant association between sustainability committee and environmental decoupling. These results support the notion that sustainability committees lower the gap between firms actual and reported environmental performance. With regard to the composition of such a committee, we show that size and tenure are positively associated with the level of environmental decoupling. However, more independent and gender‐diverse committees lower the level of environmental decoupling. Further analysis shows that documented relationship is not subject to the firms' corporate governance quality or industry nature. We also document that less engagement of firms with sustainability committee in decoupling practices tend to enhance their financial performance. The results are robust to endogeneity concerns, and several robustness tests. Our findings offer important implications for academic researchers, consultants, stakeholders, and policymakers. [ABSTRACT FROM AUTHOR]

One of the primary contributors to global climate change that may threaten human survival is carbon emissions. As a result, businesses must consider how their actions including carbon emissions affect the environment. Carbon emissions are one of the main causes of global climate change, which can endanger human survival. Therefore, companies need to pay attention to the impact of their activities on the environment, including carbon emissions. Disclosure of carbon emissions by companies is becoming increasingly important because it can affect the company's image in the eyes of the public and investors. The study aims to analyze the impact of environmental performance, corporate governance, and financial performance on the disclosure of carbon emissions by manufacturing companies listed on the Indonesian Stock Exchange for the period 2020-2022. This research uses purposive sampling. The research data obtained came from the Indonesian Stock Exchange and the company's website, and data analysis techniques were used using regression analysis. The results of this study showed that environmental performance and financial performance affected carbon disclosure, while corporate governance variables did not affect carbon emissions. [ABSTRACT FROM AUTHOR]

Responding to the calls in both earnings management and sustainability literature to examine corporate governance patterns, this study fills the sustainability literature gap by shedding light on the moderating role of corporate governance on earnings management and environmental, social and governance performance. Using a sample of UK firms listed on the London Stock Exchange for the period 2016–2020, we find considerable evidence that earnings management reduces environmental, social and governance performance. Importantly, we find that board gender diversity among other corporate governance mechanisms is stronger and more effective in attenuating the negative effects of earnings management on environmental, social and governance performance significantly. We find support for the agency theory that corporate governance mechanisms reduce the managerial exploitation of resources required for sustainable investments and sustainability performance. [ABSTRACT FROM AUTHOR]

We build on and extend the literature on corporate governance and sustainability by examining whether indigenous directors (IDs, hereinafter) shape corporate environmental performance (CEP, hereinafter). Drawing insights from image motivation, resource dependence, and critical mass theories, we develop models that link IDs with CEP. Analyzing 1,372 firm‐year observations extracted from firms listed on the Johannesburg Securities Exchange (JSE, hereinafter), for the period spanning from 2015 to 2021, we provide robust evidence that IDs are positively associated with a firm's environmental performance and the association is driven primarily by non‐executive and female IDs. In additional analyses, we demonstrate that a token appointment of IDs to a firm's board would not have an impact on CEP, while the appointment of a "critical mass" of IDs promotes CEP. We also find that a higher percentage of IDs on a firm's board increases corporate financial performance (CFP, hereinafter) and reinforces the positive impact of CEP on CFP. Our findings suggest that appointing a higher proportion of IDs to a firm's board promotes both the financial as well as the environmental performance of the firm. Thus, companies could exploit the virtues of especially non‐executive and female IDs to promote corporate environmental sustainability. [ABSTRACT FROM AUTHOR]

This study examines whether corporate commitment to climate change is driven by country‐level factors related to cultural values and the legal system (LS) of a country. We also investigate the impact of corporate governance strength on climate change commitment and the extent to which there are moderating effects between corporate governance and cultural and LS influences. We use a large dataset of 21,564 firm‐year observations of companies operating in the United States, UK, and China for the period 2013 to 2020 and develop a unique measure for climate change commitment using different proxies for measuring climate change practices. We find variations in climate change commitment among the three countries and that cultural values and LSs affect corporate commitment to climate change. Companies located in a socially oriented society, which are transparent and characterized by long‐term orientation, are more strongly involved in climate change actions. The strength of corporate governance increases corporate commitment to climate change. Corporate governance also moderates some of the detrimental cultural influences on climate change commitment. These findings have implications for managers as they reveal that macro‐level factors affect behavior and that corporate governance can help to moderate these factors. [ABSTRACT FROM AUTHOR]

Amidst the growing emphasis on sustainable development, there is an emerging trend of companies actively pursuing the transition towards sustainability. This shift is driven by various factors, including heightened societal scrutiny and a greater focus on environmental, social, and governance (ESG) considerations. As a result, companies are increasingly acknowledging the significance of incorporating sustainable practices into their operations to align with the expectations of the capital market. This paper investigates the association between ESG disclosures and stock price crash moderated by corporate governance (board size, independence, and gender diversity) for Saudi firms. Using a fixed effects regression method, we find that the coefficient of ESG is significant and negative (−0.0043 for NCSKEW and − 0.0006 for DUVOL) indicating a positive influence of ESG in diminishing stock price crash. The results also show that corporate governance positively and significantly moderate the ESG‐stock price crash risk. As additional analyses, we find a significant negative relationship between each aspect of ESG including social responsibility, environmental activities and governance practices and stock price crash risk. Moreover, the pandemic COVID‐19 has a dampening effect on the ESG‐stock price crash association. To ensure the validity of these conclusions, dynamic GMM models were employed to tackle any potential endogeneity issues, making the results even more robust. Our findings highlight that improving corporate sustainability positively impacts the stability of companies' stock prices. This study provides valuable insights and perspectives from the context of Saudi Arabia and offers theoretical and managerial implications that are relevant for policymakers and investors. [ABSTRACT FROM AUTHOR]

This study builds on the expanding literature on the interplay of corporate governance and corporate environment behaviour following the introduction of the carbon reporting directives of the UK Companies Act in 2013. We specifically focus on seeking clarity on the relationship between gender diversity, board independence, and board size with corporate environmental performance. The study examines these relationships under a mandatory nonfinancial reporting (NFR) requirement and tests the impact of regulatory shocks on board composition and channels affecting carbon emission. The findings confirm that board gender diversity and independence improve a firm's environmental performance. And while larger board sizes lead to larger environmental investments, the study finds that larger board sizes leads to poor environmental performance for the firm. The findings contribute to developments in countries, such as the United States, where there is an ongoing debate on the adoption of a mandatory NFR of carbon and the response of corporate boards. [ABSTRACT FROM AUTHOR]

Copyright of Jurnal Reviu Akuntansi dan Keuangan (JRAK) is the property of Universitas Muhammadiyah Malang and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The issue of diversity within the boards of directors (BoD) of companies is a key topic; however, it is still highly focused on gender diversity. In this study, several elements of BoD diversity are related to economic variables other than profitability, namely corporate growth, by analysing the fifth annual Financial Times (FT) 1000 ranking based on the Compound Annual Growth Rate (CAGR). These results indicate that gender diversity does not affect corporate growth. Instead, the BoD's age and members' educational levels play a key role. [ABSTRACT FROM AUTHOR]

Purpose: Relying on the stakeholder view, this study investigates the role of CSR committee in moderating the association between CSR and firm performance (FP). Further, the authors examine whether country-specific governance and institutional factors drive the effect of CSR committee on the CSR-FP association. Design/methodology/approach: The study's sample includes 4405 firms from 39 countries over the period 2002–2020. For analysis, ordinary least squares (OLS) regression with year and firm fixed effects is employed as the primary econometric model. Two-step generalized method of movement (GMM) is employed to address the endogeneity issues. Findings: This study provides international evidence that the existence of a CSR committee enhances CSR's contribution to FP. Moreover, the benefits of CSR committees in terms of enhancing the positive impact of CSR on FP are significantly greater in strong governance countries and in environmentally less sensitive industries. The findings are further checked through endogeneity and robustness tests and remain unchanged. Practical implications: CSR committee is a key governance mechanism that assists firms in generating value from their CSR activities. It strengthens a firm's relations with the stakeholders via an effective CSR channel, which translates into improved FP and long-term value. Originality/value: The study is the first attempt to investigate the role of CSR committee, as a corporate governance mechanism, in explaining the relationship between CSR and FP in the international context. Further, the study also found that the role of CSR committee in enhancing CSR's outcomes largely depends on country-specific governance factors and the nature of industries. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine whether corporate governance mechanisms – board size, board independence and CEO duality – influence the actions of oil companies operating in Nigeria to clean up oil spills from their facilities. Design/methodology/approach: Both binary logistic regression (linear) and random-effects logistic regression models were used to test three hypotheses using a unique data set of 1,262 oil spill events involving 24 oil companies from 2017 to 2019. Findings: The study found that board size and board independence are positively related to oil spill cleanup. Practical implications: Private oil companies in Nigeria should encourage larger and more independent boards in their corporate governance (CG) structures, as these boards may be more effective in serving the interests of stakeholders by bringing diverse knowledge and experience to the boards. Similarly, regulators should extend the enforcement of CG codes to private firms. Originality/value: To the best of the authors' knowledge, this is the first study that investigates the influence of CG attributes on oil spill cleanup. [ABSTRACT FROM AUTHOR]

Purpose: Motivated by lack of empirical research on sukuk (Islamic bonds) defaults and factors influencing the credit risk in sukuk industry, the study investigates the impact of corporate governance (CG) practices and corporate social sustainability (CS) disclosures on default risk of Islamic bonds in an emerging market. Design/methodology/approach: In the Malaysian context the authors use generalized method of moments (GMM) to examine the mitigating effect of CG structure and CS disclosures on distance to default (DD) of sukuk issuers. Findings: The results show that although both CG and CS have a significant and positive relationship with distance to default, the contribution of CS to augment DD is higher. Moreover, different CG variables have a varied relationship with distance to default, while the association is positive for all three pillars of CS, videlicet economic, social and environmental sustainability. Practical implications: The findings of the study hold important implications for issuers, subscribers and regulators in the sukuk industry. Originality/value: Limited research investigates the relationship between CG, CS and default risk of Islamic bonds. In light of this, the study attempts to fill the theoretical void in literature by examining the relationship among the underlying variables. [ABSTRACT FROM AUTHOR]

Purpose: In recent years, European banks have been required to integrate environmental and social objectives into their business practices. At the same time, they have become increasingly exposed to environmental, social and governance (ESG) controversies. This paper empirically examines the relationship between the board characteristics of banks (i.e. size, gender diversity, meeting frequency, sustainability compensation incentives and the presence of a sustainability committee) and exposure to ESG-related controversies. Design/methodology/approach: The empirical analysis focuses on a sample of 61 European banks between 2012 and 2021. Employing generalized method of moments (GMM) estimation, the authors examine the relationship between board characteristics and ESG controversies. Findings: The results of the study indicate that banks featuring certain board characteristics (i.e. larger and more gender-diverse boards, facing sustainability compensation provisions and having sustainability committees) experience lesser exposure to ESG controversies. Additionally, the authors ascertain that prior instances of ESG controversies play a role in influencing current levels of such controversies. This result highlights the relevance of a bank's historical trajectory. Research limitations/implications: The authors' sample contains banks based in the European Union (EU). Future research should broaden the analysis to encompass banks operating in other advanced countries, as well as in emerging countries. This expansion would offer more insights into the relationship between board characteristics and ESG controversies under different regulatory frameworks. Practical implications: The authors' findings provide relevant implications for several stakeholders, including shareholders, regulators and supervisors. Certain board characteristics should be taken into consideration to limit exposure to ESG controversies. Originality/value: To the best of the authors' knowledge, this paper represents the first attempt to provide evidence of the link between strong corporate governance standards and reduced exposure to ESG controversies. [ABSTRACT FROM AUTHOR]

Over recent decades, numerous financial crises have affected the global economy, which were caused by the lack of ethical values and conflicts of interest amongst the leaders of organisations. To protect organisations and their interest groups, regulators have developed norms to discourage and prohibit unethical practices through promotion of good practices of corporate governance. However, the literature on good corporate governance practices focuses mainly on developed economies without considering the challenges of developing countries. Therefore, this research proposes an index to measure the degree of adherence to good corporate governance practices in an emerging economy, like Chile, and estimate its effect on the financial performance of companies. Through a panel analysis, this research provides evidence that shows the existence of a positive and significant relationship between this index and financial performance of organisations, as well as a persistence of its benefits over time when companies adopt good practices. [ABSTRACT FROM AUTHOR]

This article explores the effects of forensic accounting techniques and corporate governance on the financial performance of listed deposit money banks in Nigeria. The study finds that transparency and reporting mechanisms are crucial in deterring fraudulent activities and safeguarding financial performance. The document also discusses the relationship between forensic accounting, corporate governance, and financial performance in the banking sector, highlighting the importance of implementing robust forensic accounting practices and effective corporate governance mechanisms. The study recommends that banks prioritize fraud case disclosure, improve compliance with anti-fraud measures, carefully evaluate board sizes, prioritize board independence, and assess ownership structures to enhance financial performance. Additionally, the document provides a list of references and citations from various academic articles and studies related to corporate governance, forensic accounting, and financial performance. [Extracted from the article]

This study explores the impact of board effectiveness on cybersecurity-related disclosure. Based on a sample of 300 firm-years consisting of the largest Canadian listed companies over a period of five years, we find evidence that board effectiveness positively affects a firm's decision to disclose cybersecurity information, and board independence and financial expertise have a positive impact on the amount of this disclosure. Independent members of the board, acting as a governance and oversight mechanism, significantly increase the disclosure of cybersecurity risks in the company's financial statements. The board has a fiduciary role to monitor management and board members' financial expertise contributes to risk assessment and management. Cybersecurity, as an emerging governance topic, demands multiple areas of expertise in technical, ethical, and financial areas. Board members should be continually trained to be aware of the evolution and diversification of business risks and should have appropriate skills and competencies to manage them. Our findings shed light on the positive impact of board members' financial expertise on the volume of cybersecurity disclosure. However, board size appears to have no impact on this amount, possibly because few board members have cybersecurity expertise. [ABSTRACT FROM AUTHOR]

Objective: The purpose of this study is to investigate the impact of Environmental, Social, and Governance (ESG) performance on capital structure, using good corporate governance (GCG) as a moderating variable. Design/Methods/Approach: The sample comprises companies listed on the IDX outside the financial sector that issued financial and sustainability reports between 2017 and 2021. The Global Reporting Initiative (GRI) index measures ESG performance, the capital structure is measured by leverage, and the moderating variable of good corporate governance is measured by independent commissioner proportion. The data are analyzed using the OLS regression technique. Findings: According to the estimation results, ESG performance positively affects the capital structure of non-financial enterprises. Furthermore, good corporate governance does not moderate the relationship between environmental, social, governance, and capital structure. Originality/Value: By focusing on ESG performance and capital structure as evaluated in emerging countries, this study adds to existing research on environmental and social performance and its impact on capital structure. Furthermore, GCG is included as a moderating variable in this study. Practical/Policy implication: Based on the findings, it is suggested that firm executives take steps to expand their ESG practices. This ensures sustainability and increases investor and creditor confidence, resulting in more efficient funding sources for the company. [ABSTRACT FROM AUTHOR]

While few studies have examined the role of institutional pressures on sustainable business practices, there is a dearth of empirical research regarding the influence of internal organisational characteristics on sustainability implementation in developing countries. This paper examines internal organisational features and how they influence multinational companies (MNCs) operating in a resource‐rich developing country to embrace and embed sustainability into corporate policies and practices. The findings show that the history of past sustainable practices, the level of internationalisation and managerial cognition internally drive MNCs to implement sustainability in their host countries. We discuss that managerial cognition drives MNCs to embrace sustainability in non‐enabling institutional environments based on private morality and perceived ethical obligation. Accordingly, we have proposed a holistic theoretical framework for sustainability implementation based on external drivers, institutional voids and complexity and the moderating role of internal organisational features. [ABSTRACT FROM AUTHOR]

The United Nations' Sustainable Development Goals persuade governments and businesses to fight modern slavery as part of the 2030 Agenda for Sustainable Development. The UK government took the initiative by introducing the Modern Slavery Act in 2015. Despite this, little is known about how companies disclose information about their efforts to tackle modern slavery as required by the Act and the role of corporate governance as a determinant of modern slavery disclosure (MSD) levels. This study, therefore, investigates the extent to which companies engage in MSD and empirically examines the impact of board gender diversity (BGD) on MSD. Based on a content analysis of FTSE 100 companies' modern slavery statements during the 2016–2020 period, we find that MSD improved over time but is still relatively low. Our results show that companies pay less attention to the core practices of modern slavery, such as key performance indicators (KPIs), due diligence procedures, risk assessment and management, and training. This evidence suggests that companies tend to comply with the Act by focusing largely on symbolic structures rather than providing a comprehensive disclosure of their impacts on modern slavery practices to minimise regulatory risks and manage stakeholders' perceptions. We also find that boards with greater female representation have a positive and significant association with MSD. This finding is consistent with the gender socialisation theory in that women are more sensitive to communal values and ethics. Consequently, companies with a greater proportion of female directors are more transparent about their strategies and actions related to fighting modern slavery. Furthermore, a critical mass of at least four female directors is necessary before any positive impact on MSD can be observed. Our findings shed new light on this under‐researched area and the role of female directors in addressing modern slavery risk and can be of interest to companies, policymakers, and other stakeholders. [ABSTRACT FROM AUTHOR]

This study aims to examine the effects of board mechanisms (board size, board independence, board gender, board educational background, board tenure, foreign directors on board, board leadership–CEO duality, board sub-committees, frequency of board meetings and CEO power) on the sustainability performance (SP) of listed Sub-Saharan Africa (SSA) firms during 2010–2019. The study employed a two-step system generalized method of moments (GMM) estimation technique to test the hypothesised relationships among the variables. The results indicate that a positive and significant relationship exists between board tenure and environmental and economic SP. Board size and frequency of board meetings are positively linked with environmental and social SP. Additionally, the number of board sub-committees is positively correlated with social and economic SP. However, the board of directors' educational background is negatively associated with both social and economic SP. Diversely, board independence, educational background, and frequency of board meetings displayed a positive connection with the combined SP. These results suggest that board mechanisms have a significant influence on sustainability performance. Our findings offer useful insights for companies, regulatory bodies, and varied stakeholder groups in SSA countries to promote the connection between board mechanisms and SP beyond the present frontiers because it suggests thinking around specific board mechanisms that meet the demand for greater accountability for sustainability performance. [ABSTRACT FROM AUTHOR]

The publisher of Management Decision wishes to retract the article by Elisa Menicucci, Guido Paolucci (2023) ‘The influence of Italian board characteristics on environmental, social and governance dimensions’, published in Management Decision, Vol. 61 No. 10, pp. 3082-3105, https://doi.org/10.1108/MD-09-2022-1224. It has come to our attention that a large portion of this article is taken, without full and proper attribution, from an earlier work by Elisa Menicucci, Guido Paolucci (2022) ‘Board Diversity and ESG Performance: Evidence from the Italian Banking Sector’, Sustainability, Vol. 14 No. 20, 13447, https://doi.org/10.3390/su142013447. The submission guidelines for Management Decision make it clear that articles must be original. The authors would like it to be noted that they are not in agreement with this retraction. The publisher of the journal sincerely apologizes to the readers.

Purpose: The main goal of this paper is to study the influence of some corporate governance, corporate social responsibility (CSR), and corporate-specific characteristics on the performance of Iberian-listed companies. Design/methodology/approach: To achieve the paper's aim, the authors have used data from 33 Portuguese-listed companies, and 60 Spanish-listed companies, for the period 2011 to 2018. To test the hypotheses, the authors employed the generalized method of moments (GMM) estimation method, developed by Arellano and Bover (1995) and Blundell and Bond (1998). Findings: The results point out that the performance determinants vary depending on the country under analysis and the variable used to measure performance. Despite being neighbors and historically commercially close, these countries have differences in their governmental, social and economic structure that lead to different stakeholder perceptions on the determinants of corporate performance. Specifically, when the authors use Tobin's Q as a market performance variable, board independence and the existence of a CSR committee have different signs in the two countries. The same happens when return on assets (ROA) is used as an accounting variable for internal management, implying that both, managers and potential investors of the two countries have different understandings about the variables that influence their performance. Originality/value: To the best of the authors' knowledge, this is the first study to comparatively analyze the two countries of the Iberian Peninsula, analyzing the effect of corporate governance and social responsibility characteristics on the performance. The authors' results show that managers and potential investors have different points of view regarding the importance of corporate governance and social responsibility characteristics in corporate performance. [ABSTRACT FROM AUTHOR]

Sustainability is a major challenge in today's business world, making environmental, social and governance criteria an indispensable tool for business management and investment decisions. Using 2020 data of 47 companies from the STOXX Europe Total Market Utilities Index and qualitative comparative analysis, this study aims to analyse how the combination of CO2 equivalent emissions, sustainability compensation incentives, environmental investments, environment management training, and policy fair competition leads to utility companies' stock market returns. Two subsample models (electricity and non‐electricity utilities) have been considered in the study. The results point to the absence of CO2 equivalent emissions, the absence of incentives, and the presence of environmental investment as key variables to lead to stock market returns. The findings provide relevant information for managers and practitioners of utilities industry to achieve improvements in the environmental, social and governance management practices, maintaining profitability in financial markets and facilitating decision‐making for investors. [ABSTRACT FROM AUTHOR]

This study provides an empirical investigation of the impact of Corporate Governance (CG) attributes on the environmental and social aspects of Corporate Social Responsibility (CSR). The dependent variables considered for the description of the environmental and social aspects of CSR were determined using the Refinitiv approach, and through the lens of agency, stakeholder, and resource dependency theories. The independent variables were selected based on the literature and involve eight CG attributes, namely: CSR committee, CEO duality, board meeting attendance, board meetings frequency, non‐executive board members, board gender diversity, board specific skills, and board experience. The employed methodology was evaluated through a sample of dependent and independent variable data of 313 companies across the European region excluding companies from the Eurozone for the period of 2006–2020. A suite of machine learning models was employed for capturing the most important determinants of the environmental and social aspects of CSR. The results reveal that three main corporate governance attributes may have a significant impact on a company's environmental and social performance. These attributes involve more female directors and directors with low board experience in board positions, and finally, the existence of CSR committees. The derived findings provide significant implications for corporate directors, socially responsible investors, policymakers, and regulators that intend to promote CSR initiatives and strategies. [ABSTRACT FROM AUTHOR]

Exploiting a unique measure of takeover vulnerability principally based on state legislations, we investigate how corporate carbon reduction efforts are influenced by the takeover market, which is widely regarded as a crucial instrument of external corporate governance. Our results show that more takeover exposure brings about significantly greater efforts to reduce carbon emissions. A rise in takeover susceptibility by one standard deviation improves carbon reduction performance by 12.81%. The findings corroborate the notion that the takeover market, acting as an external governance mechanism, compels managers to adopt policies that benefit shareholders in the long run. Our results imply that carbon emissions are a crucial corporate outcome as it is subject to the pressure from the takeover market. Companies should pay a close attention to this matter. Further analysis robustly validates the results, including propensity score matching, entropy balancing, an instrumental variable analysis, and heteroscedastic identification. Our measure of takeover vulnerability is plausibly exogenous and thus probably reveals a causal effect, rather than a mere association. [ABSTRACT FROM AUTHOR]