The Effect of Corporate Governance Mechanisms on Corporate Biodiversity Disclosure
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2024-07-08
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en
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Abstract
This study investigates the relationship between corporate governance mechanisms and corporate biodiversity disclosure, contributing to the limited research in this area. Interaction effects between corporate governance mechanisms are included to gain a deeper understanding of these relationships. A panel data regression is conducted on an international sample of 1,554 listed firms between 2010 and 2022 to test the hypotheses. The empirical findings indicate that board tenure positively impacts biodiversity disclosure only in the model without interaction terms, while board gender diversity has a positive effect when firms lack active stakeholder engagement, providing limited support for the resource dependency theory. Stakeholder engagement, CSR committees and their interaction have a significant positive effect on corporate biodiversity disclosure, supporting the stakeholder theory. Interestingly, board gender diversity negatively influences the positive impact of stakeholder engagement overall but shows a small positive effect from 2016 to 2022. These results suggest that firms should focus on active stakeholder engagement and establish CSR committees to improve biodiversity disclosure practices. The study highlights several limitations and calls for future research on region-specific datasets and alternative biodiversity disclosure metrics.
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Faculteit der Managementwetenschappen