Corporate sustainability, corporate governance mechanisms and the choice of firms to comply with sustainability reporting guidelines
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2019-07-01
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en
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Abstract
This study explores the pressures arising from corporate governance mechanisms and its effect on the compliance with sustainability reporting guidelines for 1056 firms for the time period 2013-2017. A distinction is made between direct effects and indirect effects through corporate sustainability performance. The results show that the sustainability committee and stakeholder engagement positively influence the compliance both directly and through CSP. The board of directors, as a major internal corporate governance mechanism, only positively influences compliance through CSP. The results failed to show that the board of directors influences the compliance. External assurance is positively related to compliance as well, however the results found no evidence supporting that high quality is important in further unraveling the relationship towards compliance. This study posits that in absence of a mandatory sustainability reporting regime, corporate governance mechanisms provide pressure on firms to be held accountable for their actions and decisions regarding sustainability reporting guidelines.
Keywords: Compliance with sustainability reporting guidelines, corporate sustainability performance, corporate governance mechanisms
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Faculteit der Managementwetenschappen