The brain gain of corporate boards and green commitment: evidence from China

IF 3.5 Q1 BUSINESS, FINANCE

Meditari Accountancy Research Pub Date : 2024-01-16 DOI:10.1108/medar-02-2023-1924

Muhammad Jameel Hussain, Dongfang Nie, Adnan Ashraf

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引用次数: 0

Abstract

Purpose Foreign directors from developed nations are significant brain gains for Chinese firms because they improve board competency and board diversity. Therefore, the purpose of this study is to explore the relationship between foreign directors from developed countries on Chinese listed firms and firms’ green commitment. Design/methodology/approach For the empirical analysis, first, this study applies ordinary least square regression and firm fixed model to explore the relationship between foreign directors and green commitment. For the endogeneity concerns, this study first added more control variable in the main model, then applied instrumental variable approach and propensity score matching technique. Findings This study predicts and finds that percentage of foreign directors from developed countries on Chinese listed firms’ board positively enhances the firms’ green commitment. Furthermore, this study also finds that the positive relationship between foreign directors and firms’ green commitment is more significant when firms are in a low competitive industry, have no financial constraints and are overseas-listed. This study’s findings are robust after controlling for endogeneity concerns. Originality/value This is new research on the impact of foreign directors on corporate green commitment.

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企业董事会的人才增益与绿色承诺：来自中国的证据

目的来自发达国家的外籍董事能够提高董事会的能力和多样性，对中国企业而言是一项重要的人才增益措施。因此，本研究旨在探讨中国上市公司中来自发达国家的外籍董事与公司绿色承诺之间的关系。设计/方法/途径在实证分析中，本研究首先运用普通最小二乘法回归和公司固定模型来探讨外籍董事与绿色承诺之间的关系。针对内生性问题，本研究首先在主模型中加入了更多控制变量，然后运用工具变量法和倾向得分匹配技术进行分析。研究结果本研究预测并发现，来自发达国家的外籍董事在中国上市公司董事会中的占比会正向提升公司的绿色承诺。此外，本研究还发现，当企业处于低竞争行业、无财务约束且在海外上市时，外籍董事与企业绿色承诺之间的正相关关系更为显著。在控制了内生性问题后，本研究的结论是稳健的。原创性/价值这是一项关于外国董事对企业绿色承诺影响的新研究。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Meditari Accountancy Research BUSINESS, FINANCE-

CiteScore

7.80

自引率

14.30%

发文量

期刊介绍： Meditari Accountancy Research (MEDAR). MEDAR takes its name from the Latin for constantly pondering, suggesting a journey towards a better understanding of accountancy related matters through research. Innovative and interdisciplinary approaches are encouraged. The journal is a double blind refereed publication that welcomes manuscripts using diverse research methods that address a wide range of accountancy related topics, where the terms accountancy and accounting are interpreted broadly. Manuscripts should be theoretically underpinned. Topics may include, but are not limited to: Auditing, Financial reporting, Impact of accounting on organizations, Impact of accounting on capital markets, Impact of accounting on individuals, Management accounting, Public sector accounting, Regulation of the profession, Risk management, Social and environmental disclosure, Impact of taxation on society, Accounting education, Accounting ethics.