The effects of corporate governance mechanisms on voluntary corporate carbon disclosures: evidence from the emerging economy

IF 1.8 Q2 ECONOMICS
Rajib Chakraborty, Sajal Kumar Dey
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Abstract

PurposeThis study examines the effects of corporate governance mechanisms on voluntary corporate carbon disclosure in Bangladeshi firms.Design/methodology/approachTo investigate the association between corporate governance mechanisms and corporate carbon disclosures, this study employs ordinary least square (OLS) methods. To mitigate the potential endogeneity concerns, the authors also introduce firm fixed effect (FE) and random effect (RE). Primarily, the study sample includes 250 firm-year observations over the period 2015–2019 for listed companies on the Dhaka Stock Exchange (DSE) in Bangladesh. Subsequently, corporate governance mechanisms that influence voluntary carbon disclosure were examined using both univariate and OLS models.FindingsThe findings of this study suggest that firms with a larger board size and more independent directors have a positive impact on the firm's intensity to disclose carbon-related information. However, no evidence has been found of the existence of an environmental committee, and the presence of female directors on the board tends to be associated with a higher level of voluntary corporate carbon disclosure.Originality/valueThe study offers necessary evidence of the determinants of corporate carbon disclosures, which will be useful for managers, senior executives, policymakers and regulatory bodies. To improve corporate governance practices and formulate separate sets of regulations and reporting criteria, disclosing extensive and holistic carbon-related information obligatory. Further, the outcomes of this study based on Bangladeshi firms can be comprehensive for other developing countries to take precautions to tackle the effect of global climate change.
公司治理机制对企业自愿碳披露的影响:来自新兴经济体的证据
目的探讨公司治理机制对孟加拉国企业自愿碳信息披露的影响。设计/方法/方法为了研究公司治理机制与公司碳披露之间的关系,本研究采用普通最小二乘法(OLS)方法。为了缓解潜在的内生性问题,作者还引入了企业固定效应(FE)和随机效应(RE)。首先,研究样本包括孟加拉国达卡证券交易所(DSE)上市公司在2015-2019年期间的250家公司年观察结果。随后,利用单变量模型和OLS模型对影响自愿碳披露的公司治理机制进行了研究。研究结果表明,董事会规模越大、独立董事越多的公司对碳相关信息披露强度有正向影响。然而,没有证据表明环境委员会的存在,董事会中女性董事的存在往往与更高水平的企业自愿碳披露有关。独创性/价值本研究为企业碳披露的决定因素提供了必要的证据,这将对管理者、高管、政策制定者和监管机构有用。完善公司治理实践,制定单独的法规和报告准则,强制披露广泛而全面的碳相关信息。此外,这项基于孟加拉国企业的研究结果可以为其他发展中国家采取预防措施应对全球气候变化的影响提供全面的参考。
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
CiteScore
1.80
自引率
5.60%
发文量
83
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