Meditari Accountancy Research最新文献

{"title":"Do female chief financial officers and female directors cooperate? Evidence from investment efficiency","authors":"Ismaanzira Ismail, Effiezal Aswadi Abdul Wahab","doi":"10.1108/medar-01-2023-1884","DOIUrl":"https://doi.org/10.1108/medar-01-2023-1884","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to examine whether the cooperation between female chief financial officers (CFO) and the proportion of female directors would impact investment efficiency. The investigation is grounded in the increasing number of female top managers globally and the notion that female tends to cooperate more with other female than with male.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This study uses publicly listed firms in Bursa Malaysia from 2016 to 2020, which yielded a sample of 2,022 firm-year observations. The authors used multivariate ordinary least square regression to test the relationship, and to correct for the selection bias, the Heckman selection and PSM test were used.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The authors find a positive relationship between female CFOs and investment efficiency. A higher proportion of female directors accentuates this result. The findings support the homophily argument that similar characteristics (gender) promote cooperation. This shows that cooperation between female CFOs and directors improves investment efficiency. The results suggest that the improvement in investment efficiency could relate to higher managerial discretion for female CFOs and their ability to collaborate with female directors. These results are robust to a series of additional endogeneity tests. The findings have important implications for policymakers and firms to encourage more appointments of females in top management positions.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>By highlighting the cooperation between female CFOs and female directors, this study contributes to the understanding that cooperation among females improves investment efficiency.</p><!--/ Abstract__block -->","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2024-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139481917","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Integrating sustainability in management control systems: an exploratory study on Italian banks","authors":"Paola Ferretti, Cristina Gonnella, Pierluigi Martino","doi":"10.1108/medar-03-2023-1954","DOIUrl":"https://doi.org/10.1108/medar-03-2023-1954","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>Drawing insights from institutional theory, this paper aims to examine whether and to what extent banks have reconfigured their management control systems (MCSs) in response to growing institutional pressures towards sustainability, understood as environmental, social and governance (ESG) issues.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The authors conducted an exploratory study at the three largest Italian banking groups to shed light on changes made in MCSs to account for ESG issues. The analysis is based on 12 semi-structured interviews with managers from the sustainability and controls areas, as well as from other relevant operational areas particularly concerned with the integration process of ESG issues. Additionally, secondary data sources were used. The Malmi and Brown (2008) MCS framework, consisting of a package of five types of formal and informal control mechanisms, was used to structure and analyse the empirical data.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The examined banks widely implemented numerous changes to their MCSs as a response to the heightened sustainability pressures from regulatory bodies and stakeholders. In particular, with the exception of action planning, the results show an extensive integration of ESG issues into the five control mechanisms of Malmi and Brown’s framework, namely, long-term planning, cybernetic, reward/compensation, administrative and cultural controls.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>By identifying the approaches banks followed in reconfiguring traditional MCSs, this research sheds light on how adequate MCSs can promote banks’ “sustainable behaviours”. The results can, thus, contribute to defining best practices on how MCSs can be redesigned to support the integration of ESG issues into the banks’ way of doing business.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Overall, the findings support the theoretical assertion that institutional pressures influence the design of banks’ MCSs, and that both formal and informal controls are necessary to ensure a real engagement towards sustainability. More specifically, this study reveals that MCSs, by encompassing both formal and informal controls, are central to enabling banks to appropriately understand, plan and control the transition towards business models fully oriented to the integration of ESG issues. Thereby, this allows banks to effectively respond to the increased stakeholder demands around ESG concerns.</p><!--/ Abstract__block -->","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2024-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139515555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Comprehensive board composition and corporate social responsibility disclosure: a case of Jordan before and after the Arab Spring crisis","authors":"Esam Emad Ghassab, Carol Tilt, Kathyayini Kathy Rao","doi":"10.1108/medar-03-2023-1948","DOIUrl":"https://doi.org/10.1108/medar-03-2023-1948","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this paper is to examine the impact of social movements engendered by the Arab Spring crisis on the relationship between corporate social responsibility disclosure (CSRD) and corporate governance attributes, particularly board composition, considering the importance of governance after the Arab Spring event.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Content analysis was used to examine the extent and nature of CSRD in annual reports of Jordanian companies listed on the Amman Stock Exchange covering the period 2009–2016. A dynamic regression model using panel data is then undertaken for a sample of 114 listed companies over the period to analyse the potential impact of board composition on the level of CSRD.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results reveal that there was a significant increase in the level of CSRD post-the Arab Spring crisis; and that governance appears to be a key driver. Specifically, board age, directors educated in business and/or accounting-related fields and foreign members are found to have a significant positive relationship with CSRD.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Looking at the Arab region pre- and after the Arab Spring helps to complete the global picture of how company governance can lead to improved CSR performance. Specifically, this region has been behind in developing rules and codes that include CSR. The results show that having a diverse board, with directors with expertise specific to the context, increases the effectiveness of stakeholder management through CSRD. The results, therefore, offer valuable insights for companies, policymakers and for the development of regulations.</p><!--/ Abstract__block -->","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2024-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139481634","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The brain gain of corporate boards and green commitment: evidence from China","authors":"Muhammad Jameel Hussain, Dongfang Nie, Adnan Ashraf","doi":"10.1108/medar-02-2023-1924","DOIUrl":"https://doi.org/10.1108/medar-02-2023-1924","url":null,"abstract":"Purpose\u0000Foreign 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.\u0000\u0000Design/methodology/approach\u0000For 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.\u0000\u0000Findings\u0000This 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.\u0000\u0000Originality/value\u0000This is new research on the impact of foreign directors on corporate green commitment.\u0000","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2024-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139619828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Mandatory CSR regulations and social disclosure: the mediating role of the CSR committee","authors":"Dhanushika Samarawickrama, Pallab Kumar Biswas, Helen Roberts","doi":"10.1108/medar-03-2023-1950","DOIUrl":"https://doi.org/10.1108/medar-03-2023-1950","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to examine the association between mandatory corporate social responsibility (CSR) regulations (CSR mandate) and social disclosures (SOCDS) in India. It also investigates whether CSR committees mediate the relationship between CSR mandate and SOCDS. Furthermore, this paper explores how business group (BG) affiliation moderates CSR committee quality and SOCDS.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This study uses a data set of 5,345 observations from the Bombay stock exchange (BSE)-listed firms over 10 years (2011–2020) to examine the research questions. Baron and Kenny’s (1986) three-step model is estimated to examine the mediating role of CSR committees on the relationship between CSR mandate and SOCDS.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The study reveals that the CSR mandate positively impacts SOCDS in India due to coercive pressures. CSR committees mediate this relationship, with higher CSR committee quality leading to increased SOCDS. Furthermore, the authors report that SOCDS in India is positively related to CSR committee quality, and this relationship is stronger for BG firms. Finally, the supplementary analysis reveals that promoting CSR committee quality enhances firms’ likelihood of meeting CSR mandatory spending and actual CSR spending in India.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This research contributes to the academic literature by shedding light on the intricate dynamics of CSR mandates, CSR committees and SOCDS in emerging economies. Notably, the authors identify the previously unexplored mediation role of CSR committees in the link between CSR mandates and SOCDS. The creation of a composite index that measures complementary CSR committee attributes allows us to undertake a novel assessment of CSR committee quality. An examination of the moderating influence of BG affiliation documents the importance of CSR committee quality, particularly in governance, for enhancing SOCDS transparency within BG firms.</p><!--/ Abstract__block -->","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139421042","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate reputation, cost of capital and the moderating role of economic development: international evidence","authors":"Muhammad Nurul Houqe, Habib Zaman Khan, Olayinka Moses, Arun Elias","doi":"10.1108/medar-03-2023-1951","DOIUrl":"https://doi.org/10.1108/medar-03-2023-1951","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of the study is to examine the impact of corporate reputation (hereafter CR) and the degree of economic development on firms’ cost of capital remains unresolved. This study addresses these issues.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Using a global sample across 20 countries, the study investigates the discrete and joint effects of CR and jurisdictional economic development on the cost of equity (COE) and cost of debt (COD) capital. The analysis encompasses a dual data set, comprising 1,308 observations for COE and 1,223 observations for COD, allowing for a comprehensive exploration of these dynamics.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The findings indicate that CR leads to a reduction in the cost of capital for reputable firms. Nevertheless, the extent of this decrease varies per type of capital and firm’s reputation level and is contingent upon the economic development level within the firm’s jurisdiction. Particularly noteworthy is the moderating effect of economic development on CR, which shows that COE capital tends to be lower for reputable firms operating in economically developed jurisdictions. Albeit, this is not the case for COD capital for reputable firms in similarly developed jurisdictions.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>This study illustrates that effective CR management, aimed at reducing the cost of capital, necessitates a combination of the firm’s unique competitive advantage and the economic development context of its jurisdiction to truly achieve its intended goal.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>To the best of the authors’ knowledge, this is the first global study to explore the impact of CR on both COE and COD capital. Furthermore, this study is primarily towards understanding the moderating role of economic development in the relationship between CR and cost of capital.</p><!--/ Abstract__block -->","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139372966","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Looking within: cultivating compassion for shaping sustainable mindsets in accounting education","authors":"Lisa Powell, Nicholas McGuigan","doi":"10.1108/medar-07-2023-2082","DOIUrl":"https://doi.org/10.1108/medar-07-2023-2082","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to explore the role of individual inner dimensions in fostering sustainable mindsets in accounting students and graduates. Individual inner dimensions such as compassion shape our behaviour and responses to sustainability challenges. Consideration of inner dimensions, in conjunction with sustainability knowledge and skill development, is needed for reshaping the accounting profession towards achieving sustainable futures.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The authors explore the role of individual inner dimensions in accounting and how approaches to cultivating compassion in other disciplinary educational settings could be applied to cultivate and facilitate compassion within accounting education. Approaches to cultivating compassion for human and non-human species within accounting education are presented, highlighting their relevance to accounting decisions and organisational accountability.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Cultivating compassion for human and non-human species within accounting education aligns with the broader role of accounting in social and environmental issues. Embedding compassionate approaches with a problem-solving focus within accounting pedagogies and curricula design could contribute to shaping behaviour and reorienting the mindsets of future accounting professionals.</p><!--/ Abstract__block -->\u0000<h3>Social implications</h3>\u0000<p>Cultivating compassion within accounting students enhances connections across species, encourages students to recognise the role of compassion in sustainable decision-making and promotes a sustainable mindset. Enhanced compassion in accounting graduates could provide the motivational force for action-oriented responses from the accounting profession to the unprecedented ecological crisis.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>To the best of the authors’ knowledge, this paper presents a first step in exploring potential approaches to cultivating and facilitating compassion within accounting pedagogies and curricula design. This paper extends sustainability accounting education literature by considering individual inner dimensions in shifting mindsets of accounting students, graduates and educators towards sustainability.</p><!--/ Abstract__block -->","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2024-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139064297","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Dialogic carbon accounting: toward agonistic discourses and democratic governance in China","authors":"Shuwen Li, Zarina Zakaria, Khairul Saidah Abas Azmi","doi":"10.1108/medar-09-2022-1800","DOIUrl":"https://doi.org/10.1108/medar-09-2022-1800","url":null,"abstract":"Purpose\u0000This study aims to explore the conflicting issues of carbon accounting and trading practices in China through the lens of agonistic democracy.\u0000\u0000Design/methodology/approach\u0000Based on a framework of three interrelated levels, this study explores emitting entity carbon accounting debates and discussions in mitigating climate change. Interview data were collected from 20 emitting entity participants and external auditors.\u0000\u0000Findings\u0000This study identifies irreconcilable conflicts between emitting entities and the government in carbon accounting and trading activities. Under the strong influence of government power, emitting entities portray themselves as “responsible” and “legitimate” state-owned enterprises. This study further identifies possible democratic spaces and reveals the potential for agonistic discourse and a fallacy of “consensus” and monologues in institutional space. If the emitting entity and government can overcome their participation challenges, this would significantly facilitate vibrant and agonistic discourse in carbon activities and pave the way for democratic spaces.\u0000\u0000Originality/value\u0000This study demonstrates the potential and limitations of applying agonistic democracy and the significance of participation in institutional spaces in government-led carbon accounting and trading issues. It enriches prior research on promoting democratic participation in carbon accounting from the agonistic democracy perspective.\u0000","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138958387","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The disclosure of climate-related risks and opportunities in financial statements: the UK’s FTSE 100","authors":"Zahra Borghei, Martina Linnenluecke, Binh Bui","doi":"10.1108/medar-05-2023-1998","DOIUrl":"https://doi.org/10.1108/medar-05-2023-1998","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to explore current trends in how companies disclose climate-related risks and opportunities in their financial statements. As part of the authors’ analysis, they examine: whether forward-looking assumptions and judgements are typically considered in reporting climate-related risks/opportunities; whether there are differences in the reporting practices of firms in carbon-intensive industries versus non-carbon-intensive industries; and whether negative media reports have an influence on the levels of disclosure a firm makes.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The authors chose content analysis as their methodology and examined the financial statements published by firms listed on the UK’s FTSE 100 between 2016 and 2020. This analysis is framed by Suchman’s three dimensions of legitimacy, being pragmatic, cognitive and moral.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Climate-related disclosures in the notes and financial accounts of these firms did increase over the period. Yet, overall, the level the disclosures was inadequate and the quality was inconsistent. From this, the authors conclude that pragmatic legitimacy is not a particularly strong driving factor in compelling organisations to disclose climate-related information. The firms in carbon-intensive industries do provide greater levels of disclosure, including both qualitative and quantitative (monetary) content, which is consistent with cognitive legitimacy. However, from a moral legitimacy perspective, this study finds that firms did not adapt responsively to negative media coverage as a way of reflecting their accountability to broader public norms and values. Overall, this analysis suggests that regulatory enforcement and a systematic reporting framework with adequate guidance is going to be critical to developing transparent climate-related reporting in future.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This paper contributes to existing studies on climate-related disclosures, which have mainly examined the ‘front-half’ of annual reports. Conversely, this study aims to shed light on these practices in the “back-half” of these reports, exploring the underlying reasons for reporting climate-related risks and opportunities in financial accounts. The authors’ insights into the current disclosure practices make a theoretical contribution to the literature. Practitioners can also draw on these insights to improve how they report on climate-related risks and opportunities in their financial statements.</p><!--/ Abstract__block -->","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138743646","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The mediating role of corporate social responsibility in good corporate governance and firm value relationship: evidence from European financial institutions","authors":"Hanen Ben Fatma, Jamel Chouaibi","doi":"10.1108/medar-08-2022-1762","DOIUrl":"https://doi.org/10.1108/medar-08-2022-1762","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to investigate the direct and indirect links between good corporate governance (GCG) and firm value using corporate social responsibility (CSR) as a mediating variable.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The data used in this research was collected from the Thomson Reuters Eikon ASSET4 database, involving 108 financial institutions belonging to 12 European countries listed on the stock exchange between 2007 and 2019. A multivariate linear regression analysis was conducted to test the hypotheses of this study.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Our results show that GCG has a positive effect on the firm value and CSR practices. Interestingly, the results indicate that CSR positively influences firm value. The results also reveal that CSR partially mediates the relationship between GCG and firm value.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study contributes to the literature by providing evidence on how GCG increases firm value with the mediation mechanism of CSR in the link between GCG and firm value. To the best of our knowledge, it is the first research work documenting that GCG leads to better CSR, which ultimately results in increasing firm value of companies from the financial sector by bridging the information gap for this critical industry in the context of a developed market like Europe.</p><!--/ Abstract__block -->","PeriodicalId":18453,"journal":{"name":"Meditari Accountancy Research","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138692068","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}