International Journal of Disclosure and Governance最新文献_第4页

The impact of ESG disclosure on mitigating financial distress: exploring the moderating role of firm life cycle 环境、社会和公司治理信息披露对减轻财务困境的影响：探索公司生命周期的调节作用

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2024-02-16 DOI: 10.1057/s41310-024-00225-8

K. R. Suprabha, J. Sreepriya, Krishna Prasad

{"title":"The impact of ESG disclosure on mitigating financial distress: exploring the moderating role of firm life cycle","authors":"K. R. Suprabha, J. Sreepriya, Krishna Prasad","doi":"10.1057/s41310-024-00225-8","DOIUrl":"https://doi.org/10.1057/s41310-024-00225-8","url":null,"abstract":"Globally, businesses are increasingly gaining recognition for their non-financial performance due to heightened stakeholder demands about ethical and environmental responsibilities. This noteworthy shift in perspective has catalyzed the inception of this research, which seeks to scrutinize the influence of environmental, social, and governance disclosure (ESGD) on financial distress. To investigate the potential capacity of ESGD in mitigating financial distress, the researchers have employed the Generalized Method of Moments. Additionally, the study takes into account the moderating role played by the firm’s life cycle in this relationship. The findings underscore that the adoption of ESGD is associated with a decreased likelihood of default, thus highlighting its effectiveness as a risk management strategy. Moreover, this investigation emphasizes the impact of the firm’s life cycle on the link between ESGD and corporate financial distress. Rooted in signalling theory as the theoretical framework, the research posits that a wide spectrum of Environmental, Social, and Governance (ESG) initiatives not only enhances the consistency of signals but also amplifies the associated signal costs. Consequently, in alignment with this theoretical perspective and substantiated by empirical evidence, our study confirms a multifaceted influence of ESGD on financial distress, contingent upon the distinctive phases of a firm's life cycle. In consequence, this study offers valuable insights for managerial decision-making, guiding the development of tailored disclosure policies that align with the specific characteristics of a firm’s life cycle.","PeriodicalId":45050,"journal":{"name":"International Journal of Disclosure and Governance","volume":"16 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139770137","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}

引用次数: 0

To win the marketplace, you must first win the workplace: CEO ability, CSR, and firm performance: evidence from fast-growing firms in Asia–Pacific 要想赢得市场，必须先赢得职场：首席执行官能力、企业社会责任与公司业绩：来自亚太地区快速发展企业的证据

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2024-02-15 DOI: 10.1057/s41310-023-00222-3

{"title":"To win the marketplace, you must first win the workplace: CEO ability, CSR, and firm performance: evidence from fast-growing firms in Asia–Pacific","authors":"","doi":"10.1057/s41310-023-00222-3","DOIUrl":"https://doi.org/10.1057/s41310-023-00222-3","url":null,"abstract":"<h3>Abstract</h3> In this study, we examine the impacts of the chief executive officer’s (CEO) ability on a firm’s corporate social responsibility (CSR) and the CSR effect on a firm’s performance. In addition, we explore the CEO’s role in aligning the relationship between CSR and firm performance. Our findings show that a firm’s CSR and performance increase with the CEO’s ability. Further, CEO ability moderates an insignificant association between CSR and firm performance. Importantly, we also find that the positive relation between CEO ability and CSR is weak for CEOs with dual roles and is also ineffective when CSR emphasis exerted by the external environment is more robust. Importantly, we find that gender critical mass substitutes the relation between CEO ability and CSR, signifying that a firm with gender crucial mass on its board is likelier to adopt CSR irrespective of CEO ability. We also find that CEO career concerns moderate the relation between CEO ability and firm performance. Notably, CEO gender moderates the association between CEO ability and firm CSR and firm performance, implying that female CEOs with high ability are likelier to adopt CSR practices and align CSR performance to firm performance. Overall, our evidence is consistent with our conjectures that more able CEOs have fewer career concerns and are more willing to undertake CSR investments leading to firm performance.","PeriodicalId":45050,"journal":{"name":"International Journal of Disclosure and Governance","volume":"6 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139770223","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}

引用次数: 0

Unpacking women’s power on corporate boards: gender reward in board composition 解读女性在公司董事会中的权力：董事会构成中的性别报酬

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2024-02-13 DOI: 10.1057/s41310-024-00228-5

ABM Fazle Rahi

{"title":"Unpacking women’s power on corporate boards: gender reward in board composition","authors":"ABM Fazle Rahi","doi":"10.1057/s41310-024-00228-5","DOIUrl":"https://doi.org/10.1057/s41310-024-00228-5","url":null,"abstract":"Participation of women on corporate boards has long been a topic of debate in academia and practice. Yet, the threshold of women's participation in a corporate board to obtain a synergetic impact on corporate sustainability performance remains to be examined. Data from 19 European countries, having 2640 firm-year of observation, this study revealed that women on boards positively affect corporate sustainability performance in the European context, with an approximately 30% participation of women on boards (WoB) ensuring synergetic impact. This study further revealed that after the threshold of WoB participation, the market value of companies tends to be negative in the European setting. An indication of investors' reactions. The issue was first examined through the lens of the resource-based view, social role, agency and critical mass theories and then empirically tested. To reach a conclusion, this study employs both static and dynamic econometric models; thus, the finding is consistent and empirically robust. The research findings contribute to the current discussion on corporate governance and corporate sustainability performances issues, especially in the European context, and have implications for researchers, business practitioners, and policymakers.","PeriodicalId":45050,"journal":{"name":"International Journal of Disclosure and Governance","volume":"25 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139770135","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}

引用次数: 0

The relationship between audit quality and firm performance: the mediating effect of integrated reporting 审计质量与公司业绩之间的关系：综合报告的中介效应

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2024-02-06 DOI: 10.1057/s41310-024-00224-9

Kawther Dhifi, Rim Zouari-Hadiji

引用次数: 0

Is the capital market of Bangladesh ready to reap the benefits of voluntary integrated reporting disclosures? Insights from the equity investment experts 孟加拉国的资本市场准备好收获自愿性综合报告披露的好处了吗？股权投资专家的见解

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2024-02-01 DOI: 10.1057/s41310-024-00227-6

引用次数: 0

An empirical analysis of SDG disclosure (SDGD) and board gender diversity: insights from the banking sector in an emerging economy 对可持续发展目标披露（SDGD）和董事会性别多样性的实证分析：新兴经济体银行业的启示

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2024-01-29 DOI: 10.1057/s41310-023-00223-2

Mohammed Mehadi Masud Mazumder

{"title":"An empirical analysis of SDG disclosure (SDGD) and board gender diversity: insights from the banking sector in an emerging economy","authors":"Mohammed Mehadi Masud Mazumder","doi":"10.1057/s41310-023-00223-2","DOIUrl":"https://doi.org/10.1057/s41310-023-00223-2","url":null,"abstract":"There has been a recent surge in interest in academic research and public discourse surrounding the Sustainable Development Goals (SDGs). This study examines the level of SDG disclosure (SDGD) in Bangladeshi banking companies and explores its relationship with board gender diversity. An automated keyword search is applied to measure SDGD in the annual reports of publicly traded commercial banks. Based on agency, resource dependence, and stakeholder theories, this study hypothesises that a higher presence of female directors on the board is associated with greater commitment and contribution to SDGs, as evident in SDGD. The findings reveal a consistent increase in SDGD from 2015 to 2020 and confirm a significant positive relationship between board gender diversity and SDGD. The results remain consistent following robustness tests, including one-step and two-step system (dynamic) GMM estimations. Also, the study provides evidence that a critical mass of at least three female directors is necessary to establish a significant positive relationship between board gender diversity and SDGD. The implications of this study are twofold: firstly, it provides preliminary insights into the state of SDGD in the banking industry, which can inform regulators in assessing corporate engagement to SDGs and issuing disclosure guidance for the interest of the stakeholders. Secondly, the study highlights the importance of gender diversity on boards, as more female representation is associated with increasing SDGD. Such empirical findings imply that banking companies should consider appointing more female directors to their boards to advance SDG initiatives. Policymakers can utilise these findings to formulate regulations, particularly regarding the minimum number of female directors on corporate boards. This research contributes to the limited SDGD literature in the emerging economy context, offering insights into how board gender diversity is associated with SDGD.","PeriodicalId":45050,"journal":{"name":"International Journal of Disclosure and Governance","volume":"171 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139584020","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}

引用次数: 0

Mediation effect of earnings management techniques on the relationship between CSR and corporate performance: evidence from the civil law countries 收益管理技术对企业社会责任与公司业绩之间关系的中介效应：来自大陆法系国家的证据

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2024-01-19 DOI: 10.1057/s41310-023-00219-y

Karima Lajnef, Siwar Ellouz

引用次数: 0

Internal corporate governance and cash holdings: the role of external governance mechanism 公司内部治理与现金持有：外部治理机制的作用

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2024-01-04 DOI: 10.1057/s41310-023-00212-5

Tahir Akhtar, Ameen Qasem, Shoaib Khan

{"title":"Internal corporate governance and cash holdings: the role of external governance mechanism","authors":"Tahir Akhtar, Ameen Qasem, Shoaib Khan","doi":"10.1057/s41310-023-00212-5","DOIUrl":"https://doi.org/10.1057/s41310-023-00212-5","url":null,"abstract":"This study investigates how decisions about cash holdings are impacted by internal corporate governance mechanisms in the presence of external governance mechanisms (shareholders’ and creditors’ rights). On the data of listed manufacturing firms in the ASEAN-5 from 2005 to 2020, the fixed-effect and generalized method of moment models are employed. The results demonstrate that strong external governance mechanisms mitigate the negative impact of weak internal governance methods, such as a higher level of managerial ownership, a larger board, and CEO dual roles. This suggests that strong external governance mechanisms can help mitigate cash wastage and higher agency issues brought on by weak internal governance. However, when there is a presence of strong external governance mechanism, strong internal governance practices such as lower managerial ownership levels, a founder-CEO, and an independent board do not permit corporations to store more cash to avoid cash misuse. This is the first study that reveals how internal corporate governance mechanisms affect the choice to keep cash in the presence of strong and weak external governance mechanisms.","PeriodicalId":45050,"journal":{"name":"International Journal of Disclosure and Governance","volume":"17 1","pages":""},"PeriodicalIF":2.7,"publicationDate":"2024-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139375494","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}

引用次数: 0

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2023-12-22 DOI: 10.1057/s41310-023-00221-4

Zunaiba Abdulrahman, Tahera Ebrahimi, Basil Al‐Najjar

引用次数: 0

Do board characteristics moderate the relationship between political connections and cash holdings? insight from Asian countries 董事会特征是否会缓和政治关系与现金持有量之间的关系？来自亚洲国家的启示

IF 2.7

International Journal of Disclosure and Governance Pub Date : 2023-12-21 DOI: 10.1057/s41310-023-00218-z

Abdullah, M. A. Hashmi, R. Brahmana, Humayun Fareeduddin

引用次数: 0