The effect of corporate governance on sustainability disclosure
Michelon, Giovanna; Parbonetti, Antonio
Date: 14 September 2010
Journal
Journal of Management and Governance
Publisher
Springer
Publisher DOI
Abstract
Drawing on stakeholder theory, this paper examines the relationship of board composition, leadership and structure on
sustainability disclosure. We discuss that good corporate governance and sustainability disclosure can be seen as
complementary mechanisms of legitimacy that companies may use to dialogue with stakeholders. Specifically ...
Drawing on stakeholder theory, this paper examines the relationship of board composition, leadership and structure on
sustainability disclosure. We discuss that good corporate governance and sustainability disclosure can be seen as
complementary mechanisms of legitimacy that companies may use to dialogue with stakeholders. Specifically we claim
that, as disclosure policies emanate from the board of directors, sustainability disclosure may be a function of the board
attributes: we investigate the relationship between different characteristics of the board and sustainability disclosures
among US and European companies. Our results show that in order to explain the effect of board composition on
sustainability disclosure we need to go beyond the narrow and traditional distinction between insider and independent
directors, focusing on the specific characteristics of each director.
Finance and Accounting
Faculty of Environment, Science and Economy
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