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The Role Of Voluntary Corporate Governance Mechanisms On Environmental Risk Disclosure
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Book Synopsis The Role of Voluntary Corporate Governance Mechanisms on Environmental Risk Disclosure by : Eswaran Velayutham
Download or read book The Role of Voluntary Corporate Governance Mechanisms on Environmental Risk Disclosure written by Eswaran Velayutham and published by . This book was released on 2014 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the factors associated with the establishment of an environmental committee at the board level and its impact on the disclosure of environmental risks in an Australian context. Using a sample of Australian Stock Exchange firms disclosing their information to the Carbon Disclosure Project, we document a strong association between the existence of environmental committee and board independence, CEO duality, directors' share ownership, and institutional shareholding. Firms that belong to environmentally sensitive industries are more likely to have environmental committees. Furthermore, we find that firms with environmental committees are more likely to disclose environmental risk information and this leads to mitigation in information asymmetry between managers and stakeholders.
Book Synopsis Does the Voluntary Adoption of Corporate Governance Mechanisms Improve Environmental Risk Disclosures? Evidence from Greenhouse Gas Emission Accounting by : Gary F. Peters
Download or read book Does the Voluntary Adoption of Corporate Governance Mechanisms Improve Environmental Risk Disclosures? Evidence from Greenhouse Gas Emission Accounting written by Gary F. Peters and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior research suggests that voluntary environmental governance mechanisms operate to manage a firm's reputation as opposed to being a driver of proactive environmental performance activities. In understanding how such corporate governance mechanisms can operate as a symbolic practice, we investigate whether environmental corporate governance characteristics are associated with voluntary environmental disclosure. We examine an increasingly important attribute of a firm's disclosure setting, namely the disclosure of greenhouse gas (GHG) accounting information. GHG information represents proprietary non-financial information about the firm's exposure to environmental concerns and is related to the firm's operations and future profitability. Thus, we expect governance participants would view such information as a potentially important strategic device for managing stakeholder impressions regarding environmental risks. We find that the presence of an environmental committee and a chief sustainability officer (CSO) is positively associated with the likelihood of GHG disclosure and that CSO's are associated with increased disclosure transparency. Further analysis reveals that the likelihood of disclosure is associated with committee size, number of committee meetings, expertise of committee members and CSO, and overlap between the environmental committee and audit committee. Only expertise of the environmental committee members and the CSO are associated with GHG disclosure transparency, while larger committees tend to be associated with lower transparency. Our results are particularly important to those with interests in evaluating the potential role that corporate governance mechanisms play in responding to stakeholder concerns about environmental risks. Directors and officers who are considering appointment to similar governance positions, may wish to consider what attributes would make such governance positions more influential.
Book Synopsis Environmental Disclosure by : Luigi Lepore
Download or read book Environmental Disclosure written by Luigi Lepore and published by Taylor & Francis. This book was released on 2022-12-29 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a description of the state of the art on environmental disclosure, illustrating the key theoretical issues, the regulatory frameworks, and the main standards developed and reporting the results of an empirical analysis on the environmental disclosure released by listed firms. Luigi Lepore and Sabrina Pisano begin by analysing the origin and evolution of environmental disclosure. They go on to provide a description of the main theoretical frameworks used by scholars, explaining the conceptual basis of each theory and describing how the specific theory has been used to explain the company’s decision to release environmental disclosure. The second part of the book highlights the role and evolution of the European regulatory frameworks, emphasising the transition from voluntary to mandatory disclosure, and the major standards and guidance developed. The book ends by providing a picture of the evolution of sustainability reporting practices in European Union nations over the past two decades. This book investigates the critical issues and new directions in environmental disclosure, which are currently under examination by regulators and standard setters. It will therefore be of great interest to academics and students working in the areas of business and sustainability.
Book Synopsis Fostering Sustainability in Corporate Governance by : Salvatore Principale
Download or read book Fostering Sustainability in Corporate Governance written by Salvatore Principale and published by Springer Nature. This book was released on 2023-05-11 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effects of climate change on the one hand, and government promises to achieve sustainable development on the other, are only two examples of the factors driving businesses to incorporate sustainability into their business strategies. International organizations and researchers alike contend that incorporating sustainability into business is only feasible when governance also considers environmental, social and governance (ESG) issues. Therefore, corporate governance is attracting more and more attention from investors and various stakeholders. On 23 February 2022, the European Commission adopted a proposal for a Directive on corporate sustainability due diligence. The aim of this Directive is to foster sustainable and responsible corporate behaviour and to anchor human rights and environmental considerations in companies’ operations and corporate governance. Drawing on the theoretical framework of corporate governance and an analysis of the latest and most important literature on corporate governance and sustainability, this book offers essential insights, particularly in light of the Sustainable Corporate Governance Directive and Due Diligence Directive.
Book Synopsis Corporate Governance, Product-Related Voluntary Disclosure and Analysts' Forecasts Properties by : Luminita Enache
Download or read book Corporate Governance, Product-Related Voluntary Disclosure and Analysts' Forecasts Properties written by Luminita Enache and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a sample of US biotech firms, this paper examines the joint impact of product-related voluntary disclosure and corporate governance on a firms' information environment, specifically on analysts forecast accuracy, dispersion, precision of public and private information. Moreover, we investigate whether voluntary disclosure was consistently disclosed over time. Our findings, shows that the quality of corporate governance affects information transparency and play a role in reducing the uncertainty associated with future firms' performance by increasing the precision of analysts' common information and forecast accuracy, only when voluntary disclosure is constant over time. Analysts forecast dispersion decreases when more independent directors sit on the board. Voluntary disclosure and corporate governance quality are two mechanisms that act as complement to improve the quality of information available to financial analysts.
Book Synopsis Corporate Governance Mechanisms and Voluntary Disclosure of Strategic and Forward Looking Information in Annual Reports by : Norziana Lokman
Download or read book Corporate Governance Mechanisms and Voluntary Disclosure of Strategic and Forward Looking Information in Annual Reports written by Norziana Lokman and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic and forward looking information (VDSFLI) is important to the stakeholders of the company because it provide strategic plan and future direction of the company. This study aims to examine the relationship between corporate governance mechanisms and VDSFLI. The VDSFLI is measured by using a disclosure index checklist of 36 items. For each item a score is awarded based on the disclosure made by the companies in annual reports. All data is collected from the annual reports of 230 public listed Malaysian companies. The findings of the study revealed that size of audit committee is positively and significantly influence the level of VDSFLI. While the other corporate governance mechanisms are not associated with the level of VDSFLI. The study provides evidence in support of the size of audit committee requirement of Regulatory Framework in Malaysia. This evidence contributes to the argument on the role of audit committee in reducing agency conflict and minimise information asymmetry problem which results in high level of VDSFLI. In addition, the bigger the size of audit committee the better because it would provide positive signal that company has in place an effective governance mechanism as a check and balance which encourage voluntary disclosure practices. It also provides direction to the preparers of the annual report to fully disclose the information voluntarily. This study bridges the gap in the literature of corporate governance by specifically focuses on VDSFLI practices in Malaysia context.
Book Synopsis The Association Between Voluntary Disclosure and Corporate Governance in the Presence of Severe Agency Conflicts by : Ana Gisbert
Download or read book The Association Between Voluntary Disclosure and Corporate Governance in the Presence of Severe Agency Conflicts written by Ana Gisbert and published by . This book was released on 2014 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agency conflicts between investors are particularly severe in the presence of high family and block-holder ownership. By focusing on a setting characterised by high ownership concentration, we study the role of independent directors in promoting transparency through increased disclosure. In our tests, we use a sample of Spanish firms and, consistent with prior work, we show that the presence of these directors is strongly associated with increased voluntary disclosure. Additionally, we find that when an executive director takes on chair responsibilities the level of voluntary information is reduced, creating potential conflicts with the role of independent directors. We conclude that the regulatory environment can create sufficient incentives to bring together the interests of minority and majority shareholders and guarantee an efficient monitoring role of independent directors. However, results suggest that other mechanisms should be reinforced in order to improve the role of governance control on agency relationships, particularly in the case of the concentration of chair and executive responsibilities.
Book Synopsis Corporate Social Reporting by : Rob Gray
Download or read book Corporate Social Reporting written by Rob Gray and published by Prentice Hall. This book was released on 1987-01-01 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Governance Mechanisms and Voluntary Disclosure by : Sayel Al Ramadhan
Download or read book Corporate Governance Mechanisms and Voluntary Disclosure written by Sayel Al Ramadhan and published by . This book was released on 2019-04-06 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Environmental Disclosure, Corporate Governance and Firm Characteristics by : Santanu Kumar Ghosh
Download or read book Corporate Environmental Disclosure, Corporate Governance and Firm Characteristics written by Santanu Kumar Ghosh and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate environmentalism is an aspect of good corporate citizenship that revolves around the concept of sustainability. This study examines the determinants of corporate environmental responsibility and the economic benefits attached to it. The study focuses on the disclosure aspect of corporate environmentalism and how corporate governance practices of companies from polluting as well as non-polluting industries in India influence the voluntary environmental disclosure quality. The findings reveal significant impact of ownership concentration and public shareholding on voluntary environmental disclosures, but independent directors are found to have no impact on voluntary environmental disclosures in both polluting and non-polluting industries.
Book Synopsis Research Handbook of Finance and Sustainability by : Sabri Boubaker
Download or read book Research Handbook of Finance and Sustainability written by Sabri Boubaker and published by Edward Elgar Publishing. This book was released on 2018 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: The severe consequences of the global financial crisis 2008-2009 and numerous accounting frauds and financial scandals over the last fifteen years have let to calls for more ethical and responsible actions in all economic activities including consumption, investing, governance and regulation. Despite the fact that ethics in business and corporate social responsibility rules have been adopted in various countries, more efforts have to be devoted to motivate and empower more actors to integrate ethical behavior and rules in making business and managerial decisions. The Research Handbook of Finance and Sustainability will provide the readers but particularly investors, managers, and policymakers with comprehensive coverage of the issues at the crossroads of finance, ethics and sustainable development as well as proposed solutions, while focusing on three different levels: corporations, investment funds, and financial markets.
Book Synopsis The Relationship Between Corporate Governance and Environmental Disclosure by : Rania Kamal Aburaya
Download or read book The Relationship Between Corporate Governance and Environmental Disclosure written by Rania Kamal Aburaya and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The increasing global concern for the environment, the demand for increased stakeholder reporting, and the importance of sound corporate governance structures have triggered the need for more research into the value creation of environmental disclosure for stakeholders and its integration within corporate governance structures. The main objective of the current study is to empirically examine the relationship between corporate governance and each of the quantity and the quality of corporate environmental disclosures in the UK, while controlling for some corporate characteristics as well as an in-depth exploration of quality identification and assessment issues. In doing so, the study distinguishes between the different categories or areas of activity to which environmental disclosure relates as well as between the different types of environmental information content. Based on stakeholders-agency theory, the study argues that the quantity and quality of corporate environmental disclosure directed to various stakeholders are enhanced when managers' opportunism is monitored by corporate governance mechanisms, thereby, reducing the information gap or asymmetry. Content analysis of a sample of UK companies' annual reports is undertaken to examine the quantity and quality of corporate environmental disclosure practices and their association with corporate governance mechanisms, over a period of four years. Hence, the annual reports of FTSE-All share companies are examined for years 2004-2007 inclusive. A checklist of environmental disclosure items and categories is developed and environmental disclosure indices are computed. The study suggests an extensive four-dimensional framework for assessing environmental disclosure quality. The metric developed attempts to capture the qualitative characteristics of information in a manner consistent with well-supported frameworks elaborated by professional accounting bodies and standard setting organizations. Although corporate environmental disclosure quantity in UK companies' annual reports is relatively low, corporate environmental disclosure quality is comparatively high. Results also revealed a significant association between environmental disclosure quantity and, to a lesser extent, environmental disclosure quality and most corporate governance mechanisms. In addition, it appears that other corporate governance mechanisms are significant at some categorical levels of environmental disclosure. The major strength of the current study is its practical implications and its usefulness in providing data for further extensive environmental disclosure quality development. The comprehensive framework developed in this study for identifying and assessing environmental disclosure quality, is an initial step in the direction of examining environmental disclosure from the stakeholder perspective, negating the traditional belief of quantity representation of quality and shifting disclosure quality perspective from volumetric measurement to semantic assessment.
Book Synopsis Corporate Governance, Disclosure Content and Shareholder Value by : Mohammad Jizi
Download or read book Corporate Governance, Disclosure Content and Shareholder Value written by Mohammad Jizi and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crisis was the largest shock to the financial system in decades. Its implications on banks' performance, corporate image and stakeholders' trust are of a high concern for all interested parties. Banks market capitalisation dropped significantly, risk levels increased and stakeholders' confidence was shaken. This raises the importance of researching this particular area of primary concern to seek potential approaches intended to help banks to recover through increased disclosures, helping to rebuild trust and manage risk levels. Acknowledging societal needs and having effective dialogue with shareholders and stakeholders regarding banks' social profile as well as risk management practices is likely to reduce the uncertainty gap, shape banks' image and manage trust. These are indeed valuable in the wake of the financial crisis for bank continuity and enhancing shareholder value. I argue that effective corporate governance is likely to encourage more corporate social responsibility (CSR) and risk management (RM) disclosure, which in turn is expected to improve stock prices and reduce return volatility. The study examines potential solutions that assist in the management of the increasing risk levels, shaken confidence and falling market values resulting from the recent financial crisis. It contributes toward better understanding to the influence of internal corporate governance mechanisms on CSR and RM disclosure content and their substantive consequences on shareholder value. Examining a sample of US national commercial banks in the wake of the financial crisis indicates that boards with larger size, higher independence and CEO duality are inclined toward reporting a wider range of CSR and RM disclosures in annual reports, aiming to benefit the bank's transparency and stakeholders' long-term mutual relationship. Contrary to CSR disclosures, the number of audit committee financial experts was found to encourage better RM disclosure content implying the difference in influence on voluntary and mandatory disclosures. Insights into the desirable consequences CSR and RM disclosures content have on shareholder value are also evidenced. The study finds evidence supporting the association between CSR disclosure content and stock return indicating investors' interest in, and consideration of, CSR information when valuing assets and building their trading decisions. The results also suggest that higher RM disclosure score reduces uncertainties of bank risk environment and provides investors with valuable information to assess financial assets and monitor management practices. This was reflected as an improvement to stock return and reduction to return volatility. Thus, effective corporate governance is more tending to enhance shareholder value through encouraging better CSR and RM disclosure content. Corporate governance should sponsor and introduce the perception of doing business responsibly and benefit from RM disclosure as a preventive tool assisting in the management of agency problems and bank risks. The economic consequences of CSR and RM disclosures imply that CSR engagement and reporting is an investment rather than an expense, and RM disclosure is a preventive tool rather than an exercise to comply with legislation requirement. Consequently, considering their content is important for better shareholder value.
Book Synopsis Integrated Reporting and Corporate Governance by : Laura Girella
Download or read book Integrated Reporting and Corporate Governance written by Laura Girella and published by Routledge. This book was released on 2021-02-14 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance and corporate reporting are closely linked to each other, and their respective evolutionary patterns are mutually influencing. Along with the recent expansion of company disclosure, a growing attention is being paid to corporate governance determinants and mechanisms underpinning the decision to voluntarily adopt non-financial disclosure formats, such as integrated reporting. At institutional level, several national corporate governance codes have been changed towards the recognition and inclusion of this innovative, non-financial language. In academic research, the influence of corporate governance variables vis-à-vis the choice to embrace such reporting practices has been subject to a long scrutiny. However, only a little inquiry has so far analysed the influence of corporate governance factors on integrated reporting adoption, quality, and credibility. Accordingly, the aim of the book is to investigate if, and to what extent, corporate board composition and characteristics can affect, at the same time, the decision to voluntarily adopt integrated reporting by companies as well as their financial performance. The study carries out an empirical analysis of the professional features of board members at the time of their decision to implement integrated reporting as a new form of company accountability. The work provides innovative insights into the articulated relationships between the quantitative and qualitative composition of corporate boards and the latter’s choice to uptake this advanced form of reporting to represent the wider value creation processes of their organisations.
Book Synopsis Integrated Reporting by : Samuel O. Idowu
Download or read book Integrated Reporting written by Samuel O. Idowu and published by Springer. This book was released on 2019-01-04 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book critically examines the implementation and adoption of integrated reporting (IR) in organizations and corporations. A relatively new area of policy and practice, IR has rapidly gained considerable prominence since the formation of the International Integrated Reporting Committee in 2010. The book analyzes the outcomes and benefits as well as the shortfalls of integrated reporting. It offers an introduction to the foundations of IR and a comprehensive overview of its use through a number of detailed case studies. Lastly, it discusses the outlook for further developments in sustainability accounting and reporting.
Book Synopsis Handbook on Corporate Governance and Corporate Social Responsibility by : Michel Magnan
Download or read book Handbook on Corporate Governance and Corporate Social Responsibility written by Michel Magnan and published by Edward Elgar Publishing. This book was released on 2024-01-18 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world-wide transition towards corporate social responsibility (CSR) results in profound changes to business practices. Hence, this crucial Handbook adopts a global perspective to review key CSR issues and their implications for the future evolution of corporate governance.
Book Synopsis The Cambridge Handbook of Compliance by : Benjamin van Rooij
Download or read book The Cambridge Handbook of Compliance written by Benjamin van Rooij and published by Cambridge University Press. This book was released on 2021-05-20 with total page 1559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compliance has become key to our contemporary markets, societies, and modes of governance across a variety of public and private domains. While this has stimulated a rich body of empirical and practical expertise on compliance, thus far, there has been no comprehensive understanding of what compliance is or how it influences various fields and sectors. The academic knowledge of compliance has remained siloed along different disciplinary domains, regulatory and legal spheres, and mechanisms and interventions. This handbook bridges these divides to provide the first one-stop overview of what compliance is, how we can best study it, and the core mechanisms that shape it. Written by leading experts, chapters offer perspectives from across law, regulatory studies, management science, criminology, economics, sociology, and psychology. This volume is the definitive and comprehensive account of compliance.
