Abstract
This research contributes to the existing corporate governance (CG) and social and environmental accountability (SEA) literature by exploring the impact of CG mechanisms (board independence, board size, CEO duality, and board gender diversity) on Chinese firms’ environmental performance, sustainability performance, and environmental information disclosures (EID). Furthermore, the investigation consequently ascertains the amount to which the CG–SEA connection is influenced by CEO qualities. Using a dynamic model of a SysGMM regression model, we found that board size, independence, and gender diversity in board and CEO duality are all favorably connected to Chinese enterprises’ environmental performance over a window of 10 years (2010–2019). Additionally, our findings imply that the analyzed CEO characteristics positively moderate the relationship between CG and SEA. Our findings have significant consequences for all stakeholders, including environmentalists, corporate regulators, CEOs, policymakers, and regulators.
Highlights
Whether a firm perceives itself as accountable or not depends on how it is led and controlled
Our findings indicate that all four critical board compositional characteristics are significantly connected to accountability performance
This study establishes a link between the corporate governance (CG) mechanism with various environmental and social accountability (SEA) measures like sustainability performance, environmental performance, and environmental information disclosures
Summary
Whether a firm perceives itself as accountable or not depends on how it is led and controlled. Corporate governance (CG) is vitally crucial for adopting ethical conduct in an organization’s entire structure and its relationships with all stakeholders. The demand for corporate accountability, especially regarding environmental and sustainability performance, has been raised because of massive industrialization, dwindling resources, damaged ecosystems, and exploited labor. The United Nations has shown serious concern for global environmental and sustainable issues and has developed 17 global sustainable development goals (SDGs) comprising 169 targets. Sustainable development basically comprises economic, social, and environmental aspects. Griggs et al [1] redefined it as “the development that meets current needs while safeguarding the earth’s life-support system, upon which the welfare of current and future generations is contingent.”
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