THE IMPACT OF BOARD CHARACTERISTICS ON ESG DISCLOSURE: AN EMPIRICAL STUDY ON US COMPANIES

In recent times, the demand of transparency and accountability is enhancing in the all sector. The pressures of stakeholders are ever-increasing, especially about information on environmental, social and governance (ESG) aspects. In this perspective, the aim of this paper is to investigate the impac...

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Bibliographic Details
Main Authors: Relia, Angela, L'Abate, Vitiana
Format: Conference Proceeding
Language:English
Subjects:
Accountability
Age
Annual reports
Biotechnology industry
Boards of directors
Empirical analysis
Environmental governance
Financial disclosure
Gender
Impact analysis
Intellectual capital
Literature reviews
Regression models
Social responsibility
Stock exchanges
Transparency
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Summary:In recent times, the demand of transparency and accountability is enhancing in the all sector. The pressures of stakeholders are ever-increasing, especially about information on environmental, social and governance (ESG) aspects. In this perspective, the aim of this paper is to investigate the impact of board characteristics on environmental, social and governance (ESG) disclosure. Specifically, this study examines whether and how board characteristics impact on the ESG disclosure by the use of agency theory. The ESG disclosure score collected on Bloomberg represents a measure to expand the application field of corporate social responsibility (CSR). The empirical analysis is based on a sample of 335 US companies, specifically belonging to S&P 500 Index. The study is based on the analysis of the relationships between board features, in particular size, diversity, independence, meeting frequency and average age of the board, and the ESG disclosure. The present study uses a multiple linear regression model, in particular, it implements a cross-sectional analysis. This study contributes to enhancing literature in this field in several ways. Firstly, it extends the application scope of agency theory, and, secondly identifies further internal determinants of ESG disclosure.
ISSN:1849-6903
1849-6903