The effect of corporate governance on sustainability disclosure

Giovanna Michelon, Antonio Parbonetti*

*Corresponding author for this work

Research output: Contribution to journalArticle (Academic Journal)peer-review

337 Citations (Scopus)

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 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.

Original languageEnglish
Pages (from-to)477-509
Number of pages33
JournalJournal of Management and Governance
Volume16
Issue number3
DOIs
Publication statusPublished - 1 Aug 2012

Keywords

  • Board composition
  • Community influential
  • Organizational legitimacy
  • Sustainability disclosure

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