Diverse boards and firm performance: The strategic role of carbon disclosure in heavily polluting companies in Bangladesh

IF 4.8 Q1 BUSINESS Business Strategy and Development Pub Date : 2024-10-02 DOI:10.1002/bsd2.70017
Bablu Kumar Dhar, Mosharrof Hosen, Mehmet Bağış, Maria José Sousa, Kazi Masuma Khatun
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Abstract

This study investigates the strategic role of carbon disclosure in shaping firm performance and board heterogeneity among heavily polluting companies in Bangladesh from 2013 to 2023. Using empirical data from 150 companies listed on the Dhaka Stock Exchange, the research examines the impact of board diversity—specifically gender, tenure, and educational heterogeneity—on carbon disclosure practices. The findings reveal that board gender and tenure heterogeneity negatively affect carbon disclosure, whereas educational heterogeneity has a positive impact. Additionally, firm performance shows a negative effect on carbon disclosure but does not significantly moderate the influence of board heterogeneity. These results underscore the importance of board diversity in enhancing carbon disclosure practices, thereby contributing to improved environmental management and firm performance in heavily polluting industries in Bangladesh. This research, grounded in legitimacy theory, stakeholder theory, and corporate governance literature, provides valuable insights for academics, practitioners, and policymakers focused on business strategies for environmental sustainability.

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多元化董事会与公司业绩:孟加拉国重污染企业碳信息披露的战略作用
本研究探讨了 2013 年至 2023 年碳信息披露在孟加拉国重污染公司中塑造公司业绩和董事会异质性的战略作用。研究利用达卡证券交易所 150 家上市公司的经验数据,考察了董事会多样性(特别是性别、任期和教育异质性)对碳信息披露实践的影响。研究结果表明,董事会的性别和任期异质性对碳信息披露有负面影响,而教育异质性则有正面影响。此外,公司业绩对碳信息披露也有负面影响,但并不能显著缓和董事会异质性的影响。这些结果强调了董事会多样性在加强碳信息披露实践中的重要性,从而有助于改善孟加拉国重污染行业的环境管理和公司业绩。这项研究以合法性理论、利益相关者理论和公司治理文献为基础,为关注环境可持续发展商业战略的学者、从业人员和政策制定者提供了宝贵的见解。
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来源期刊
Business Strategy and Development
Business Strategy and Development Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)
CiteScore
5.80
自引率
6.70%
发文量
33
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