环境、社会和公司治理绩效与信息披露质量:当出现印象管理时,均衡的董事会是否重要?

IF 3.8 Q2 BUSINESS EuroMed Journal of Business Pub Date : 2024-03-15 DOI:10.1108/emjb-05-2023-0140
Sourour Hamza, Anis Jarboui
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引用次数: 0

摘要

目的本文探讨了以环境和社会报告的非正常基调衡量的信息披露质量如何决定企业的环境、社会和公司治理(ESG)绩效。本研究还调查了 "董事会 "这一调节因素的影响,以探讨在印象管理战略中,一个平衡的董事会可能会在多大程度上影响这种关联。为了检验提出的假设,作者采用了 GLS 回归,为了控制内生性问题和样本选择偏差,作者分别采用了两阶段最小二乘法(2SLS)程序和 Heckman 模型。研究结果研究结果表明,一个平衡的董事会可以调节 ESG 表现与信息披露质量之间的关系。研究局限性/影响研究提供了企业社会责任(CSR)报告质量,尤其是披露基调管理对法国环境、社会和公司治理绩效水平影响的证据。由于董事会可能对弱化印象管理策略,尤其是语气管理实践产生重大影响,为了提高企业社会责任报告的质量,作者建议法国公司确保董事会成员的均衡性。它揭示了强大的董事会构成会提高企业社会责任报告的质量,并带来更好的环境、社会和公司治理绩效。因此,研究结果表明了均衡的董事会和规范企业社会责任信息的叙述性披露的重要性。
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ESG performance and disclosure quality: does a well-balanced board of directors matter when impression management occurs?

Purpose

This paper explores how the disclosure quality, measured by the abnormal tone of environmental and social report, may determine the environmental, social and corporate governance (ESG) performance of the firm. This study also investigates the impact of the moderator “board of directors” to explore the extent to which a well-balanced board of directors may affect this association within an impression management strategy.

Design/methodology/approach

This work uses a sample of 616 firm-year observations using a sample of French firms indexed on SBF120 index from 2010 to 2017. To test the developed hypotheses, the GLS regression is applied and to control for endogeneity issue and sample selection bias, the authors used, respectively, the two stage least square (2SLS) procedure and the Heckman model.

Findings

Findings suggest that a well-balanced board of directors moderates the relationship between the ESG performance and the disclosure quality. The positive effect of abnormal tone management on ESG is weakened by the presence of a good structure of the board, attenuating impression management initiatives.

Research limitations/implications

The research provides evidence of the impact of corporate social responsibility (CSR) reporting quality, in particular disclosure tone management, on the level of ESG performance in the French context. As the board of directors may have a major impact on weakening impression management strategies in particular tone management practices, in order to improve CSR report quality, the authors recommend French companies to ensure a well-balanced board of directors.

Originality/value

This study helps investors to comprehensively evaluate the information disclosed on CSR reports. It unveils that a strong board composition induces better quality of CSR report and brings better ESG performance. Thus, the study results point to the importance of a well-balanced board of directors and the regulation of the narrative disclosure of CSR information.

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来源期刊
CiteScore
9.80
自引率
19.20%
发文量
61
期刊介绍: The EuroMed Journal of Business (EMJB) is the premier publication facilitating dialogue among researchers from Europe and the Mediterranean. It plays a vital role in generating and disseminating knowledge about various business environments and trends in this region. By offering an up-to-date overview of emerging business practices in specific countries, EMJB serves as a valuable resource for its readers. As the official journal of the EuroMed Academy of Business, EMJB is committed to reflecting the economic growth seen in the European-Mediterranean region. It aims to be a focused and targeted business journal, highlighting environmental opportunities, threats, and marketplace developments in the area. Through its efforts, EMJB promotes collaboration and open dialogue among diverse research cultures and practices. EMJB serves as a platform for debating and disseminating research findings, new research areas and techniques, conceptual developments, and practical applications across various business segments. It seeks to provide a forum for discussing new ideas in business, including theory, practice, and the issues that arise within the field.
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