In recent times, there has been a surge in demands for transparency and accountability worldwide, particularly concerning information on environmental, social, and governance (ESG) aspects due to increasing stakeholder pressures. This demand is particularly important in high-tech sectors, where economic activities can have adverse impacts. However, the quality of ESG disclosure can vary widely across companies. Hence, this study aims to investigate how board characteristics, such as diversity, independence, size, average age, frequency of meetings, tenure, and membership in high-tech sectors, impact the quality of ESG disclosure, using agency theory as a foundation. The study utilizes the ESG disclosure score acquired from Bloomberg to measure the scope of corporate social responsibility (CSR) and comprises a sample of 864 international companies. A multiple linear regression model is used for cross-sectional analysis. The results show that diversity, independence, and size joined to high-tech industry membership have a positive impact on ESG disclosure quality. This study expands the scope of agency theory, by identifying additional determinants, and tests the influence of high-tech sectors on the quality of ESG disclosure. The results have significant implications for policymakers, regulators, and organizations seeking to promote sustainability and social responsibility.
Unveiling the Secrets of Sustainability Disclosure: How Governance and High-Tech Sectors are Paving the Way
Vincenzo Pontrelli
;Arcangelo Marrone;
2023-01-01
Abstract
In recent times, there has been a surge in demands for transparency and accountability worldwide, particularly concerning information on environmental, social, and governance (ESG) aspects due to increasing stakeholder pressures. This demand is particularly important in high-tech sectors, where economic activities can have adverse impacts. However, the quality of ESG disclosure can vary widely across companies. Hence, this study aims to investigate how board characteristics, such as diversity, independence, size, average age, frequency of meetings, tenure, and membership in high-tech sectors, impact the quality of ESG disclosure, using agency theory as a foundation. The study utilizes the ESG disclosure score acquired from Bloomberg to measure the scope of corporate social responsibility (CSR) and comprises a sample of 864 international companies. A multiple linear regression model is used for cross-sectional analysis. The results show that diversity, independence, and size joined to high-tech industry membership have a positive impact on ESG disclosure quality. This study expands the scope of agency theory, by identifying additional determinants, and tests the influence of high-tech sectors on the quality of ESG disclosure. The results have significant implications for policymakers, regulators, and organizations seeking to promote sustainability and social responsibility.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.