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Sustainable corporate governance and non-financial disclosure in Europe: does the gender diversity matter?

Author

Listed:
  • Giuseppe Nicolò
  • Giovanni Zampone
  • Giuseppe Sannino
  • Serena De Iorio

Abstract

Purpose - Recent regulatory changes in Europe have promoted non-financial reporting practices (e.g., Directive, 2014/95/EU) and gender diversity in decision-making positions. Special attention is devoted to promoting the gender balance on corporate boards as a key mechanism to enhance corporate governance effectiveness and better address multiple stakeholders' needs. With this in mind, this study intends to examine the impact of boardroom gender diversity on Environmental Social Governance (ESG) disclosure practices in the European listed firms' context. Design/methodology/approach - The study applies different panel data models on an extended sample of 1,392 firms from 21 European Union (EU) countries for six years (2014–2019). Findings - Findings allow to spotlight the positive role exerted by the presence of women directors on the boards in enhancing ESG disclosure, both at the overall and specific (individual ESG scores) level. Research limitations/implications - Policymakers and regulators might consider the study's evidence as a stimulus to continue in promoting strategic actions and reforms that foster gender equality and balance in corporate decision-making positions. Practical implications - Creating a heterogeneous and diversified board of directors may support implementing a “sustainable corporate governance” recently claimed by the EC. Originality/value - The study contributes to the literature by disentangling the links between gender diversity and ESG disclosure over a period that covers a long season of European regulations and measures that affected both non-financial reporting practices and the board of directors' composition. Accordingly, it can contribute to enhancing the practical and theoretical understanding of the pivotal role that gender diversity may exert in strengthening corporate governance and, in turn, corporate transparency and accountability behaviours about non-financial issues.

Suggested Citation

  • Giuseppe Nicolò & Giovanni Zampone & Giuseppe Sannino & Serena De Iorio, 2021. "Sustainable corporate governance and non-financial disclosure in Europe: does the gender diversity matter?," Journal of Applied Accounting Research, Emerald Group Publishing Limited, vol. 23(1), pages 227-249, July.
    • Handle: RePEc:eme:jaarpp:jaar-04-2021-0100
    DOI: 10.1108/JAAR-04-2021-0100
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    Citations

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    Cited by:

    1. Jagvinder Singh & Varda Sardana & Shubham Singhania, 2024. "Beyond compliance: the business case for gender diversity on boards and sustainability reporting in India," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(6), pages 2284-2293, June.
    2. Vitiana L'Abate & Nicola Raimo & Francesco Albergo & Filippo Vitolla, 2024. "Social media to disseminate circular economy information. An empirical analysis on Twitter," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 528-539, January.
    3. Jonathan Taglialatela & Kevin Pirazzi Maffiola & Roberto Barontini & Francesco Testa, 2023. "Board of Directors' characteristics and environmental SDGs adoption: an international study," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2490-2506, September.

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