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The impact of the quality of corporate governance on sustainable development: an analysis based on development level

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  • Monica Violeta Achim
  • Viorela Ligia Văidean
  • Andrada Ioana Sabau (Popa)
  • Ioana Lavinia Safta

Abstract

Sustainable development has gained the attention of researchers worldwide and is becoming an important topic, especially in relation to corporate governance principles. This study investigates the influence of corporate governance on sustainable development in a sample of 185 countries over 2005–2020 using a panel linear regression model. Separate analyses are also conducted on subsamples of high- and low-income countries. Our findings highlight the positive influence of corporate governance, as measured by board efficacy, the strength of audits and reports, and digitalisation, on sustainable development, as measured by the Human Development Index, Human Capital Index, and Environmental Performance Index. Moreover, we find a higher positive and marginal effect of the influence of corporate governance on sustainable development for low-income countries than for high-income countries. The robustness checks performed using variables related to the happiness index, women in top management positions, and technology adoption verify our results. Our findings are important for managers and policymakers to consolidate sustainable development through the incentive brought about by high-quality corporate governance.

Suggested Citation

  • Monica Violeta Achim & Viorela Ligia Văidean & Andrada Ioana Sabau (Popa) & Ioana Lavinia Safta, 2023. "The impact of the quality of corporate governance on sustainable development: an analysis based on development level," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 36(1), pages 930-959, March.
  • Handle: RePEc:taf:reroxx:v:36:y:2023:i:1:p:930-959
    DOI: 10.1080/1331677X.2022.2080745
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    Cited by:

    1. Chuanfeng Sun & Guihuang Jiang & Jingqiang Zhang, 2024. "An Analysis of Hotspots, Subject Structure, and Emerging Trends in Digital Governance Research," SAGE Open, , vol. 14(3), pages 21582440241, August.

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