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Title: Do ownership structures and governance attributes matter for corporate sustainability reporting? An examination in the Indian context
Authors: Kumar, K
Kumari, R
Nandy, M
Sarim, M
Kumar, R
Keywords: corporate governance;corporate sustainability;developing countries;India;ownership structures;sustainability reporting
Issue Date: 30-Mar-2022
Publisher: Emerald Publishing Limited
Citation: Kumar, K., Kumari, R., Nandy, M., Sarim, M. and Kumar, R. (2022) 'Do ownership structures and governance attributes matter for corporate sustainability reporting? An examination in the Indian context', Management of Environmental Quality, 33 (5), pp. 1077 - 1096. doi: 10.1108/MEQ-08-2021-0196.
Abstract: Copyright © 2022 The Author(s). Purpose: Based on the essence of the legitimacy and agency theories, this study empirically investigates the influence of corporate governance attributes and ownership structures on sustainability reporting of companies listed on the National Stock Exchange (NSE), India. Design/methodology/approach: The study is based on panel data regression analysis of sustainability reporting practices of fifty- three environmentally sensitive companies drawn from NIFTY100 Index at NSE. All data pertaining to sustainability information disclosure, ownership structure and corporate governance characteristics were sourced from sustainability report, business responsibility report, annual report and Centre for Monitoring Indian Economy (CMIE) database for the years 2015 to 2019. Findings: The empirical result reveals that sustainability reporting scenario has been consistently improving in India. This study documents that government ownership and frequency of board meetings are the two most important factors significantly influencing the extent of sustainability information disclosure of companies. However, the present study failed to find any significant impact of board size and big4 auditing on sustainability reporting practices. Unexpectedly, a higher number of independent directors does not improve sustainability disclosure of companies in India. Originality: This is one of the first studies to investigate how the nature of ownership and corporate governance characteristics contribute to or impede sustainability reporting practices of companies in India. This study offers important insights to regulators, practitioners and investors to analyze whether sustainability disclosure of companies is influenced by corporate governance attributes. It also provides a perspective for regulators and corporate strategists to assess the impact of recent corporate governance reforms in India and consider how corporate governance mechanism can be used to improve sustainability reporting practices.
ISSN: 0956-6163
Other Identifiers: ORCID iD: Monomita Nandy
Appears in Collections:Brunel Business School Research Papers

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