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Executives’ education: A catalyst for enhanced ESG disclosure

Author

Listed:
  • Wan, Yang
  • Hong, Ziyi
  • Liu, Wenqing
  • Cui, Jiashuo

Abstract

High-quality ESG disclosure by firms is crucial for reducing capital costs and enhancing firms’ reputations. However, an under-explored factor in the literature is the impact of executives’ education on ESG disclosure. Using unique firm-level executives’ education data from 2012 to 2021, our study demonstrates that executives’ education can positively affect firms’ ESG disclosure, particularly in the context of social responsibility. This finding is robust to specifications considering the endogeneity issue and various alternative specifications. Moreover, our results reveal that executives with advanced degrees, such as master's or doctorate degrees, exhibit a greater propensity to promote ESG disclosure.

Suggested Citation

  • Wan, Yang & Hong, Ziyi & Liu, Wenqing & Cui, Jiashuo, 2023. "Executives’ education: A catalyst for enhanced ESG disclosure," Finance Research Letters, Elsevier, vol. 58(PB).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pb:s1544612323008012
    DOI: 10.1016/j.frl.2023.104429
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    Keywords

    Executives’ education; ESG disclosure; Education attainment; Social responsibility;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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