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The influence of board committee structures on voluntary disclosure of greenhouse gas emissions: Australian evidence

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  • Krishnamurti, Chandrasekhar
  • Velayutham, Eswaran

Abstract

In this paper, we examine the impact of having risk management committees at the board level on the voluntary disclosure of greenhouse gas (GHG) emissions in Australia. There is no impact of having a standalone risk management committee on the levels of voluntary disclosure of GHG emissions. However, when firms have combined audit and risk management committees the level of disclosure of GHG emissions is lower and this result holds in multivariate models that control for a number of firm characteristics including corporate governance. Further, we find that firms voluntarily disclosing higher quality information on GHG emissions experience reduced stock price volatility and improved stock market liquidity.

Suggested Citation

  • Krishnamurti, Chandrasekhar & Velayutham, Eswaran, 2018. "The influence of board committee structures on voluntary disclosure of greenhouse gas emissions: Australian evidence," Pacific-Basin Finance Journal, Elsevier, vol. 50(C), pages 65-81.
    • Handle: RePEc:eee:pacfin:v:50:y:2018:i:c:p:65-81
    DOI: 10.1016/j.pacfin.2017.09.003
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    6. Valentina Lagasio & Nicola Cucari, 2019. "Corporate governance and environmental social governance disclosure: A meta‐analytical review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(4), pages 701-711, July.
    7. Geoffrey Frost & Stewart Jones & Muchen Yu, 2023. "Voluntary Carbon Reporting Prediction: A Machine Learning Approach," Abacus, Accounting Foundation, University of Sydney, vol. 59(4), pages 1116-1166, December.
    8. Syeda Humayra Abedin & Silima Subha & Mumtaheena Anwar & Md. Nurul Kabir & Yasean A. Tahat & Mohammed Hossain, 2023. "Environmental Performance and Corporate Governance: Evidence from Japan," Sustainability, MDPI, vol. 15(4), pages 1-20, February.
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    More about this item

    Keywords

    Risk management committee; Voluntary disclosure; Greenhouse gas emissions;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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