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The contribution of financial entities to the sustainable development through the reporting of corporate social responsibility information

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  • María Consuelo Pucheta‐Martínez
  • Inmaculada Bel‐Oms
  • Mehdi Nekhili

Abstract

This paper aims at examining the relationship between the board composition and corporate social responsibility (CSR) of a sample of listed financial entities, discussing the reasons driving these entities to disclose CSR information. We hypothesise that there is a positive association between outside (institutional and independent directors) and female directors and CSR disclosure, and a negative relationship between inside directors and CSR reporting. Our findings provide evidence that the presence of independent directors and female directors on boards promotes CSR disclosure. Moreover, the results also show that the presence of inside directors and institutional directors on boards does not have an influence on CSR reporting. Thus, our evidence suggests that board attributes, such as the presence of independent and female directors, encourage financial entities to report CSR matters, showing the effectiveness of these two corporate governance mechanisms. The paper sheds light on the influence of the board structure of financial entities on CSR disclosure. Therefore, this study contributes to past research by providing an index for measuring the CSR disclosure of financial entities and the importance of the distinction between outside and inside directors.

Suggested Citation

  • María Consuelo Pucheta‐Martínez & Inmaculada Bel‐Oms & Mehdi Nekhili, 2019. "The contribution of financial entities to the sustainable development through the reporting of corporate social responsibility information," Sustainable Development, John Wiley & Sons, Ltd., vol. 27(3), pages 388-400, May.
  • Handle: RePEc:wly:sustdv:v:27:y:2019:i:3:p:388-400
    DOI: 10.1002/sd.1911
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    Cited by:

    1. Andrea Venturelli & Simone Pizzi & Fabio Caputo & Salvatore Principale, 2020. "The revision of nonfinancial reporting directive: A critical lens on the comparability principle," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3584-3597, December.
    2. María‐Florencia Amorelli & Isabel‐María García‐Sánchez, 2021. "Trends in the dynamic evolution of board gender diversity and corporate social responsibility," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(2), pages 537-554, March.
    3. David Daniel Peña‐Miranda & Antonio Guevara‐Plaza & José Antonio Fraiz‐Brea & Mark Anthony Camilleri, 2022. "Corporate social responsibility model for a competitive and resilient hospitality industry," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(3), pages 433-446, June.
    4. Simone Pizzi & Francesco Rosati & Andrea Venturelli, 2021. "The determinants of business contribution to the 2030 Agenda: Introducing the SDG Reporting Score," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 404-421, January.
    5. Murat Kucukvar & Khalel Ahmed Alawi & Galal M. Abdella & Muhammet Enis Bulak & Nuri C. Onat & Melih Bulu & Murat Yalçıntaş, 2021. "A frontier‐based managerial approach for relative sustainability performance assessment of the world's airports," Sustainable Development, John Wiley & Sons, Ltd., vol. 29(1), pages 89-107, January.
    6. Saleh F. A. Khatib & Dewi Fariha Abdullah & Ahmed A. Elamer & Raed Abueid, 2021. "Nudging toward diversity in the boardroom: A systematic literature review of board diversity of financial institutions," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 985-1002, February.
    7. Giordino, Daniele & Jabeen, Fauzia & Nirino, Niccolò & Bresciani, Stefano, 2024. "Institutional investors ownership concentration and its effect on disclosure and transparency of United Nations sustainable development goals," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    8. Ameen Qasem & Shaker Dahan AL-Duais & Wan Nordin Wan-Hussin & Hasan Mohamad Bamahros & Abdulsalam Alquhaif & Murad Thomran, 2022. "Institutional Ownership Types and ESG Reporting: The Case of Saudi Listed Firms," Sustainability, MDPI, vol. 14(18), pages 1-23, September.
    9. Salaheldin Hamad & Fong‐Woon Lai & Muhammad Kashif Shad & Zdeňka Konečná & Feybi Ariani Goni & Abdoulmohammad Gholamzadeh Chofreh & Jiří Jaromír Klemeš, 2022. "Corporate governance code and voluntary disclosure of integrated reporting: Evidence from an emerging economy," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(6), pages 1497-1510, December.
    10. Ruy de Castro Sobrosa Neto & Carlos Rogério Montenegro de Lima & Daniel Goulart Bazil & Manoela de Oliveira Veras & José Baltazar Salgueirinho Osório de Andrade Guerra, 2020. "Sustainable development and corporate financial performance: A study based on the Brazilian Corporate Sustainability Index (ISE)," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(4), pages 960-977, July.
    11. Isabel‐María García‐Sánchez & Lázaro Rodríguez‐Ariza & Beatriz Aibar‐Guzmán & Cristina Aibar‐Guzmán, 2020. "Do institutional investors drive corporate transparency regarding business contribution to the sustainable development goals?," Business Strategy and the Environment, Wiley Blackwell, vol. 29(5), pages 2019-2036, July.
    12. Ahseon Lee & Jong Dae Kim & Seong Mi Bae, 2024. "Determinants of Global Banks’ Climate Information Disclosure with the Moderating Effect of Shareholder Litigation Risk," Sustainability, MDPI, vol. 16(6), pages 1-30, March.

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