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Board composition, sustainability committee and corporate social and environmental performance in Australia

Author

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  • Pallab Kumar Biswas
  • Mansi Mansi
  • Rakesh Pandey

Abstract

Purpose - The purpose of this study is to examine the impacts of board gender composition, board independence and the existence of a board sustainability committee on the corporate social and environmental performance of Australian firms. Design/methodology/approach - The dataset comprises 2,188 Australian Securities Exchange listed firm-year observations (407 individual firms) from 2004 to 2015. The ASSET4 environmental, social and governance database is used to measure corporate social and environmental performance and their sub-dimensions. Findings - Our results show that firms with higher board gender composition, greater board independence and sustainability committees tend to have better social and environmental performance. This paper also provides empirical evidence of the positive association of these variables on the sub-dimensions of social and environmental performance. The results are robust after controlling for self-selection and various forms of endogeneity. Originality/value - This is the first study that examines the relationship between sustainability committees and corporate social and environmental performance in the context of Australia. This study also overcomes the relatively small sample size and shorter study period issues of similar studies in Australia that provide inconclusive evidence on the relationship between each of board gender composition, board independence and corporate social and environmental performance.

Suggested Citation

  • Pallab Kumar Biswas & Mansi Mansi & Rakesh Pandey, 2018. "Board composition, sustainability committee and corporate social and environmental performance in Australia," Pacific Accounting Review, Emerald Group Publishing Limited, vol. 30(4), pages 517-540, November.
    • Handle: RePEc:eme:parpps:par-12-2017-0107
    DOI: 10.1108/PAR-12-2017-0107
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    Citations

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    Cited by:

    1. Meiryani Meiryani & Shi-Ming Huang & Dezie Leonarda Warganegara & Moch Doddy Ariefianto & Vaeren Teresa & Helda Oktavianie, 2023. "The Effect of Industrial Type, Environmental Performance and Leverage on Carbon Emission Disclosure: Evidence from Indonesian LQ45 Companies," International Journal of Energy Economics and Policy, Econjournals, vol. 13(4), pages 622-633, July.
    2. Nebedum Ekene Ebele & Seong Mi Bae & Jong Dae Kim, 2023. "The Impact of Chief Sustainability Officers on Environmental Performance of Korean Listed Companies: The Mediating Role of Corporate Sustainability Practices," Sustainability, MDPI, vol. 15(20), pages 1-17, October.
    3. Clara Gallego‐Sosa & Yakira Fernández‐Torres & Milagros Gutiérrez‐Fernández, 2024. "The 2030 Agenda and sustainable development in tourism firms: Board gender diversity and environmental policy on natural resource use," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 629-649, January.
    4. Zhongtian Li & Jing Jia & Larelle (Ellie) Chapple, 2022. "The corporate sustainability committee and its relation to corporate environmental performance," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 31(5), pages 1292-1324, July.
    5. Charl de Villiers & Jing Jia & Zhongtian Li, 2022. "Corporate social responsibility: A review of empirical research using Thomson Reuters Asset4 data," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(4), pages 4523-4568, December.
    6. Hien Thi Thuc Nguyen & Subhan Ullah & Hanh Thi My Le & Affan Hameed, 2023. "Sustainability Targets in Executive Remuneration Contracts and Corporate Sustainability Performance in the United Kingdom and European Union," Environment Systems and Decisions, Springer, vol. 43(3), pages 393-415, September.
    7. Yu‐Lin Chen & Mei‐Chu Huang, 2023. "Water usage reduction and CSR committees: Taiwan evidence," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1070-1081, May.
    8. Soana, Maria Gaia, 2024. "Environmental strategies, environmental performance and board sustainability committees: Are financial and non-financial companies different?," Research in International Business and Finance, Elsevier, vol. 69(C).
    9. Pompei MITITEAN & Mihai-Alexandru GHIGIU, 2024. "Understanding the Role of Corporate Governance in Driving Sustainability in Europe," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 5(3), pages 62-73, March.
    10. Arcangelo Marrone & Vincenzo Pontrelli & Lara Oliva, 2024. "Boards of Directors and High-Tech Sectors Affect ESG Disclosure Quality: An Empirical Analysis of Global Firms," International Journal of Business and Management, Canadian Center of Science and Education, vol. 18(6), pages 1-97, January.
    11. Mariasole Bannò & Emilia Filippi & Sandro Trento, 2023. "Women in top echelon positions and their effects on sustainability: a review, synthesis and future research agenda," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(1), pages 181-251, March.
    12. Zhongtian Li & Jing Jia & Larelle J. Chapple, 2022. "Textual characteristics of corporate sustainability disclosure and corporate sustainability performance: evidence from Australia," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 31(3), pages 786-816, February.
    13. García, C. José & Herrero, Begoña & Miralles-Quirós, José Luis & del Mar Mirallles-Quirós, Maria, 2023. "Exploring the determinants of corporate green bond issuance and its environmental implication: The role of corporate board," Technological Forecasting and Social Change, Elsevier, vol. 189(C).

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