Journal of Management & Governance

, Volume 16, Issue 3, pp 477–509

The effect of corporate governance on sustainability disclosure

Authors

  • Giovanna Michelon
    • Department of Economics and ManagementUniversity of Padova
    • Department of Economics and ManagementUniversity of Padova
Article

DOI: 10.1007/s10997-010-9160-3

Cite this article as:
Michelon, G. & Parbonetti, A. J Manag Gov (2012) 16: 477. doi:10.1007/s10997-010-9160-3

Abstract

Drawing on stakeholder theory, this paper examines the relationship of board composition, leadership and structure on sustainability disclosure. We discuss that good corporate governance and sustainability disclosure can be seen as complementary mechanisms of legitimacy that companies may use to dialogue with stakeholders. Specifically we claim that, as disclosure policies emanate from the board of directors, sustainability disclosure may be a function of the board attributes: we investigate the relationship between different characteristics of the board and sustainability disclosures among US and European companies. Our results show that in order to explain the effect of board composition on sustainability disclosure we need to go beyond the narrow and traditional distinction between insider and independent directors, focusing on the specific characteristics of each director.

Keywords

Board compositionSustainability disclosureCommunity influentialOrganizational legitimacy

Copyright information

© Springer Science+Business Media, LLC. 2010