Corporate governance and their impact on ESG disclosure decisions
DOI:
https://doi.org/10.12712/rpca.v.201.70156Resumo
We proposed an investigation based on agency and signaling theories to understand which factors of corporate governance are associated with the probability of the disclosure of social and environmental information. To do that, we employed a logit model on Brazilian public firms traded on B3, with data from 2010 to 2021. Following previous studies, we employ the publication of sustainability reports or similar as a proxy for disclosure. Findings indicate that higher ownership concentration decreases the likelihood of ESG disclosure, while the presence of female CEOs, greater educational attainment, and higher executive compensation are positively associated with disclosure.
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