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Board Governance and Sustainability Disclosure: A Cross-Sectional Study of Singapore-Listed Companies

Meibo Hu () and Lawrence Loh ()
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Meibo Hu: Centre for Governance, Institutions and Organisations, NUS Business School, National University of Singapore, 1 Business Link, Singapore 117592, Singapore
Lawrence Loh: Department of Strategy and Policy, NUS Business School, National University of Singapore, 15 Kent Ridge Drive, Singapore 119245, Singapore

Sustainability, 2018, vol. 10, issue 7, 1-14

Abstract: This paper aims to investigate the relationship between board governance and sustainability disclosure in Singapore. Regression analysis is performed using cross-sectional data of Singapore-listed companies to examine the relationship between sustainability disclosure and various board governance factors, including board capacity, board independence, and board incentive. The findings show the presence of significant associations between board governance and sustainability disclosure. In terms of board capacity, companies with larger board sizes and a higher number of board meetings are more likely to practice sustainability reporting, and their reporting qualities are higher. For board independence, the percentage of independent directors positively impacts the firm’s reporting probability and quality on sustainability in Singapore. For board incentives, the practice of long-term incentives for executive directors can significantly improve both the probability and quality of sustainability reporting. The study adds to the literature on corporate governance and sustainability disclosure. It provides empirical evidence and guidance for firms and policy-makers in Singapore and beyond on how sustainability disclosure can be improved through robust board governance.

Keywords: sustainability disclosure; sustainability reporting; board governance (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
Date: 2018
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