Corporate governance and corporate sustainability performance: evidence from the emerging Asian economies

Linh-TX Nguyen

International Journal of Business Governance and Ethics, 2022, vol. 16, issue 4, 403-419

Abstract: This study investigates the relationship between corporate governance and corporate sustainability performance in the emerging Asian markets where the central role of sustainable development was perceived after the 2008 global financial crisis. We base our study on the triple bottom line approach that incorporates three dimensions of sustainability: economic, environmental, and social performance. A governance index comprising ten firm-specific provisions is proposed to summarise internal corporate governance. Consistent with agency theory, we confirm that firms with better corporate governance have better corporate sustainability performance. We also determine which main factors drive the governance-sustainability relation. The findings have practical implications for firms, shareholders, and policy makers by emphasising the role of corporate governance in assessing and enhancing corporate sustainability performance.

Keywords: agency theory; Asia; corporate governance; corporate sustainability performance. (search for similar items in EconPapers)
Date: 2022
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