Moving towards sustainable waste management: a critical analysis of corporate governance

Asif Saeed, Noor Zahid, Rizwan Mushtaq and Ammar Gull ()

International Journal of Business Governance and Ethics, 2024, vol. 18, issue 4/5, 554-581

Abstract: An increase in the level of greenhouse gases concentration has drawn global attention towards the preservation of the natural ecosystem. In response to stakeholders' pressure, firms are adopting sustainable business practices for reducing their impact on the environment. Among these, firms monitor their waste management practices to reduce the ecological rucksack in their production cycles. We therefore explore the relationship between corporate governance and waste management practices. Based on a panel data set of listed firms from 33 countries during 2002-2017, the results indicate that high corporate governance quality is positively associated with effective waste management practices. Our results remain robust to alternate proxies of waste management and endogeneity concerns. Moreover, the relationship between corporate governance and waste management is eminent in firms with institutional investors, BIG4 auditors, highly intense R&D structure and during the non-crisis period. We interpret our results using stakeholder theory and triple bottom line theory and provide necessary implications.

Keywords: corporate governance; waste management; waste recycled; greenhouse gases; GHG; waste reduction initiatives; WRI. (search for similar items in EconPapers)
Date: 2024
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