Characteristics of executives’ education and corporate sustainability: evidence from disclosure of environmental, social, and governance

Xiaojuan Hou () and Ming Jin ()
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Xiaojuan Hou: China University of Geosciences, School of Economics and Management
Ming Jin: Zhejiang University of Finance & Economics, School of Economics

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2025, vol. 27, issue 11, No 90, 28279 pages

Abstract: Abstract We examine the effect of executives’ educational characteristics on corporate environmental, social, and governance (ESG) disclosure. According to upper echelons theory, enterprises’ decisions depend on managers’ traits. We find that the level of education received by executives affects the level of corporate disclosure. Moreover, the major they study can further influence this effect. This improvement is mainly driven by the high non-shareholder-oriented ESG, environmental innovations, earnings, and sensitivity to environmental policies channel. Heterogeneity analysis finds that this conclusion holds for SOEs and nonpolluting firms. Further analysis proves that apart from the education level of senior executives, that of supervisors and directors plays a role in ESG disclosure. In addition, their education level improves the greenwashing risks. The proportion of major in liberal arts enriches this effect, which must be carefully identified.

Keywords: Corporate sustainability; ESG disclosure; Executive characteristic; Education (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10668-025-06400-3

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