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This study aims to explore the impact of brain gain in terms of foreign directors on environmental protection spending. Using a sample of heavy-polluting A-share firms listed on the Shanghai and Shenzhen stock exchanges from 2016 to 2019, we find robust evidence that board with more foreign directors spend more on environmental protection and this relationship is more pronounced in stated-owned enterprises. This paper provides important implications for the policy makers to enhance the environmental rules and regulations through better corporate governance. [ABSTRACT FROM AUTHOR]

IPO firms in the technology industry are regarded as vulnerable due to their limited resources, inexperience, and relatively short technology and product lifecycles. They also lack a track record to signal to the market that they are equipped with sufficient ability to overcome the challenges faced in this highly competitive environment. This study examines whether board diversity helps IPO firms perform better in such a challenging environment; furthermore, we explore the potential contingencies that magnify or weaken the benefits of board diversity by examining how its impact is moderated by firm size and board tenure. Using a sample of 363 IPO events within technology firms over 11 years, we find that higher board diversity is associated with better post-IPO performance; however, a larger firm size and longer board tenure decrease the value created by board diversity. The findings are robust to alternative measures of performance and board diversity. Our study contributes to the literature by demonstrating the significant impact of board diversity on the performance of technology IPO firms as well as explaining the conditions under which boards effectively execute their resource dependence roles. [ABSTRACT FROM AUTHOR]

Using a sample of Chinese listed enterprises over the 2010–2020 period, this study examines and empirically tests the impact of board diversity on inefficient investment. Drawing on principal-agent theory and resource dependence theory, the analysis is conducted within a comprehensive framework. The study provides evidence that board diversity plays a crucial role in mitigating inefficient investment in enterprises by effectively restraining both overinvestment and underinvestment. Mechanism tests indicate that under conditions of high agency costs and high financing constraints, board diversity exerts a stronger inhibitory effect on inefficient investment. Cross-sectional tests show that the impact of board diversity on inefficient investment varies under different ownership properties, firm sizes and levels of marketization. By comprehensively considering multiple characteristics of board diversity, this research fills the research gap and expands the perspectives on inefficient investment in enterprises. It provides valuable insights for shareholders and enterprises on effectively structuring their boards of directors. [ABSTRACT FROM AUTHOR]

The Kenyan government has implemented numerous reforms, including the inclusion of the manufacturing sector as one of the government's four major agendas for revitalizing the sector. Despite these reforms, statistics show that over the last ten years, manufacturing industries in Kenya listed on the Nairobi Securities Exchange have experienced stagnation and declining profits, slowing growth, and declining market share, necessitating the establishment and execution of effective corporate governance. Therefore, the current study investigated the effects of corporate governance on performance of manufacturing and allied firms listed at Nairobi Security Exchange, Kenya. The study specifically investigated the effects of board composition, board size, board independence and board diversity on performance of manufacturing and allied firms. Agency theory, RBV and stakeholder's theory anchor the study. Descriptive research design was used. Stratified random sampling technique was used as a sampling technique. A self-administered semi-structured questionnaire was used to collect primary data from a population of four hundred and thirty-nine manufacturing and allied firms. Two hundred and nine corporate managers from these manufacturing companies were sampled. A pilot test of twenty-nine respondents was conducted. Collected data was coded, cleaned, and analyzed. Data analysis included the creation and interpretation of descriptive means, percentages, and standard deviations, which was presented in the form of tables, charts, and graphs. The results of regression analysis established that board composition, board size, board independence and board diversity significant influenced firm performance of manufacturing and Allied Firms listed at the Nairobi Securities Exchange, Kenya. [ABSTRACT FROM AUTHOR]

The objective of this study is to analyze the impact of intellectual capital (IC) and its components on firm financial performance using data from Chinese agricultural listed companies during 2015–2020. The moderating role of board diversity in the relationship between IC and firm financial performance is also tested. The modified value-added intellectual coefficient (MVAIC) model is used to measure IC, and board diversity is measured by several indicators, such as diversity in gender, experience, professional background, and educational background. The results suggest that the overall IC and only one element (human capital) positively influence firm financial performance. Diversity in gender, professional background, and educational background positively moderate the relationship between IC and financial performance, while experience diversity has a negative moderating effect. Among IC components, experience diversity, and educational background diversity negatively moderate the relationship between human capital and financial performance. In addition, gender diversity and experience diversity have a negative moderating effect on the relationship between physical capital and financial performance, while professional background diversity and educational background diversity have a positive moderating effect. This study can provide some new insights for managers to devise strategies to improve IC performance and strengthen corporate governance in order to achieve sustainable development of the agricultural industry. It also can guide policymakers in making policies to improve IC efficiency and firm performance. [ABSTRACT FROM AUTHOR]

The rapid advancement of information technologies, such as the Internet of Things and big data, has created favorable conditions for digital transformation, which has main effects on the sustainable development of enterprises. Drawing upon stakeholder theory, this article employs text analysis to construct indicators for corporate digital transformation using data from A-share listed companies between 2015 and 2022. Meanwhile, ESG performance is utilized as a measure of corporate sustainable development. Through both theoretical inquiry and case study, this study investigates the influence of digital transformation on sustainable development in enterprises and arrives at the following conclusions: (1) Digital transformation exerts a substantial positive effect on the sustainable development of enterprises. Board diversity plays a moderating role in this relationship; age diversity and gender diversity weaken its promoting effect while experience diversity enhances its positive influence. These findings remain robust after conducting various tests to ensure validity and addressing endogeneity concerns; (2) Heterogeneity tests reveal that compared to non-state-owned enterprises and high-tech firms, digital transformation has a more pronounced promoting effect on sustainable development levels within state-owned enterprises and non-high-tech companies. This article offers novel research perspectives on how digitization drives corporate sustainability in the digital era while providing practical insights for companies aiming to achieve both digital transformation and sustainable development. [ABSTRACT FROM AUTHOR]

This study examines the impact of geographic income diversification of large European banks on performance and risk‐taking by using unique data. By dividing the total operating income into three regions as the home country, the rest of Europe and the rest of the world, we find evidence that geographic income diversification reduces bank performance and increases risk‐taking. Particularly, shifting operations from home countries to other European countries or the rest of the world reduces bank performance and enhances risk‐taking unless the bank is highly concentrated in these areas. We also identify contributing channels, including the "follow‐the‐customer" hypothesis, new subsidiaries and board diversity, to explain the adverse effect. [ABSTRACT FROM AUTHOR]

Purpose This study aims to investigate how board diversity affects financial reporting quality by examining the relationship between board size, composition, and independence. Methodology The panel data of 32 firms from the Agriculture, Consumer Goods, Industrial Goods, Natural Resources, and Oil and Gas sectors were obtained from two published sources - the Nigerian Exchange Group (NXG) and audited financial statements of the companies from 2012 to 2021. The heteroskedasticity-corrected – the panel corrected standard error approach was used to test the firm-level data Findings The result shows that board size and structure have a negative and significant impact on earnings management, while the impact of board independence is positive but not significant. This indicates that a negative significant influence on earnings management corresponds to improved financial reporting quality, while a positive significant influence corresponds to deteriorated financial reporting quality. Therefore, only board size and board structure are considered as board characteristics that impact financial reporting quality. Conclusion The study concludes that quality financial reporting is important for participants in the capital markets to make informed decisions. The paper offers regulatory bodies more insights to support direction for support reforms, policy-making, and enforcement.

This study aims to analyze and explain the effect of board diversity, competitive advantage, and firm size on firm value in basic materials sector companies listed on the Indonesian Stock Exchange from 2017 to 2022. The sample of this study used 30 companies from a population of 42 companies that met the sampling criteria, and this study used Partial Least Squares (PLS) method. The results show that board diversity has a negative and significant effect on firm value, competitive advantage has a positive and significant effect on firm value, and firm size has a positive and significant effect on firm value. Board diversity has a significant negative effect on firm value, highlighting the importance of consideration in the formation of an inclusive and diverse board composition. On the other hand, the finding that competitive advantage and firm size have a significant positive effect on firm value suggests that internal factors such as economies of scale, capital requirements, and firm size play an important role in determining firm value. These findings provide valuable insights for business practitioners to enhance firm value in the Indonesian natural resources industry.

Board diversity is a topical discourse in firm governance and management. Diversity came up as a way of eliminating discrimination in employment and making sure there is equality, inclusion and affirmative action in the way firms do business. Board diversity has produced mixed results in relation to firm performance. On the one hand, diversity enables good governance to take place, ensures satisfaction of stakeholders and the firm to attain competitive advantage. Contrary, diversity may come with difficulties in communication, boardroom fights and decreased productivity among a plethora of negative contributions. The study investigates the various factors that affect board diversity from a Zimbabwean context. The Zimbabwe Stock Exchange’s 35 firms’ data is analysed to estimate the relationship between board diversity and firm performance. The study employed the quantitative methodology to establish factors that influence board diversity on firm performance of thirty-five (35) firms listed on the Zimbabwe Stock Exchange using panel data collected over the period 2009 – 2015.The major factors that promote diversity are firm size, liquidity, leverage, operating experience (years listed), market share (Tobin’s Q) and being in the service sector. On the other hand, board size, being in the food, financial, real and industrial and manufacturing sectors negatively and significantly influence diversity. Based on the above results, the study recommends that companies should come up with diversity-enabling policies to enhance firm performance.

This study aimed to investigate how Board of Director (BOD) diversity affected sustainability reporting in Islamic banks in Indonesia. The effectiveness of three supervisory bodies, namely the Board of Commissioners (BOC), the Audit Committee (AC), and the Sharia Supervisory Board (SSB), was explored to determine their ability to enhance sustainability performance. The study was based on a sample of 13 Islamic banks listed with the Financial Services Authority between 2012 and 2021. Moderated Regression Analysis was applied to test the hypotheses. It was found that board diversity had a positive influence on sustainability reporting. The regression results for all three moderation variables showed positive and significant findings, indicating that the interactions between the BOC, the AC, the SSB, with the BOD played an effective role in enhancing sustainability disclosure. board 'diversity's importance and supervisory boards' effectiveness. This study fills a research gap on the relationship between corporate governance and sustainability disclosure, especially in developing countries that adhere to a dual board governance system, specifically Islamic banks that comply with Sharia governance. The research results underscore the need for a diverse board of directors and the effectiveness of the supervisory board as the party responsible for meeting stakeholder demands through its role in encouraging companies to be actively involved in sustainability performance. Plain language summary: Companies today are not only focused on achieving financial targets such as increasing profits, but must also be able to benefit the welfare of society and environmental sustainability. Therefore, it is important for companies to engage in sustainability-oriented activities. Reporting on company sustainability activities is required for parties who have a relationship with the company. It cannot be denied that sustainability activities and reporting will run well if all elements of the company work optimally, including the operational executive board and company supervisory board. [ABSTRACT FROM AUTHOR]

With the growing interest in understanding how environmental, social, and governance (ESG) factors interact and influence one another, as evidenced by increased attention from decision-makers, policymakers, stakeholders, investors, and corporate managers, this research aims to advance the existing literature on the subject (Ahmad et al., 2021; Al-Jaifi et al., 2023). This research aims to address a gap in the literature by examining the influence of board diversity (BD) in terms of board independence (BI) and gender diversity (GD) (i.e., female directors) on corporate ESG performance (ESGP), specifically considering the moderating effect of these two variables on the relationship between corporate profitability (CP) and ESGP. The analysis is based on a dataset encompassing 126 firm-year observations from 30 Saudi non-financial public listed companies spanning the period from 2013 to 2022. The results of the direct models show that CP has an insignificant negative impact, while BD, particularly in terms of independent directors and female directors, enhances ESGP. Moreover, the results from the moderation models indicate that while BI does not show a statistically significant positive impact on the relationship, GD demonstrates an insignificant negative effect on ESGP. [ABSTRACT FROM AUTHOR]

Research Question/Issue: How have social movements influenced the diversity of Australian corporate leadership? Although board diversity is crucial for corporate governance, the research in this topic is bifurcated between studies examining interlocking directorates and the presence of boardroom gender diversity. Research Findings/Insights: In this study, we use a novel dataset and method to understand board diversity. We integrate the analysis of social diversity (structural connections) and demographic diversity among ASX50 boards in 2019 and 2023. Social network analysis (SNA) reveals a closely connected corporate community, with prosopography data identifying a narrow range of "acceptable" demographic characteristics. Theoretical/Academic Implications: We extend institutional theory by examining the role of global social movements (GSMs) for the destructuration of board appointment practices and the resulting uneven progress on equality. Activism from the global feminist movement has applied multi‐dimensional coercive and normative pressures to develop a "pipeline" and "catalyst" for women's board appointments. Simultaneously, the absence of targeted action on other diversities and the intensification of directors' professional requirements have institutionalized the group's social and demographic profile. Practitioner/Policy Implications: These findings are relevant to policymakers and corporations, highlighting the role of social movements for disrupting the status quo and the multidimensional institutional pressures needed to destructure entrenched appointment practices. [ABSTRACT FROM AUTHOR]

This paper seeks to explore the impact of gender and age diversity within the board of directors, as well as the appointment of a female CEO, on the return of assets (ROA) and Tobin Q of banks on a global scale. The study is motivated by the growing interest in how the quality of human capital within boardrooms affects the performance of banks, as well as the conflicting results of previous research on this topic. To conduct the study, panel regressions with fixed effects were employed as the research method. The sample consisted of 470 banks, including 146 banks from emerging markets, and data was collected from 2013 to 2023. The findings revealed that gender diversity within the board had a significant and negative impact on banks' Tobin's Q. Additionally, there was no significant relationship found between gender diversity and banks' ROA, as well as between age diversity and both banks' ROA and Tobin's Q. The appointment of a female CEO harmed banks' Tobin Q in emerging markets, but no significant influence was found on ROA and Tobin Q in banks in the developed world. As a result, it appears that banks' investors do not view gender diversity as separate from other human capital issues within the boardrooms and may not derive significant financial benefits from gender and age diversity. These findings can be valuable for strategic controlling in evaluating the impact of human capital on the boards and executive branches of financial institutions. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the impact of interlocking directorships on firm performance in Turkey, with a specific focus on the moderating role of board diversity. Design/methodology/approach: Using a panel dataset comprising the top 100 firms listed on Borsa Istanbul from 2014 to 2018, this study employs regression analysis to investigate the relationship between interlocking directorships, board diversity, and firm performance. It firm-level financial data and directorship information to assess the effects of interlocking directorships on firm performance while also considering the moderating influence of board diversity. Findings: The findings of this study reveal several important insights. First, the results confirm the "busyness hypothesis" as an increase in the number of interlocks per director negatively impacts firm performance, indicating reduced monitoring effectiveness. However, the study also demonstrates that board diversity plays a significant moderating role. Specifically, board diversity positively influences the relationship between interlocking directorships and firm performance, suggesting that a diverse board can mitigate the negative effects of interlocks and enhance overall firm performance. Originality/value: This study contributes to the existing literature in several ways. First, this study extends our understanding of the relationship between interlocking directorships and firm performance, considering contingency factors in the Turkish market. Second, our findings imply that board diversity mitigates the negative impact of busy interlocking directorates and improves firm performance, which provides invaluable directions to firms in setting their boards. Moreover, this research enhances corporate governance practices in Turkey and beyond in other emerging markets with similar corporate governance mechanisms by identifying the importance of board diversity and its moderating influence. [ABSTRACT FROM AUTHOR]

Board diversity is a topical discourse in firm governance and management. Diversity came up as a way of eliminating discrimination in employment and making sure there is equality, inclusion and affirmative action in the way firms do business. Board diversity has produced mixed results in relation to firm performance. On the one hand, diversity enables good governance to take place, ensures satisfaction of stakeholders and the firm to attain competitive advantage. Contrary, diversity may come with difficulties in communication, boardroom fights and decreased productivity among a plethora of negative contributions. The study investigates the various factors that affect board diversity from a Zimbabwean context. The Zimbabwe Stock Exchange's 35 firms' data is analysed to estimate the relationship between board diversity and firm performance. The study employed the quantitative methodology to establish factors that influence board diversity on firm performance of thirty-five (35) firms listed on the Zimbabwe Stock Exchange using panel data collected over the period 2009 - 2015. The major factors that promote diversity are firm size, liquidity, leverage, operating experience (years listed), market share (Tobin's Q) and being in the service sector. On the other hand, board size, being in the food, financial, real and industrial and manufacturing sectors negatively and significantly influence diversity. Based on the above results, the study recommends that companies should come up with diversity-enabling policies to enhance firm performance. [ABSTRACT FROM AUTHOR]

Purpose – This study aims to see the moderating effect of board diversity on the relationship between ownership structure and real earnings management. Design/methodology/approach – This study uses unbalanced panel data of 75 listed energy firms (346 firm-year observations) from three South Asian emerging economies (Bangladesh, India, and Pakistan) from 2015 to 2019. The two-step system GMM estimation is used for data analysis. This study also uses fixed effect regression to obtain robust findings. Findings – The findings show that firms with a greater ownership concentration and managerial ownership significantly reduce real earnings management. In contrast, the data refute the idea that institutional and foreign ownership affect real earnings management. We also find that board diversity interacts significantly with ownership concentration and managerial ownership, meaning that board diversity moderates the negative link of the primary relationship that reduces real earnings management. On the other hand, board diversity has no interaction with institutional and foreign ownership, implying no moderating effect exists on the primary relationship. Originality/value – To the best of the authors’ knowledge, this is unique research investigating how different ownership structures affect real earnings management in the emerging nations’ energy sector, which the earlier studies overlook. More specifically, this research focuses on how board diversity moderates the relationships between ownership structure and real earnings management, which could be helpful for future investors.

The main objective of the study is to examine the effect of board characteristics, such as board independence, board diversity (BDv) and absence of chairman-duality, and commitment to environmental disclosures on the voluntary adoption of integrated reporting (IR) in the Indian companies. India presents a unique setting for research study in terms of its voluntary framework and the accelerating adoption of IR framework by companies in India. The sample set comprised the companies listed in the Nifty 50 index of National Stock Exchange of India. The study employed a content analysis method to collect the data relating to board characteristics, environmental commitment (EC) and adoption of IR for the period 2014–2015 to 2020–2021. It was found that board independence, absence of chairman duality, EC, leverage (Lev), firm size and profitability were significantly related to the IR. BDv and firm age were not found to have any significant impact on IR by the sample companies. The study emphasizes the role of board independence (Bin) as an important determinant in explaining the reporting choices of a company. It makes a unique contribution to literature by investigating the impact of companies’ EC on the adoption of IR.

The Corporates’ operations play a crucial role in environmental, social, and governance (ESG) practices to improve green innovation; thus, how to promote green practices through effective ESG reporting has attracted the attention of researchers. Through this lens, the current study seeks to explore the impact of ESG reporting on the direct and interaction impact of board diversity on green innovation in the context of a developed economy like the U.S. A total of 334 non-financial companies listed in the S&P 1500 Index were sampled for the period 2010 to 2021. Results of the study revealed that ESG rating has a significant and positive impact on the environmental pillar (EPS) and innovation scores (EIS). In addition, the CSR strategy score also has a positive relationship with EPS. Furthermore, board diversity positively impacts the relationship between ESG score, EPS, and EIS. Findings indicate that ESG reporting in U.S. firms improves green revenues, product innovation, and R&D activities aimed at promoting green innovation practices. Secondly, the CSR score also positively contributes to green innovation. Larger social and environmental practices (CSR) in US companies indicate higher eco-efficiency and implementation of clean technologies. In addition, board diversity in the US firms fosters green innovation through investments in green technologies and manufacturing eco-designed products. Based on our research findings, this study supports the stakeholder theory, a resource-based view, and the Upper-echelon theory.

Prior research suggests that board diversity, especially in terms of gender, potentially enhances its effectiveness. However, as a construct, diversity extends beyond gender to encompass board members' other demographic attributes as well as cognitive features such as attitudes, values, beliefs, knowledge, skills and capabilities. We expect these two sides of diversity, which we label demographic and cognitive, to play a critical role in determining a firm's corporate social responsibility (CSR) disclosure. For our purpose, CSR performance and disclosure comprise environmental and social dimensions. Our results show that social performance exhibits a positive relation to a board's demographic and cognitive diversities, while environmental performance relates to cognitive diversity, but not demographic diversity. Moreover, both forms of diversity mediate the positive relationship between social performance and social disclosure quality, while only demographic diversity mediates the positive relationship between environmental performance and environmental disclosure quality. [ABSTRACT FROM AUTHOR]

We examine the influence of board ethnic diversity on firms' corporate social responsibility (CSR) activities within modern day corporations. Using firm‐year observations in Australia from the period 2004–2017, we document that board ethnic diversity leads to better CSR performance and CSR disclosure. Our results suggest that for every additional ethnic cluster represented on the board, on average, a firm's CSR performance rating from ASSET4 is higher by 2.6% and the odds ratio of producing a CSR report increases by 38.8%. The results are robust to controlling for endogeneity (using both instrumental variable approach and difference‐in‐differences analysis) and alternate proxies to measure CSR performance and ethnic diversity. We also document the moderating impact of Chief Executive Officer (CEO) power on the relationship between board ethnic diversity and firms' CSR activities. Specifically, a less powerful CEO and a CEO of ethnic minority (i.e., non‐Anglo) are more likely to facilitate this relationship. This study adds to our understanding of how board ethnic diversity, an often‐overlooked factor in prior research, can have significant impacts on firm outcomes. [ABSTRACT FROM AUTHOR]

This study explores Indigenous Australians' participation on corporate boards. We confirm the significant under‐representation of Indigenous Australians on corporate boards. Using data collected from semi‐structured interviews with business leaders, we explore their perceptions of cultural diversity and pathways to directorships provided by corporate Australia for Indigenous Australians. Australian business leaders perceive the importance of cultural diversity (particularly in terms of its myriad benefits such as enhanced decision making), acknowledge the problem of limited diversity, and provide insights to improve diversity. Key pathways for Indigenous Australians include skills and experience, education and training, reputation, networking and organisational support. [ABSTRACT FROM AUTHOR]

We build on and extend the literature on corporate governance and sustainability by examining whether indigenous directors (IDs, hereinafter) shape corporate environmental performance (CEP, hereinafter). Drawing insights from image motivation, resource dependence, and critical mass theories, we develop models that link IDs with CEP. Analyzing 1,372 firm‐year observations extracted from firms listed on the Johannesburg Securities Exchange (JSE, hereinafter), for the period spanning from 2015 to 2021, we provide robust evidence that IDs are positively associated with a firm's environmental performance and the association is driven primarily by non‐executive and female IDs. In additional analyses, we demonstrate that a token appointment of IDs to a firm's board would not have an impact on CEP, while the appointment of a "critical mass" of IDs promotes CEP. We also find that a higher percentage of IDs on a firm's board increases corporate financial performance (CFP, hereinafter) and reinforces the positive impact of CEP on CFP. Our findings suggest that appointing a higher proportion of IDs to a firm's board promotes both the financial as well as the environmental performance of the firm. Thus, companies could exploit the virtues of especially non‐executive and female IDs to promote corporate environmental sustainability. [ABSTRACT FROM AUTHOR]

Purpose: The study hypothesized that the impact of board diversity on financial distress (FD) is not direct but rather mediated by the firm's corporate social responsibility (CSR) activities. Consequently, the purpose of this study is to examine the impact of CSR as a mediator in the board diversity–FD relationship. Design/methodology/approach: The study examined six board diversity dimensions – age, gender, nationality, education and tenure in 81 nonfinancial Pakistan Stock Exchange (PSX)-listed firms from 2010 to 2021. The CSR engagement of the sample firms is evaluated using a multidimensional financial approach and the likelihood of FD is computed using Altman's Z-score. The system-generalized method of moments estimator is used to meet the study objectives. In addition, several tests are run to determine the robustness of the study's findings. Findings: Based on the procedure for mediation analysis outlined by Baron and Kenny (1986), the authors found that CSR is significantly inversely associated with the likelihood of FD. Second, board diversity variables age, gender and national diversity were positively associated with CSR. Third, board age, gender and national diversity are significantly inversely related to FD. Finally, it was found that there is partial mediation between board age diversity and FD, whereas full mediation is shown between board age diversity and FD and between board nationality diversity and FD. Practical implications: This study provides practical insights into PSX's board diversity for companies, regulators and policymakers. Originality/value: This research studies the connection between board diversity and FD. In addition, the current study extended the analysis by testing for the first time the mediating role of CSR in the diversity–distress relationship, particularly in the context of an emerging economy. [ABSTRACT FROM AUTHOR]

This study examines Corporate Social Responsibility (CSR) and Earnings Management (EM) relationship with moderating role of board diversity of two types, i.e., female and foreign directorships on board. Content analysis is used for measurement of CSR through a data sample of 274 firms from the non-financial sector listed on Pakistan stock exchange for years 2012, 2014, and 2015. However, EM is measured over three discretionary accruals models Jones, Modified Jones, and Kothari models. Based on the results of descriptive analysis, it has been found that the level of CSR reporting has been improved in the post-CSR guidelines period as compared to the pre-CSR guidelines period. While results of regression analysis report that the higher CSR level of an organization the lesser would be the EM activities. This study suggests managers to concentrate upon CSR and board diversity for better earning management. Impact of board diversity on relationship as a moderator makes this study more novel because, as far as our research and previous literature is concerned, there has been very limited literature on this topic. [ABSTRACT FROM AUTHOR]

The purpose of this systematic literature review is to provide a comprehensive overview of the methods used to measure board diversity. We develop a framework to structure empirical studies and develop an agenda for future research. We selected 61 empirical articles from an initial sample of 1035. This study discusses the different data collection methods. We group director and board attributes into the constructs of structural, demographic, and cognitive diversity. We identify four different approaches to combining and measuring diversity: non‐index, single‐index, cross‐indices, and inter‐indices. We find that measuring board diversity requires a mixture of archival and primary research, as well as various methods such as applying indices, constructing heterogeneity scores, and using machine learning approaches to infer directors' attributes. We contribute to research by providing a framework that structures measuring techniques for board diversity, a future research agenda, and insights on potential window‐dressing. [ABSTRACT FROM AUTHOR]

This paper examines corporate social responsibility (CSR) and advertising as two firm visibility channels and tests their complementarity/substitution. The study extends the investigation with moderating variables, including board gender diversity, CSR committees, and financial slack. Using a sample that includes 53,835 firm‐year observations worldwide associated with 10 business sectors from 2007 to 2019, we find that CSR performance is negatively associated with advertising; this holds for the aggregate CSR score as well as for environmental and social pillars but not for the governance pillar. This implies that two visibility channels—namely CSR and advertising—are substitutes except for the governance dimension. Furthermore, female directors do not advocate for the two visibility channels but instead are proponents of one, in line with the agency cost approach. However, CSR committees fully promote two communication channels supported by the composite and three individual pillars of CSR. Finally, financial slack matters in utilizing two publicity channels concurrently. The findings show that several contingencies must be taken into account to improve companies' visibility while avoiding exacerbating agency costs for better business management. [ABSTRACT FROM AUTHOR]

This research aims to examine the influence of board diversity, measured in terms of gender, education, and age, on company performance. The study utilizes panel data, with a total sample of 1,080 companies listed on the Indonesia Stock Exchange (IDX) during the period from 2019 to 2021. The findings indicate that board diversity in terms of gender and education significantly and positively affects company performance, as measured by Return on Assets (ROA). However, directors' age diversity does not significantly impact company performance. Based on the coefficient of determination, the diversity variables in this study can only explain 3.86% of the variation in company performance, while the remaining 96.14% is attributed to other variables not included in this research model. Therefore, it is recommended to consider these research findings as a foundation, but also to consider each company's unique context and characteristics.

Having foreign directors on board has both positive and negative sides while the overall effect of the foreign directors on firm performance is still inconclusive in literature. In this paper, we examine the relation between foreign directors and firm performance measured by return on assets in Vietnam. Using a sample of 175 firms with 955 observations from 2013 to 2019, we find that having foreign directors on board who have better expertise, experience, and networks is positively related to firm performance. However, employing additional foreign directors generally does not bring more benefits due to more misunderstandings and slower decision making, except when all foreign directors are from similar economic development backgrounds. The results contribute to inconclusive literature by adding more understandings of the context in which the foreign directors have an positive impact positively on firm performance. The findings also have practical implications for recruiting foreign directors in Vietnamese firms.

The purpose of this research is to analyze how financial performance and board diversity affect the disclosure of sustainability reports. This study collects samples through purposive sampling technique. A total of 125 samples data were taken from companies in Indonesia that were included in Bursa Efek Indonesia, for six consecutive years, which disclosed sustainability reports. The year under study is the latest and closest year, 2017-2022. Disclosure of sustainability reports will use the GRI Standards 2016 with total assessment of 77 items, each item listed will be given a value of one. Financial performance proxied by return on assets, return on equity and Tobin’s q. Board diversity is proxied by board gender, board independent and board education. The result showed that financial performance, board gender, board independent has significant positive effect on sustainability report disclosure. Board education has no effect on sustainability report disclosure. The research findings good financial performance indicates that management is good at managing the company and is responsible to stakeholders; this has an impact on sustainability disclosure. Existence and representation of women in the leadership of a company can be one of the drivers of companies to be more concerned with voluntary disclosures and larger independent board commissioners represents that their role to lead the strategy and policies related to sustainability issues. Meanwhile, diversity of educational background is unable to encourage management on better perspective to social and environmental concerns.

The objective of this study is to analyze the impact of intellectual capital (IC) and its components on firm financial performance using data from Chinese agricultural listed companies during 2015–2020. The moderating role of board diversity in the relationship between IC and firm financial performance is also tested. The modified value-added intellectual coefficient (MVAIC) model is used to measure IC, and board diversity is measured by several indicators, such as diversity in gender, experience, professional background, and educational background. The results suggest that the overall IC and only one element (human capital) positively influence firm financial performance. Diversity in gender, professional background, and educational background positively moderate the relationship between IC and financial performance, while experience diversity has a negative moderating effect. Among IC components, experience diversity, and educational background diversity negatively moderate the relationship between human capital and financial performance. In addition, gender diversity and experience diversity have a negative moderating effect on the relationship between physical capital and financial performance, while professional background diversity and educational background diversity have a positive moderating effect. This study can provide some new insights for managers to devise strategies to improve IC performance and strengthen corporate governance in order to achieve sustainable development of the agricultural industry. It also can guide policymakers in making policies to improve IC efficiency and firm performance.