TY - JOUR
T1 - The influence of board characteristics on sustainability reporting Empirical evidence from Sri Lankan firms
AU - Shamil, Mohamed M.
AU - Shaikh, Junaid M.
AU - Ho, Poh Ling
AU - Krishnan, Anbalagan
N1 - Publisher Copyright:
© Emerald Group Publishing Limited 1321-7348.
PY - 2014
Y1 - 2014
N2 - Purpose -Drawing on agency theory and legitimacy theory perspectives, the purpose of this paper is to investigate the influence of board characteristics on sustainability reporting of listed companies in the Colombo Stock Exchange (CSE), Sri Lanka. Design/methodology/approach - A sample of 148 listed companies was drawn from the CSE using stratified random sampling method and data were collected from the 2012 annual reports. The proposed hypotheses were tested using a hierarchical binary logistic regression. Findings - This study documents that board size and dual leadership are positively associated with sustainability reporting and boards with female directors are negatively associated with sustainability reporting. This study also found that sustainability reporting is likely to be influenced by firm size and firm growth. Additionally, the study also reveals that younger firms are likely to adopt sustainability reporting. Originality/value - This is the first study to examine the influence of board characteristics on sustainability reporting in Sri Lanka, considered as a developing economy with an emerging equity market.
AB - Purpose -Drawing on agency theory and legitimacy theory perspectives, the purpose of this paper is to investigate the influence of board characteristics on sustainability reporting of listed companies in the Colombo Stock Exchange (CSE), Sri Lanka. Design/methodology/approach - A sample of 148 listed companies was drawn from the CSE using stratified random sampling method and data were collected from the 2012 annual reports. The proposed hypotheses were tested using a hierarchical binary logistic regression. Findings - This study documents that board size and dual leadership are positively associated with sustainability reporting and boards with female directors are negatively associated with sustainability reporting. This study also found that sustainability reporting is likely to be influenced by firm size and firm growth. Additionally, the study also reveals that younger firms are likely to adopt sustainability reporting. Originality/value - This is the first study to examine the influence of board characteristics on sustainability reporting in Sri Lanka, considered as a developing economy with an emerging equity market.
KW - Agency theory
KW - Board characteristics
KW - Corporate governance
KW - Legitimacy theory
KW - Logistic regression
KW - Sustainability reporting
UR - http://www.scopus.com/inward/record.url?scp=85006100131&partnerID=8YFLogxK
U2 - 10.1108/ARA-09-2013-0060
DO - 10.1108/ARA-09-2013-0060
M3 - Article
AN - SCOPUS:85006100131
SN - 1321-7348
VL - 22
SP - 78
EP - 97
JO - Asian Review of Accounting
JF - Asian Review of Accounting
IS - 2
ER -