Does ownership influence ESG disclosure scores?

AA Zaid, 2020, Corporate governance practices and capital structure decisions: the moderating effect of gender diversity, Corporate Governance: Int. J. Bus. Soc., 20, 939, 10.1108/CG-11-2019-0343 Acar, 2021, Does ownership type affect environmental disclosure?, Int. J. Clim. Change Strateg. Manag., 13, 120, 10.1108/IJCCSM-02-2020-0016 Adams, 2004, The ethical, social and environmental reporting-performance portrayal gap, Account., Audit. Account. J., 17, 731, 10.1108/09513570410567791 Agrawal, 2005, Corporate governance and accounting scandals, J. Law Econ., 48, 371, 10.1086/430808 Akrout, 2013, A study of the determinants of corporate environmental disclosure in MENA emerging markets, J. Rev. Glob. Econ., 2, 46 Al Amosh, 2020, The implications of ownership structure on the environmental disclosure in Jordan, Int. J. Acad. Res. Bus. Soc. Sci., 10, 330 Al Amosh, 2022, Ownership structure and environmental, social and governance performance disclosure: the moderating role of the board independence, J. Bus. Socio-Econ. Dev., 2, 49, 10.1108/JBSED-07-2021-0094 Alareeni, 2020, ESG impact on performance of US S&P 500-listed firms, Corp. Gov.: Int. J. Bus. Soc., 20, 1409, 10.1108/CG-06-2020-0258 Albareda, 2008, The changing role of governments in corporate social responsibility: drivers and responses, Bus. Ethics.: A Eur. Rev., 17, 347, 10.1111/j.1467-8608.2008.00539.x Al-Janadi, 2016, Does government ownership affect corporate governance and corporate disclosure? Evidence from Saudi Arabia, Manag. Audit. J., 31, 871, 10.1108/MAJ-12-2015-1287 Allwood, 2006, Well dressed: the present and future sustainability of clothing and textiles in the United Kingdom, J. Home Econ. Inst. Aust., 22, 42 Alsayegh, 2020, Corporate economic, environmental, and social sustainability performance transformation through ESG disclosure, Sustainability, 12, 3910, 10.3390/su12093910 Altaf, 2022, Do operational risk and corporate governance affect the banking industry of Pakistan?, Rev. Econ. Political Sci., 7, 108, 10.1108/REPS-12-2019-0156 An, 2011, Towards a comprehensive theoretical framework for voluntary IC disclosure, J. Intellect. Cap., 12, 571, 10.1108/14691931111181733 Anon, 2021a. Business responsibility and sustainability reporting by listed entities. SEBI. (2021, May 10). 〈https://www.sebi.gov.in/legal/circulars/may-2021/business-responsibility-and-sustainability-reporting-by-listed-entities_50096.html〉. Anon, 2021b. Sebi comes out with disclosure requirements under Business Responsibility and Sustainability Report. The Economic Times. (n.d.). https://economictimes.indiatimes.com/markets/stocks/news/sebi-comes-out-with-disclosure-requirements-under-business-responsibility-and-sustainability-report/articleshow/82533681.cms." at https://www.un.org/press/en/2006/sg2111.doc.html. Atan, 2018, The impacts of environmental, social, and governance factors on firm performance: panel study on Malaysian companies, Manag. Environ. Qual.: Int. J., 29, 182, 10.1108/MEQ-03-2017-0033 Bahadori, 2021, Environmental, social, and governance factors in emerging markets: the impact on firm performance, Bus. Strategy Dev., 4, 411, 10.1002/bsd2.167 Baysinger, 1991, Effects of board and ownership structure on corporate R&D strategy, Acad. Manag. J., 34, 205, 10.2307/256308 Behl, 2021, Exploring the relationship of ESG score and firm value using cross-lagged panel analyses: case of the Indian energy sector, Ann. Oper. Res., 1 Borisova, 2012, Government ownership and corporate governance: evidence from the EU, J. Bank. Financ., 36, 2917, 10.1016/j.jbankfin.2012.01.008 Brammer, 2008, Factors influencing the quality of corporate environmental disclosure, Bus. Strategy Environ., 17, 120, 10.1002/bse.506 Buallay, 2019, Is sustainability reporting (ESG) associated with performance? Evidence from the European banking sector, Manag. Environ. Qual.: Int. J., 30, 98, 10.1108/MEQ-12-2017-0149 Cafri, 2019, A panel asymmetric causality between health and climate change: empirical evidence from EU regions. In environmental exposures and human health challenges, IGI Glob., 223 Chaganti, 1991, Institutional ownership, capital structure, and firm performance, Strateg. Manag. J., 12, 479, 10.1002/smj.4250120702 Chang, 2013, The effects of ownership and capital structure on environmental information disclosure: empirical evidence from Chinese listed electric firms, TERI Inf. Dig. Energy Environ., 12, 315 Chiong, P.T.N., 2010. Examination of Corporate Sustainability Disclosure Level and Its Impact on Financial Performance. Diss. University of Multimedia. Cho, 2007, Outside directors, ownership structure and firm profitability in Korea, Corp. Gov.: Int. Rev., 15, 239, 10.1111/j.1467-8683.2007.00557.x Danford, C., 2017. Impact of national government ownership on ESG performance in the E.U. Aalto University, School of Business. Deegan, 2002, Introduction: the legitimising effect of social and environmental disclosures–a theoretical foundation, Account. Audit. Account J., 15, 282, 10.1108/09513570210435852 Deephouse, 2008, Legitimacy in organizational institutionalism, The Sage handbook of organizational institutionalism, 49, 77 Dhanesh, 2014, CSR as organization–employee relationship management strategy: A case study of socially responsible information technology companies in India, Manag. Commun. Q., 28, 130 Eccles, 2014, The impact of corporate sustainability on organizational processes and performance, Manag. Sci., 60, 2835, 10.1287/mnsc.2014.1984 Eisenmann, 2002, The effects of CEO equity ownership and firm diversification on risk taking, Strateg. Manag. J., 23, 513, 10.1002/smj.236 Fahad, 2020, Determinants of CSR disclosure: an evidence from India, J. Indian Bus. Res., 13, 110 Fuadah, 2022, The ownership structure, and the environmental, social, and governance (ESG) disclosure, firm value and firm performance: the audit committee as moderating variable, Economies, 10, 314, 10.3390/economies10120314 Fung, 2014, The demand and need for transparency and disclosure in corporate governance, Univers. J. Manag., 2, 72, 10.13189/ujm.2014.020203 García‐Sánchez, 2020, Do institutional investors drive corporate transparency regarding business contribution to the sustainable development goals?, Bus. Strategy Environ., 29, 2019, 10.1002/bse.2485 Gillan, 2007, The evolution of shareholder activism in the United States, J. Appl. Corp. Financ., 19, 55, 10.1111/j.1745-6622.2007.00125.x Giudice, 2020, Does Audit Improve the Quality of ESG Scores? Evidence from Corporate Misconduct, Sustainability, 12, 1 Gjergji, 2021, The effects of environmental, social and governance disclosure on the cost of capital in small and medium enterprises: The role of family business status, Bus. Strategy Environ., 30, 683, 10.1002/bse.2647 Gray, 1995, Corporate social and environmental reporting: a review of the literature and a longitudinal study of UK disclosure, Account. Audit. Account., 8, 47, 10.1108/09513579510146996 Gujarati, D.N., & Porter, D.C. S.G. (2012). Basic econometrics. Henisz W., Koller T., Nuttall, R. 2019. Five ways in which ESG creates value. The McKinsey Quarterly. Holder-Webb, 2009, The supply of corporate social responsibility disclosures among US firms, J. Bus. Ethics, 84, 497, 10.1007/s10551-008-9721-4 Ifada, 2021, Government ownership, international operations, board independence and environmental disclosure: evidence from Asia–Pacific, J. Din. Akunt., 13, 131 India GDP Annual Growth Rate 1951–2020, (2020). Trading Economics. 〈〈https://tradingeconomics.com/india/gdp-growth-annual〉〉. Ioannou, I., Serafeim, G., 2010.The impact of corporate social responsibility on investment recommendations', in Academy of Management Proceedings, August, 2010(1),1–6. Jo, 2012, The causal effect of corporate governance on corporate social responsibility, J. Bus. Ethics, 106, 53, 10.1007/s10551-011-1052-1 Jyoti, 2021, Does sustainability performance impact financial performance? Evidence from Indian service sector firms, Sustain. Dev., 29, 1086, 10.1002/sd.2204 Kempeneer, 2021, Bringing the user back in the building: an analysis of ESG in real estate and a behavioral framework to guide future research, Sustainability, 13, 3239, 10.3390/su13063239 Khan, 2013, Corporate governance and corporate social responsibility disclosures: Evidence from an emerging economy, J. Bus. Ethics, 114, 207, 10.1007/s10551-012-1336-0 Khlif, 2017, Ownership structure and voluntary disclosure: a synthesis of empirical studies, Aust. J. Manag., 42, 376, 10.1177/0312896216641475 Kochhar, 1996, Institutional investors and firm innovation: a test of competing hypotheses, Strateg. Manag. J., 17, 73, 10.1002/(SICI)1097-0266(199601)17:1<73::AID-SMJ795>3.0.CO;2-N KPMG. Survey of Sustainability Reporting; KPMG: 2020 Available on https://assets.kpmg/content/dam/kpmg/be/pdf/2020/12/The_Time_Has_Come_KPMG_Survey_of_Sustainability_Reporting_2020.pdf. Lavin, 2021, ESG disclosure in an emerging market: an empirical analysis of the influence of board characteristics and ownership structure, Sustainability, 13, 10498, 10.3390/su131910498 Lee, 2020, Environmental, social and governance (ESG) practices and performance in Shariah firms: agency or stakeholder theory?, Asian Acad. Manag. J. Account. Financ., 16, 1 Li, 2010, Corporate social responsibility, ownership structure, and political interference: evidence from China, J. Bus. Ethics, 96, 631, 10.1007/s10551-010-0488-z Liu, 2017, Does family involvement explain why corporate social responsibility affects earnings management?, J. Bus. Res., 75, 8, 10.1016/j.jbusres.2017.02.001 Madhani, P.M. (2016). Ownership concentration, corporate governance and disclosure practices: A study of firms listed in Bombay Stock Exchange. Corporate Governance and Disclosure Practices: A Study of Firms Listed in Bombay Stock Exchange, 7–36. Martínez-Ferrero, 2021, The nonlinear relation between institutional ownership and environmental, social and governance performance in emerging countries, Sustainability, 13, 1586, 10.3390/su13031586 Martínez‐Ferrero, 2021, The impact of board cultural diversity on a firm's commitment toward the sustainability issues of emerging countries: The mediating effect of a CSR committee, Corp. Soc. Responsib. Environ., 28, 675, 10.1002/csr.2080 Monk, 2009, Recasting the sovereign wealth fund debate: trust, legitimacy, and governance, N. Political Econ., 14, 451, 10.1080/13563460903287280 Muttakin, 2015, Firm ownership and board characteristics: do they matter for corporate social responsibility disclosure of Indian companies? Sustainability Accounting, Manag. Policy J., 6, 138 Naser, 2006, Determinants of corporate social disclosure in developing countries: the case of Qatar, Adv. Int. Account., 19, 1, 10.1016/S0897-3660(06)19001-7 Ntim, 2013, Corporate governance and performance in socially responsible corporations: new insights from a neo-institutional framework, Corp. Gov.: Int. Rev., 21, 468, 10.1111/corg.12026 Odell, 2016, ESG investing in emerging and frontier markets, J. Appl. Corp. Financ., 28, 96, 10.1111/jacf.12181 Oh, 2011, The effect of ownership structure on corporate social responsibility: empirical evidence from Korea, J. Bus. Ethics, 104, 283, 10.1007/s10551-011-0912-z Ould Daoud Ellili, 2020, Environmental, social, and governance disclosure, ownership structure and cost of capital: Evidence from the UAE, Sustainability, 12, 7706, 10.3390/su12187706 Özcan, 2020, Determinants of environmental, social, and governance reporting of rail companies: does state ownership matter?, 153 Panicker, 2017, Ownership and corporate social responsibility in Indian firms, Soc. Responsib. J., 13, 714, 10.1108/SRJ-02-2017-0030 Patnaik, 2020, Does corporate governance affect CEO compensation in Indian manufacturing firms?, J. Public Aff., 20, 10.1002/pa.2115 Qasem, 2022, Institutional ownership types and ESG reporting: the case of Saudi listed firms, Sustainability, 14, 11316, 10.3390/su141811316 Raithatha, 2012, Corporate governance compliance practices of Indian companies, Corp. Gov., 3, 19 Rees, 2015, The influence of family ownership on corporate social responsibility: an international analysis of publicly listed companies, Corp. Gov.: Int. Rev., 23, 184, 10.1111/corg.12086 Rezaee, 2016, Business sustainability research: a theoretical and integrated perspective, J. Account. Lit., 36, 48, 10.1016/j.acclit.2016.05.003 Ricart, 2005, Sustainability in the boardroom: an empirical examination of Dow Jones Sustainability World Index leaders, Corp. Gov., 5, 24, 10.1108/14720700510604670 Ruan, 2021, Environmental, social, governance activities and firm performance: Evidence from China, Sustainability, 13, 767, 10.3390/su13020767 Rudyanto, 2017, State ownership, family ownership, and sustainability report quality: the moderating role of board effectiveness, Account. Financ. Rev. (AFR), 2, 15 Sahasranamam, 2020, Ownership structure and corporate social responsibility in an emerging market, Asia Pac. J. Manag., 37, 1165, 10.1007/s10490-019-09649-1 Sahut, 2019, Corporate social responsibility and governance, J. Manag. Gov., 23, 901, 10.1007/s10997-019-09472-2 Sandberg, 2023, Environmental, social, and governance ratings and financial performance: evidence from the European food industry, Bus. Strategy Environ., 32, 2471, 10.1002/bse.3259 Sharma, 2019, 'Resource-based view on corporate sustainable financial reporting and firm performance: evidences from emerging Indian economy', Int. J. Bus. Gov. Ethics, 13, 323, 10.1504/IJBGE.2019.099565 Shintya, F. (2018); The influence of a sustainability report on the cost of capital. Siew, 2013, The relationship between sustainability practices and financial performance of construction companies, Smart and Sustainable Built Environment, 2, 6, 10.1108/20466091311325827 Spitzeck, 2009, The development of governance structures for corporate responsibility, Corp. Gov., 9, 495, 10.1108/14720700910985034 Starks, L.T., Venkat, P., & Zhu, Q. (2017). Corporate ESG profiles and investor horizons. Available at SSRN 3049943 . Swandari, 2016, The effect of ownership structure, profitability, leverage, and firm size on corporate social responsibility (CSR), Binus Bus. Rev., 7, 315, 10.21512/bbr.v7i3.1792 Tarmuji, 2016, The impact of environmental, social and governance practices (ESG) on economic performance: Evidence from ESG score, Int. J. Trade, Econ. Financ., 7, 67, 10.18178/ijtef.2016.7.3.501 Torugsa, 2012, Capabilities, proactive CSR and financial performance in SMEs: empirical evidence from an Australian manufacturing industry sector, J. Bus. Ethics, 109, 483, 10.1007/s10551-011-1141-1 Trunfio, 2021, Multiple regression model to predict length of hospital stay for patients undergoing femur fracture surgery at "san giovanni di dio e Ruggi D'aragona" university hospital, 840 UNEP-FI. Fiduciary Duty in the 21st Century. 2019. Available online: 〈https://www.unepfi.org/publications/investmentpublications/〉. Wanta, D., & Herawati, V. Sustainable Finance Disclosure on Banking Sector in Indonesia: The Relationship Esg with Company Performance and Institutional Ownership, Journal of Research in Business and Management, 9 (12); 06–12. Xu, 2016, Profitability, state ownership, tax reporting and corporate social responsibility: evidence from Chinese listed firms, Soc. Responsib. J., 12, 23, 10.1108/SRJ-06-2014-0076 Yadav, 2020, Institutional ownership and corporate social performance in emerging economies multinationals: evidence from India, Indian J. Corp. Gov., 13, 227, 10.1177/0974686220966812 Yu, 2015, Sustainability and firm valuation: an international investigation, Int. J. Account. Inf. Manag., 23, 289, 10.1108/IJAIM-07-2014-0050 Zahra, 1996, Governance, ownership, and corporate entrepreneurship: the moderating impact of industry technological opportunities, Acad. Manag. J., 39, 1713, 10.2307/257076 Zaman, 2022, The effect of ESG disclosure on the financial performance of UAE banks, SSRN, 4043024