Araştırma Makalesi
BibTex RIS Kaynak Göster

THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR

Yıl 2022, Cilt: 6 Sayı: 1, 17 - 37, 20.03.2022

Nevzat Güngör Yasin Şeker

https://doi.org/10.30692/sisad.1073684
Cited By: 4

Öz

The aim of this study is to provide evidence for the impact of board structure on environmental, social and corporate governance (ESG) performances of firms in oil-gas-coal sector. The study used data from 385 companies in the Oil, Gas and Coal sector worldwide which have been listed in ASSET4 between 2010 and 2019. Refinitiv's Thomson Reuters ASSET4, EIKON, and Datastream databases have been used to obtain data on ESG performance and financial performance variables used in the study. As a result of the regression analyzes carried out, it has been determined that the structure of the board of directors has an effect on the ESG performance and its sub-dimensions.

Anahtar Kelimeler

ESG performance board structure oil-gas-coal sector

Kaynakça

  • Ahmed, K., Hossain, M., & Adams, M. B. (2006). The Effects of Board Composition and Board Size on the Informativeness of Annual Accounting Earnings. Corporate Governance: An International Review, 14(5), 418–431. https://doi.org/10.1111/j.1467-8683.2006.00515.x
  • Allouche, J., & Laroche, P. (2005). A Meta-analytical investigation of the relationship between corporate social and financial performance. Revue de Gestion Des Ressources Humaines, 57, 18.
  • Amran, A., Lee, S., & Devi, S. (2014). The Influence of Governance Structure and Strategic Corporate Social Responsibility Toward Sustainability Reporting Quality. Business Strategy and the Environment, 23. https://doi.org/10.1002/bse.1767
  • Andres, P. D., Azofra, V., & Lopez, F. (2005). Corporate Boards in OECD Countries: Size, composition, functioning and effectiveness. Corporate Governance: An International Review, 13(2), 197–210. https://doi.org/10.1111/j.1467-8683.2005.00418.x
  • Arayssi, M., Dah, M., & Jizi, M. (2016). Women on boards, sustainability reporting and firm performance. Sustainability Accounting, Management and Policy Journal, 7, 376–401. https://doi.org/10.1108/SAMPJ-07-2015-0055
  • Arena, C., Bozzolan, S., & Michelon, G. (2015). Environmental Reporting: Transparency to Stakeholders or Stakeholder Manipulation? An Analysis of Disclosure Tone and the Role of the Board of Directors. Corporate Social Responsibility and Environmental Management, 22(6), 346–361. https://doi.org/10.1002/csr.1350
  • Barnea, A., & Rubin, A. (2010). Corporate Social Responsibility as a Conflict Between Shareholders. Journal of Business Ethics, 97(1), 71–86. https://doi.org/10.1007/s10551-010-0496-z
  • Ben-Amar, W., Chang, M., & McIlkenny, P. (2017). Board Gender Diversity and Corporate Response to Sustainability Initiatives: Evidence from the Carbon Disclosure Project. Journal of Business Ethics, 142(2), 369–383. https://doi.org/10.1007/s10551-015-2759-1
  • Bennouri, M., Chtioui, T., Nagati, H., & Nekhili, M. (2018). Female board directorship and firm performance: What really matters? Journal of Banking & Finance, 88, 267–291. https://doi.org/10.1016/j.jbankfin.2017.12.010
  • Birindelli, G., Dell’Atti, S., Iannuzzi, A. P., & Savioli, M. (2018). Composition and Activity of the Board of Directors: Impact on ESG Performance in the Banking System. Sustainability, 10(12), 4699. https://doi.org/10.3390/su10124699
  • Borghesi, R., Houston, J. F., & Naranjo, A. (2014). Corporate socially responsible investments: CEO altruism, reputation, and shareholder interests. Journal of Corporate Finance, 26, 164–181. https://doi.org/10.1016/j.jcorpfin.2014.03.008
  • Brown, W. O., Helland, E., & Smith, J. K. (2006). Corporate philanthropic practices. Journal of Corporate Finance, 12(5), 855–877. https://doi.org/10.1016/j.jcorpfin.2006.02.001
  • Burke, J. J., Hoitash, R., & Hoitash, U. (2019). The Heterogeneity of Board-Level Sustainability Committees and Corporate Social Performance. Journal of Business Ethics, 154(4), 1161–1186. https://doi.org/10.1007/s10551-017-3453-2
  • Carter, D. A., Simkins, B. J., & Simpson, W. G. (2003). Corporate Governance, Board Diversity, and Firm Value. Financial Review, 38(1), 33–53. https://doi.org/10.1111/1540-6288.00034
  • Carver, J. (1990). Boards That Make a Difference: A New Design for Leadership in Nonprofit and Public Organizations. Jossey-Bass Nonprofit Sector Series and the Jossey-Bass Public Administration Series. Jossey-Bass, Inc.
  • Chen, J. C., & Roberts, R. W. (2010). Toward a More Coherent Understanding of the Organization–Society Relationship: A Theoretical Consideration for Social and Environmental Accounting Research. Journal of Business Ethics, 97(4), 651–665. https://doi.org/10.1007/s10551-010-0531-0
  • Cheng, E. C. M., & Courtenay, S. M. (2006). Board composition, regulatory regime and voluntary disclosure. The International Journal of Accounting, 41(3), 262–289. https://doi.org/10.1016/j.intacc.2006.07.001
  • Coffey, B. S., & Wang, J. (n.d.). Board Diversity and Managerial Control as Predictors of Corporate Social Performance. 9.
  • Cucari, N., Falco, S. E. D., & Orlando, B. (2018). Diversity of Board of Directors and Environmental Social Governance: Evidence from Italian Listed Companies. Corporate Social Responsibility and Environmental Management, 25(3), 250–266.
  • Dass, N., Kini, O., Nanda, V., Onal, B., & Wang, J. (2014). Board Expertise: Do Directors from Related Industries Help Bridge the Information Gap? The Review of Financial Studies, 27(5), 1533–1592. https://doi.org/10.1093/rfs/hht071
  • De Beaufort, V., & Summers, L. (2013). Women and Corporate Governance: Towards a New Model! In ESSEC Working Papers (No. WP1312; ESSEC Working Papers). ESSEC Research Center, ESSEC Business School. https://ideas.repec.org/p/ebg/essewp/dr-13012.html
  • Dey, A., LaGuardia, P., & Srinivasan, M. (2011). Building sustainability in logistics operations: A research agenda. Management Research Review, 34(11), 1237–1259. https://doi.org/10.1108/01409171111178774
  • Donaldson, T., & Preston, L. E. (1995). The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications. Academy of Management Review, 20(1), 65–91. https://doi.org/10.5465/amr.1995.9503271992
  • Dowling, J., & Pfeffer, J. (1975). Organizational Legitimacy: Social Values and Organizational Behavior. Pacific Sociological Review, 18(1), 122–136. https://doi.org/10.2307/1388226
  • Dunn, P., & Sainty, B. (2009). The relationship among board of director characteristics, corporate social performance and corporate financial performance. International Journal of Managerial Finance, 5(4), 407–423. https://doi.org/10.1108/17439130910987558
  • Eberhardt-Toth, E. (2017). Who should be on a board corporate social responsibility committee? Journal of Cleaner Production, 140, 1926–1935. https://doi.org/10.1016/j.jclepro.2016.08.127
  • Eccles, R. G., Ioannou, I., & Serafeim, G. (2014). The Impact of Corporate Sustainability on Organizational Processes and Performance. Management Science, 60(11), 2835–2857. https://doi.org/10.1287/mnsc.2014.1984
  • Erhardt, N. L., Werbel, J. D., & Shrader, C. B. (2003). Board of Director Diversity and Firm Financial Performance. Corporate Governance: An International Review, 11(2), 102–111. https://doi.org/10.1111/1467-8683.00011
  • Fama, E. F. (1980). Agency Problems and the Theory of the Firm. Journal of Political Economy, 88(2), 288–307. https://doi.org/10.1086/260866
  • Fama, E. F., & Jensen, M. C. (1983). Separation of Ownership and Control. The Journal of Law & Economics, 26(2), 301–325.
  • Fatemi, A., Glaum, M., & Kaiser, S. (2018). ESG performance and firm value: The moderating role of disclosure. Global Finance Journal, 38, 45–64. https://doi.org/10.1016/j.gfj.2017.03.001
  • Forker, J. J. (1992). Corporate Governance and Disclosure Quality. Accounting and Business Research, 22(86), 111–124. https://doi.org/10.1080/00014788.1992.9729426
  • Foster, D., & Jonker, J. (2005). Stakeholder relationships: The dialogue of engagement. Corporate Governance: The International Journal of Business in Society, 5(5), 51–57. https://doi.org/10.1108/14720700510630059
  • Freeman, R. E. (2010). Strategic Management: A Stakeholder Approach. Cambridge University Press.
  • Fuente, J. A., García-Sánchez, I. M., & Lozano, M. B. (2017). The role of the board of directors in the adoption of GRI guidelines for the disclosure of CSR information. Journal of Cleaner Production, 141, 737–750. https://doi.org/10.1016/j.jclepro.2016.09.155
  • Gallego-Álvarez, I., & Pucheta-Martínez, M. C. (2020). Environmental strategy in the global banking industry within the varieties of capitalism approach: The moderating role of gender diversity and board members with specific skills. Business Strategy and the Environment, 29(2), 347–360. https://doi.org/10.1002/bse.2368
  • Gallego-Álvarez, Prof. I., & Ortas, Prof. E. (2017). Corporate environmental sustainability reporting in the context of national cultures: A quantile regression approach. International Business Review, 26(2), 337–353. https://doi.org/10.1016/j.ibusrev.2016.09.003
  • García-Sánchez, I.-M., Martínez-Ferrero, J., & García-Meca, E. (2018). Board of Directors and CSR in Banking: The Moderating Role of Bank Regulation and Investor Protection Strength. Australian Accounting Review, 28(3), 428–445. https://doi.org/10.1111/auar.12199
  • Gennari, F. (2019). How to Lead the Board of Directors to a Sustainable Development of Business with the CSR Committees. Sustainability, 11(24), 6987. https://doi.org/10.3390/su11246987
  • Goodstein, J., & Boeker, W. (1991). Turbulence at the Top: A New Perspective on Governance Structure Changes and Strategic Change. Academy of Management Journal, 34(2), 306–330. https://doi.org/10.5465/256444
  • Govindan, K., Kilic, M., Uyar, A., & Karaman, A. S. (2021). Drivers and value-relevance of CSR performance in the logistics sector: A cross-country firm-level investigation. International Journal of Production Economics, 231, 107835. https://doi.org/10.1016/j.ijpe.2020.107835
  • Govindan, K., Shankar, M., & Kannan, D. (2018). Supplier selection based on corporate social responsibility practices. International Journal of Production Economics, 200, 353–379. https://doi.org/10.1016/j.ijpe.2016.09.003
  • Gray, R., Kouhy, R., & Lavers, S. (1995). Corporate social and environmental reporting: A review of the literature and a longitudinal study of UK disclosure. Accounting, Auditing & Accountability Journal, 8(2), 47–77. https://doi.org/10.1108/09513579510146996
  • Guest, P. M. (2009). The impact of board size on firm performance: Evidence from the UK. The European Journal of Finance, 15(4), 385–404. https://doi.org/10.1080/13518470802466121
  • Hafsi, T., & Turgut, G. (2013). Boardroom Diversity and its Effect on Social Performance: Conceptualization and Empirical Evidence. Journal of Business Ethics, 112(3), 463–479. https://doi.org/10.1007/s10551-012-1272-z
  • Haniffa, R., & Hudaib, M. (2006). Corporate Governance Structure and Performance of Malaysian Listed Companies. Journal of Business Finance & Accounting, 33(7–8), 1034–1062. https://doi.org/10.1111/j.1468-5957.2006.00594.x
  • Hart, S. L. (1995). A Natural-Resource-Based View of the Firm. Academy of Management Review, 20(4), 986–1014. https://doi.org/10.5465/amr.1995.9512280033
  • Hawkins, D. (2006). Corporate Social Responsibility: Balancing Tomorrow’s Sustainability and Today’s Profitability. Springer.
  • He, Z., Chen, P., Liu, H., & Guo, Z. (2017). Performance measurement system and strategies for developing low-carbon logistics: A case study in China. Journal of Cleaner Production, 156, 395–405. https://doi.org/10.1016/j.jclepro.2017.04.071
  • Hillman, A., Canella, A. A., & Harris, I. C. (2002). Women and racial minorities in the boardroom: How do directors differ? Journal of Management, 28(6), 747–763. https://doi.org/10.1016/S0149-2063(02)00192-7
  • Htay, S. N. N., Rashid, H. M. A., Adnan, M. A., & Meera, A. K. M. (2012). Impact of Corporate Governance on Social and Environmental Information Disclosure of Malaysian Listed Banks: Panel Data Analysis. Asian Journal of Finance & Accounting, 4(1), 1–24. https://doi.org/10.5296/ajfa.v4i1.810
  • Humphrey, J., Lee, D., & Shen, Y. (2010). The Independent Effects of Environmental, Social and Governance Initiatives on the Performance of UK Firms (SSRN Scholarly Paper ID 1663444). Social Science Research Network. https://doi.org/10.2139/ssrn.1663444
  • Huse, M., Nielsen, S. T., & Hagen, I. M. (2009). Women and Employee-Elected Board Members, and Their Contributions to Board Control Tasks. Journal of Business Ethics, 89(4), 581–597. https://doi.org/10.1007/s10551-008-0018-4
  • IBISWorld. (2021). "Global Oil & Gas Exploration & Production Market Size 2005–2025." Accessed July 9, 2021.
  • Ibrahim, A. H., & Hanefah, M. M. (2016). Board diversity and corporate social responsibility in Jordan. Journal of Financial Reporting and Accounting, 14(2), 279–298. https://doi.org/10.1108/JFRA-06-2015-0065
  • Ibrahim, N. A., Howard, D. P., & Angelidis, J. P. (2003). Board Members in the Service Industry: An Empirical Examination of the Relationship Between Corporate Social Responsibility Orientation and Directorial Type. Journal of Business Ethics, 47(4), 393–401. https://doi.org/10.1023/A:1027334524775
  • Jamali, D. (2008). A Stakeholder Approach to Corporate Social Responsibility: A Fresh Perspective into Theory and Practice. Journal of Business Ethics, 82(1), 213–231. https://doi.org/10.1007/s10551-007-9572-4
  • Jensen, M. C. (1993). The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems. The Journal of Finance, 48(3), 831–880. https://doi.org/10.1111/j.1540-6261.1993.tb04022.x
  • Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
  • Jizi, M. (2017). The Influence of Board Composition on Sustainable Development Disclosure. Business Strategy and the Environment, 26(5), 640–655. https://doi.org/10.1002/bse.1943
  • Jizi, M. I., Salama, A., Dixon, R., & Stratling, R. (2014). Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from the US Banking Sector. Journal of Business Ethics, 125(4), 601–615. https://doi.org/10.1007/s10551-013-1929-2
  • Johnson, S. G., Schnatterly, K., & Hill, A. D. (2013). Board Composition Beyond Independence: Social Capital, Human Capital, and Demographics. Journal of Management, 39(1), 232–262. https://doi.org/10.1177/0149206312463938
  • Jones, T. M. (1995). Instrumental stakeholder theory: A synthesis of ethics and economics. Academy of Management Review, 20(2), 404–437. https://doi.org/10.5465/amr.1995.9507312924
  • Kao, E. H., Yeh, C.-C., Wang, L.-H., & Fung, H.-G. (2018). The relationship between CSR and performance: Evidence in China. Pacific-Basin Finance Journal, 51, 155–170. https://doi.org/10.1016/j.pacfin.2018.04.006
  • Kesner, I. F. (1988). Directors’ Characteristics and Committee Membership: An Investigation of Type, Occupation, Tenure, and Gender. The Academy of Management Journal, 31(1), 66–84. https://doi.org/10.2307/256498
  • Krishnan, G., & Visvanathan, G. (2009). Do Auditors Price Audit Committee’s Expertise? The Case of Accounting versus Nonaccounting Financial Experts. Journal of Accounting, Auditing & Finance, 24(1), 115–144. https://doi.org/10.1177/0148558X0902400107
  • Laksmana, I. (2008). Corporate Board Governance and Voluntary Disclosure of Executive Compensation Practices*. Contemporary Accounting Research, 25(4), 1147–1182. https://doi.org/10.1506/car.25.4.8
  • Liao, L., Luo, L., & Tang, Q. (2015). Gender diversity, board independence, environmental committee and greenhouse gas disclosure. The British Accounting Review, 47(4), 409–424. https://doi.org/10.1016/j.bar.2014.01.002
  • Lo, S.-F., & Sheu, H.-J. (2007). Is Corporate Sustainability a Value-Increasing Strategy for Business? Corporate Governance: An International Review, 15(2), 345–358. https://doi.org/10.1111/j.1467-8683.2007.00565.x
  • Longo, M., Mura, M., & Bonoli, A. (2005). Corporate social responsibility and corporate performance: The case of Italian SMEs. Corporate Governance: The International Journal of Business in Society, 5(4), 28–42. https://doi.org/10.1108/14720700510616578
  • Luoma, P., & Goodstein, J. (1999). Research Notes. Stakeholders and Corporate Boards: Institutional Influences on Board Composition and Structure. Academy of Management Journal, 42(5), 553–563. https://doi.org/10.5465/256976
  • Mahmood, Z., Kouser, R., Ali, W., Ahmad, Z., & Salman, T. (2018). Does Corporate Governance Affect Sustainability Disclosure? A Mixed Methods Study. Sustainability, 10(1), 207. https://doi.org/10.3390/su10010207
  • Mallin, C. A., & Michelon, G. (2011). Board reputation attributes and corporate social performance: An empirical investigation of the US Best Corporate Citizens. Accounting and Business Research, 41(2), 119–144. https://doi.org/10.1080/00014788.2011.550740
  • Michelon, G., & Parbonetti, A. (2012). The effect of corporate governance on sustainability disclosure. Journal of Management & Governance, 16(3), 477–509. https://doi.org/10.1007/s10997-010-9160-3
  • Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts. Academy of Management Review, 22(4), 853–886. https://doi.org/10.5465/amr.1997.9711022105
  • Naciti, V. (2019). Corporate governance and board of directors: The effect of a board composition on firm sustainability performance. Journal of Cleaner Production, 237, 117727. https://doi.org/10.1016/j.jclepro.2019.117727
  • Nekhili, M., Boukadhaba, A., Nagati, H., & Chtioui, T. (2019). ESG performance and market value: The moderating role of employee board representation. The International Journal of Human Resource Management, 0(0), 1–27. https://doi.org/10.1080/09585192.2019.1629989
  • Nekhili, M., Gull, A. A., Chtioui, T., & Radhouane, I. (2020). Gender-diverse boards and audit fees: What difference does gender quota legislation make? Journal of Business Finance & Accounting, 47(1–2), 52–99. https://doi.org/10.1111/jbfa.12409
  • OECD. (2004). OECD principles of corporate governance: 2004 (rev. version). OECD.
  • Ortas, E., Álvarez, I., Jaussaud, J., & Garayar, A. (2015). The impact of institutional and social context on corporate environmental, social and governance performance of companies committed to voluntary corporate social responsibility initiatives. Journal of Cleaner Production, 108, 673–684. https://doi.org/10.1016/j.jclepro.2015.06.089
  • Parmar, B. L., Freeman, R. E., Harrison, J. S., Wicks, A. C., Purnell, L., & de Colle, S. (2010). Stakeholder Theory: The State of the Art. The Academy of Management Annals, 4(1), 403–445. https://doi.org/10.1080/19416520.2010.495581
  • Pathan, S. (2009). Strong boards, CEO power and bank risk-taking. Journal of Banking & Finance, 33(7), 1340–1350. https://doi.org/10.1016/j.jbankfin.2009.02.001
  • Peng, L. S., & Isa, M. (2020). Environmental, Social and Governance (ESG) Practices And Performance In Shariah Firms: Agency or Stakeholder Theory? Asian Academy of Management Journal of Accounting and Finance (AAMJAF), 16(1), 1–34.
  • Pfeffer, J., & Salancik, G. R. (1978). The External Control of Organizations: A Resource Dependence Perspective (SSRN Scholarly Paper ID 1496213). Social Science Research Network. https://papers.ssrn.com/abstract=1496213
  • Preston, L. E., & Donaldson, T. (1999). Dialogue. Academy of Management Review, 24(4), 619–620. https://doi.org/10.5465/amr.1999.12600806
  • Roberts, J., McNulty, T., & Stiles, P. (2005). Beyond Agency Conceptions of the Work of the Non-Executive Director: Creating Accountability in the Boardroom. British Journal of Management, 16(s1), S5–S26. https://doi.org/10.1111/j.1467-8551.2005.00444.x
  • Roy, A., & Goll, I. (2014). Predictors of various facets of sustainability of nations: The role of cultural and economic factors. International Business Review, 23(5), 849–861. https://doi.org/10.1016/j.ibusrev.2014.01.003
  • Salvioni, D. M., & Gennari, F. (2017). CSR, Sustainable Value Creation and Shareholder Relations. Symphonya. Emerging Issues in Management, 0(1), 36–49.
  • Schuler, D. A., & Cording, M. (2006). A Corporate Social Performance–Corporate Financial Performance Behavioral Model for Consumers. Academy of Management Review, 31(3), 540–558. https://doi.org/10.5465/amr.2006.21318916
  • Shahbaz, M., Karaman, A. S., Kilic, M., & Uyar, A. (2020). Board attributes, CSR engagement, and corporate performance: What is the nexus in the energy sector? Energy Policy, 143, 111582. https://doi.org/10.1016/j.enpol.2020.111582
  • Shaukat, A., Qiu, Y., & Trojanowski, G. (2016). Board Attributes, Corporate Social Responsibility Strategy, and Corporate Environmental and Social Performance. Journal of Business Ethics, 135(3), 569–585. https://doi.org/10.1007/s10551-014-2460-9
  • Siciliano, J. I. (1996). The relationship of board member diversity to organizational performance. Journal of Business Ethics, 15(12), 1313–1320. https://doi.org/10.1007/BF00411816
  • Stuebs, M., & Sun, L. (2015). Corporate governance and social responsibility. International Journal of Law and Management, 57(1), 38–52. https://doi.org/10.1108/IJLMA-04-2014-0034
  • Terjesen, S., Sealy, R., & Singh, V. (2009). Women Directors on Corporate Boards: A Review and Research Agenda. Corporate Governance: An International Review, 17(3), 320–337. https://doi.org/10.1111/j.1467-8683.2009.00742.x
  • Uyar, A., Kilic, M., Koseoglu, M. A., Kuzey, C., & Karaman, A. S. (2020). The link among board characteristics, corporate social responsibility performance, and financial performance: Evidence from the hospitality and tourism industry. Tourism Management Perspectives, 35, 100714. https://doi.org/10.1016/j.tmp.2020.100714
  • Uyar, A., Kuzey, C., Kiliç, M., & Karaman, A. S. (2021). Board structure, financial performance, corporate social responsibility performance, CSR committee, and CEO duality: Disentangling the connection in healthcare. https://doi.org/10.1002/CSR.2141
  • van der Laan Smith, J., Adhikari, A., & Tondkar, R. (2005). Exploring differences in social disclosures internationally: A stakeholder perspective. Journal of Accounting and Public Policy, 24, 123–151. https://doi.org/10.1016/j.jaccpubpol.2004.12.007
  • Vasconcelos, I. F. F. G. de, Alves, M. A., & Pesqueux, Y. (2012). Responsabilidade social corporativa e desenvolvimento sustentável: Olhares habermasianos. Revista de Administração de Empresas, 52, 148–152. https://doi.org/10.1590/S0034-75902012000200002
  • Velte, P. (2016a). Women on management board and ESG performance. Journal of Global Responsibility, 7(1), 98–109. https://doi.org/10.1108/JGR-01-2016-0001
  • Velte, P. (2016b). Sustainable management compensation and ESG performance – the German case. Problems and Perspectives in Management, 14(4), 17–24. https://doi.org/10.21511/ppm.14(4).2016.02
  • Xie, B., Davidson, W., & DaDalt, P. J. (2003). Earnings management and corporate governance: The role of the board and the audit committee. Journal of Corporate Finance, 9(3), 295–316.
  • Yeh, C. M. (2019). Ownership structure and firm performance of listed tourism firms. International Journal of Tourism Research, 21(2), 165–179. https://doi.org/10.1002/jtr.2250
  • Zahra, S., & Pearce, J. (1989). Boards of Directors and Corporate Financial Performance: A Review and Integrative Model. Journal of Management - J MANAGE, 15, 291–334. https://doi.org/10.1177/014920638901500208

Yönetim Kurulu Yapısı ve ESG Performansı: Petrol Gaz ve Kömür Sektöründe Ampirik Bir Araştırma

Yıl 2022, Cilt: 6 Sayı: 1, 17 - 37, 20.03.2022

Nevzat Güngör Yasin Şeker

https://doi.org/10.30692/sisad.1073684
Cited By: 4

Öz

Bu çalışmanın amacı petrol-gaz-kömür sektöründe faaliyet gösteren şirketlerin yönetim kurulu yapısının çevresel, sosyal ve kurumsal yönetim (Environmental, Social, Governance-ESG) performanslarına etkisine yönelik kanıtlar sunmaktır. Bu amaçla çalışmada, Petrol Gaz ve Kömür sektöründe dünya genelinde ASSET4’te yer alan 385 şirketin 2010-2019 yıllarını kapsayan verileri kullanılmıştır. Çalışma kapsamında kullanılan ESG performansı ve finansal performans değişkenlerine ait veriler Refinitiv’in Thomson Reuters ASSET4, EIKON ve Datastream veri tabanından elde edilmiştir. Gerçekleştirilen regresyon analizleri sonucunda şirketlerin yönetim kurulu yapısının ESG performansı ve alt boyutları üzerinde etkili olduğu tespit edilmiştir.

Anahtar Kelimeler

ESG performansı yönetim kurulu yapısı petrol-gaz-kömür sektörü

Kaynakça

  • Ahmed, K., Hossain, M., & Adams, M. B. (2006). The Effects of Board Composition and Board Size on the Informativeness of Annual Accounting Earnings. Corporate Governance: An International Review, 14(5), 418–431. https://doi.org/10.1111/j.1467-8683.2006.00515.x
  • Allouche, J., & Laroche, P. (2005). A Meta-analytical investigation of the relationship between corporate social and financial performance. Revue de Gestion Des Ressources Humaines, 57, 18.
  • Amran, A., Lee, S., & Devi, S. (2014). The Influence of Governance Structure and Strategic Corporate Social Responsibility Toward Sustainability Reporting Quality. Business Strategy and the Environment, 23. https://doi.org/10.1002/bse.1767
  • Andres, P. D., Azofra, V., & Lopez, F. (2005). Corporate Boards in OECD Countries: Size, composition, functioning and effectiveness. Corporate Governance: An International Review, 13(2), 197–210. https://doi.org/10.1111/j.1467-8683.2005.00418.x
  • Arayssi, M., Dah, M., & Jizi, M. (2016). Women on boards, sustainability reporting and firm performance. Sustainability Accounting, Management and Policy Journal, 7, 376–401. https://doi.org/10.1108/SAMPJ-07-2015-0055
  • Arena, C., Bozzolan, S., & Michelon, G. (2015). Environmental Reporting: Transparency to Stakeholders or Stakeholder Manipulation? An Analysis of Disclosure Tone and the Role of the Board of Directors. Corporate Social Responsibility and Environmental Management, 22(6), 346–361. https://doi.org/10.1002/csr.1350
  • Barnea, A., & Rubin, A. (2010). Corporate Social Responsibility as a Conflict Between Shareholders. Journal of Business Ethics, 97(1), 71–86. https://doi.org/10.1007/s10551-010-0496-z
  • Ben-Amar, W., Chang, M., & McIlkenny, P. (2017). Board Gender Diversity and Corporate Response to Sustainability Initiatives: Evidence from the Carbon Disclosure Project. Journal of Business Ethics, 142(2), 369–383. https://doi.org/10.1007/s10551-015-2759-1
  • Bennouri, M., Chtioui, T., Nagati, H., & Nekhili, M. (2018). Female board directorship and firm performance: What really matters? Journal of Banking & Finance, 88, 267–291. https://doi.org/10.1016/j.jbankfin.2017.12.010
  • Birindelli, G., Dell’Atti, S., Iannuzzi, A. P., & Savioli, M. (2018). Composition and Activity of the Board of Directors: Impact on ESG Performance in the Banking System. Sustainability, 10(12), 4699. https://doi.org/10.3390/su10124699
  • Borghesi, R., Houston, J. F., & Naranjo, A. (2014). Corporate socially responsible investments: CEO altruism, reputation, and shareholder interests. Journal of Corporate Finance, 26, 164–181. https://doi.org/10.1016/j.jcorpfin.2014.03.008
  • Brown, W. O., Helland, E., & Smith, J. K. (2006). Corporate philanthropic practices. Journal of Corporate Finance, 12(5), 855–877. https://doi.org/10.1016/j.jcorpfin.2006.02.001
  • Burke, J. J., Hoitash, R., & Hoitash, U. (2019). The Heterogeneity of Board-Level Sustainability Committees and Corporate Social Performance. Journal of Business Ethics, 154(4), 1161–1186. https://doi.org/10.1007/s10551-017-3453-2
  • Carter, D. A., Simkins, B. J., & Simpson, W. G. (2003). Corporate Governance, Board Diversity, and Firm Value. Financial Review, 38(1), 33–53. https://doi.org/10.1111/1540-6288.00034
  • Carver, J. (1990). Boards That Make a Difference: A New Design for Leadership in Nonprofit and Public Organizations. Jossey-Bass Nonprofit Sector Series and the Jossey-Bass Public Administration Series. Jossey-Bass, Inc.
  • Chen, J. C., & Roberts, R. W. (2010). Toward a More Coherent Understanding of the Organization–Society Relationship: A Theoretical Consideration for Social and Environmental Accounting Research. Journal of Business Ethics, 97(4), 651–665. https://doi.org/10.1007/s10551-010-0531-0
  • Cheng, E. C. M., & Courtenay, S. M. (2006). Board composition, regulatory regime and voluntary disclosure. The International Journal of Accounting, 41(3), 262–289. https://doi.org/10.1016/j.intacc.2006.07.001
  • Coffey, B. S., & Wang, J. (n.d.). Board Diversity and Managerial Control as Predictors of Corporate Social Performance. 9.
  • Cucari, N., Falco, S. E. D., & Orlando, B. (2018). Diversity of Board of Directors and Environmental Social Governance: Evidence from Italian Listed Companies. Corporate Social Responsibility and Environmental Management, 25(3), 250–266.
  • Dass, N., Kini, O., Nanda, V., Onal, B., & Wang, J. (2014). Board Expertise: Do Directors from Related Industries Help Bridge the Information Gap? The Review of Financial Studies, 27(5), 1533–1592. https://doi.org/10.1093/rfs/hht071
  • De Beaufort, V., & Summers, L. (2013). Women and Corporate Governance: Towards a New Model! In ESSEC Working Papers (No. WP1312; ESSEC Working Papers). ESSEC Research Center, ESSEC Business School. https://ideas.repec.org/p/ebg/essewp/dr-13012.html
  • Dey, A., LaGuardia, P., & Srinivasan, M. (2011). Building sustainability in logistics operations: A research agenda. Management Research Review, 34(11), 1237–1259. https://doi.org/10.1108/01409171111178774
  • Donaldson, T., & Preston, L. E. (1995). The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications. Academy of Management Review, 20(1), 65–91. https://doi.org/10.5465/amr.1995.9503271992
  • Dowling, J., & Pfeffer, J. (1975). Organizational Legitimacy: Social Values and Organizational Behavior. Pacific Sociological Review, 18(1), 122–136. https://doi.org/10.2307/1388226
  • Dunn, P., & Sainty, B. (2009). The relationship among board of director characteristics, corporate social performance and corporate financial performance. International Journal of Managerial Finance, 5(4), 407–423. https://doi.org/10.1108/17439130910987558
  • Eberhardt-Toth, E. (2017). Who should be on a board corporate social responsibility committee? Journal of Cleaner Production, 140, 1926–1935. https://doi.org/10.1016/j.jclepro.2016.08.127
  • Eccles, R. G., Ioannou, I., & Serafeim, G. (2014). The Impact of Corporate Sustainability on Organizational Processes and Performance. Management Science, 60(11), 2835–2857. https://doi.org/10.1287/mnsc.2014.1984
  • Erhardt, N. L., Werbel, J. D., & Shrader, C. B. (2003). Board of Director Diversity and Firm Financial Performance. Corporate Governance: An International Review, 11(2), 102–111. https://doi.org/10.1111/1467-8683.00011
  • Fama, E. F. (1980). Agency Problems and the Theory of the Firm. Journal of Political Economy, 88(2), 288–307. https://doi.org/10.1086/260866
  • Fama, E. F., & Jensen, M. C. (1983). Separation of Ownership and Control. The Journal of Law & Economics, 26(2), 301–325.
  • Fatemi, A., Glaum, M., & Kaiser, S. (2018). ESG performance and firm value: The moderating role of disclosure. Global Finance Journal, 38, 45–64. https://doi.org/10.1016/j.gfj.2017.03.001
  • Forker, J. J. (1992). Corporate Governance and Disclosure Quality. Accounting and Business Research, 22(86), 111–124. https://doi.org/10.1080/00014788.1992.9729426
  • Foster, D., & Jonker, J. (2005). Stakeholder relationships: The dialogue of engagement. Corporate Governance: The International Journal of Business in Society, 5(5), 51–57. https://doi.org/10.1108/14720700510630059
  • Freeman, R. E. (2010). Strategic Management: A Stakeholder Approach. Cambridge University Press.
  • Fuente, J. A., García-Sánchez, I. M., & Lozano, M. B. (2017). The role of the board of directors in the adoption of GRI guidelines for the disclosure of CSR information. Journal of Cleaner Production, 141, 737–750. https://doi.org/10.1016/j.jclepro.2016.09.155
  • Gallego-Álvarez, I., & Pucheta-Martínez, M. C. (2020). Environmental strategy in the global banking industry within the varieties of capitalism approach: The moderating role of gender diversity and board members with specific skills. Business Strategy and the Environment, 29(2), 347–360. https://doi.org/10.1002/bse.2368
  • Gallego-Álvarez, Prof. I., & Ortas, Prof. E. (2017). Corporate environmental sustainability reporting in the context of national cultures: A quantile regression approach. International Business Review, 26(2), 337–353. https://doi.org/10.1016/j.ibusrev.2016.09.003
  • García-Sánchez, I.-M., Martínez-Ferrero, J., & García-Meca, E. (2018). Board of Directors and CSR in Banking: The Moderating Role of Bank Regulation and Investor Protection Strength. Australian Accounting Review, 28(3), 428–445. https://doi.org/10.1111/auar.12199
  • Gennari, F. (2019). How to Lead the Board of Directors to a Sustainable Development of Business with the CSR Committees. Sustainability, 11(24), 6987. https://doi.org/10.3390/su11246987
  • Goodstein, J., & Boeker, W. (1991). Turbulence at the Top: A New Perspective on Governance Structure Changes and Strategic Change. Academy of Management Journal, 34(2), 306–330. https://doi.org/10.5465/256444
  • Govindan, K., Kilic, M., Uyar, A., & Karaman, A. S. (2021). Drivers and value-relevance of CSR performance in the logistics sector: A cross-country firm-level investigation. International Journal of Production Economics, 231, 107835. https://doi.org/10.1016/j.ijpe.2020.107835
  • Govindan, K., Shankar, M., & Kannan, D. (2018). Supplier selection based on corporate social responsibility practices. International Journal of Production Economics, 200, 353–379. https://doi.org/10.1016/j.ijpe.2016.09.003
  • Gray, R., Kouhy, R., & Lavers, S. (1995). Corporate social and environmental reporting: A review of the literature and a longitudinal study of UK disclosure. Accounting, Auditing & Accountability Journal, 8(2), 47–77. https://doi.org/10.1108/09513579510146996
  • Guest, P. M. (2009). The impact of board size on firm performance: Evidence from the UK. The European Journal of Finance, 15(4), 385–404. https://doi.org/10.1080/13518470802466121
  • Hafsi, T., & Turgut, G. (2013). Boardroom Diversity and its Effect on Social Performance: Conceptualization and Empirical Evidence. Journal of Business Ethics, 112(3), 463–479. https://doi.org/10.1007/s10551-012-1272-z
  • Haniffa, R., & Hudaib, M. (2006). Corporate Governance Structure and Performance of Malaysian Listed Companies. Journal of Business Finance & Accounting, 33(7–8), 1034–1062. https://doi.org/10.1111/j.1468-5957.2006.00594.x
  • Hart, S. L. (1995). A Natural-Resource-Based View of the Firm. Academy of Management Review, 20(4), 986–1014. https://doi.org/10.5465/amr.1995.9512280033
  • Hawkins, D. (2006). Corporate Social Responsibility: Balancing Tomorrow’s Sustainability and Today’s Profitability. Springer.
  • He, Z., Chen, P., Liu, H., & Guo, Z. (2017). Performance measurement system and strategies for developing low-carbon logistics: A case study in China. Journal of Cleaner Production, 156, 395–405. https://doi.org/10.1016/j.jclepro.2017.04.071
  • Hillman, A., Canella, A. A., & Harris, I. C. (2002). Women and racial minorities in the boardroom: How do directors differ? Journal of Management, 28(6), 747–763. https://doi.org/10.1016/S0149-2063(02)00192-7
  • Htay, S. N. N., Rashid, H. M. A., Adnan, M. A., & Meera, A. K. M. (2012). Impact of Corporate Governance on Social and Environmental Information Disclosure of Malaysian Listed Banks: Panel Data Analysis. Asian Journal of Finance & Accounting, 4(1), 1–24. https://doi.org/10.5296/ajfa.v4i1.810
  • Humphrey, J., Lee, D., & Shen, Y. (2010). The Independent Effects of Environmental, Social and Governance Initiatives on the Performance of UK Firms (SSRN Scholarly Paper ID 1663444). Social Science Research Network. https://doi.org/10.2139/ssrn.1663444
  • Huse, M., Nielsen, S. T., & Hagen, I. M. (2009). Women and Employee-Elected Board Members, and Their Contributions to Board Control Tasks. Journal of Business Ethics, 89(4), 581–597. https://doi.org/10.1007/s10551-008-0018-4
  • IBISWorld. (2021). "Global Oil & Gas Exploration & Production Market Size 2005–2025." Accessed July 9, 2021.
  • Ibrahim, A. H., & Hanefah, M. M. (2016). Board diversity and corporate social responsibility in Jordan. Journal of Financial Reporting and Accounting, 14(2), 279–298. https://doi.org/10.1108/JFRA-06-2015-0065
  • Ibrahim, N. A., Howard, D. P., & Angelidis, J. P. (2003). Board Members in the Service Industry: An Empirical Examination of the Relationship Between Corporate Social Responsibility Orientation and Directorial Type. Journal of Business Ethics, 47(4), 393–401. https://doi.org/10.1023/A:1027334524775
  • Jamali, D. (2008). A Stakeholder Approach to Corporate Social Responsibility: A Fresh Perspective into Theory and Practice. Journal of Business Ethics, 82(1), 213–231. https://doi.org/10.1007/s10551-007-9572-4
  • Jensen, M. C. (1993). The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems. The Journal of Finance, 48(3), 831–880. https://doi.org/10.1111/j.1540-6261.1993.tb04022.x
  • Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
  • Jizi, M. (2017). The Influence of Board Composition on Sustainable Development Disclosure. Business Strategy and the Environment, 26(5), 640–655. https://doi.org/10.1002/bse.1943
  • Jizi, M. I., Salama, A., Dixon, R., & Stratling, R. (2014). Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from the US Banking Sector. Journal of Business Ethics, 125(4), 601–615. https://doi.org/10.1007/s10551-013-1929-2
  • Johnson, S. G., Schnatterly, K., & Hill, A. D. (2013). Board Composition Beyond Independence: Social Capital, Human Capital, and Demographics. Journal of Management, 39(1), 232–262. https://doi.org/10.1177/0149206312463938
  • Jones, T. M. (1995). Instrumental stakeholder theory: A synthesis of ethics and economics. Academy of Management Review, 20(2), 404–437. https://doi.org/10.5465/amr.1995.9507312924
  • Kao, E. H., Yeh, C.-C., Wang, L.-H., & Fung, H.-G. (2018). The relationship between CSR and performance: Evidence in China. Pacific-Basin Finance Journal, 51, 155–170. https://doi.org/10.1016/j.pacfin.2018.04.006
  • Kesner, I. F. (1988). Directors’ Characteristics and Committee Membership: An Investigation of Type, Occupation, Tenure, and Gender. The Academy of Management Journal, 31(1), 66–84. https://doi.org/10.2307/256498
  • Krishnan, G., & Visvanathan, G. (2009). Do Auditors Price Audit Committee’s Expertise? The Case of Accounting versus Nonaccounting Financial Experts. Journal of Accounting, Auditing & Finance, 24(1), 115–144. https://doi.org/10.1177/0148558X0902400107
  • Laksmana, I. (2008). Corporate Board Governance and Voluntary Disclosure of Executive Compensation Practices*. Contemporary Accounting Research, 25(4), 1147–1182. https://doi.org/10.1506/car.25.4.8
  • Liao, L., Luo, L., & Tang, Q. (2015). Gender diversity, board independence, environmental committee and greenhouse gas disclosure. The British Accounting Review, 47(4), 409–424. https://doi.org/10.1016/j.bar.2014.01.002
  • Lo, S.-F., & Sheu, H.-J. (2007). Is Corporate Sustainability a Value-Increasing Strategy for Business? Corporate Governance: An International Review, 15(2), 345–358. https://doi.org/10.1111/j.1467-8683.2007.00565.x
  • Longo, M., Mura, M., & Bonoli, A. (2005). Corporate social responsibility and corporate performance: The case of Italian SMEs. Corporate Governance: The International Journal of Business in Society, 5(4), 28–42. https://doi.org/10.1108/14720700510616578
  • Luoma, P., & Goodstein, J. (1999). Research Notes. Stakeholders and Corporate Boards: Institutional Influences on Board Composition and Structure. Academy of Management Journal, 42(5), 553–563. https://doi.org/10.5465/256976
  • Mahmood, Z., Kouser, R., Ali, W., Ahmad, Z., & Salman, T. (2018). Does Corporate Governance Affect Sustainability Disclosure? A Mixed Methods Study. Sustainability, 10(1), 207. https://doi.org/10.3390/su10010207
  • Mallin, C. A., & Michelon, G. (2011). Board reputation attributes and corporate social performance: An empirical investigation of the US Best Corporate Citizens. Accounting and Business Research, 41(2), 119–144. https://doi.org/10.1080/00014788.2011.550740
  • Michelon, G., & Parbonetti, A. (2012). The effect of corporate governance on sustainability disclosure. Journal of Management & Governance, 16(3), 477–509. https://doi.org/10.1007/s10997-010-9160-3
  • Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of who and What Really Counts. Academy of Management Review, 22(4), 853–886. https://doi.org/10.5465/amr.1997.9711022105
  • Naciti, V. (2019). Corporate governance and board of directors: The effect of a board composition on firm sustainability performance. Journal of Cleaner Production, 237, 117727. https://doi.org/10.1016/j.jclepro.2019.117727
  • Nekhili, M., Boukadhaba, A., Nagati, H., & Chtioui, T. (2019). ESG performance and market value: The moderating role of employee board representation. The International Journal of Human Resource Management, 0(0), 1–27. https://doi.org/10.1080/09585192.2019.1629989
  • Nekhili, M., Gull, A. A., Chtioui, T., & Radhouane, I. (2020). Gender-diverse boards and audit fees: What difference does gender quota legislation make? Journal of Business Finance & Accounting, 47(1–2), 52–99. https://doi.org/10.1111/jbfa.12409
  • OECD. (2004). OECD principles of corporate governance: 2004 (rev. version). OECD.
  • Ortas, E., Álvarez, I., Jaussaud, J., & Garayar, A. (2015). The impact of institutional and social context on corporate environmental, social and governance performance of companies committed to voluntary corporate social responsibility initiatives. Journal of Cleaner Production, 108, 673–684. https://doi.org/10.1016/j.jclepro.2015.06.089
  • Parmar, B. L., Freeman, R. E., Harrison, J. S., Wicks, A. C., Purnell, L., & de Colle, S. (2010). Stakeholder Theory: The State of the Art. The Academy of Management Annals, 4(1), 403–445. https://doi.org/10.1080/19416520.2010.495581
  • Pathan, S. (2009). Strong boards, CEO power and bank risk-taking. Journal of Banking & Finance, 33(7), 1340–1350. https://doi.org/10.1016/j.jbankfin.2009.02.001
  • Peng, L. S., & Isa, M. (2020). Environmental, Social and Governance (ESG) Practices And Performance In Shariah Firms: Agency or Stakeholder Theory? Asian Academy of Management Journal of Accounting and Finance (AAMJAF), 16(1), 1–34.
  • Pfeffer, J., & Salancik, G. R. (1978). The External Control of Organizations: A Resource Dependence Perspective (SSRN Scholarly Paper ID 1496213). Social Science Research Network. https://papers.ssrn.com/abstract=1496213
  • Preston, L. E., & Donaldson, T. (1999). Dialogue. Academy of Management Review, 24(4), 619–620. https://doi.org/10.5465/amr.1999.12600806
  • Roberts, J., McNulty, T., & Stiles, P. (2005). Beyond Agency Conceptions of the Work of the Non-Executive Director: Creating Accountability in the Boardroom. British Journal of Management, 16(s1), S5–S26. https://doi.org/10.1111/j.1467-8551.2005.00444.x
  • Roy, A., & Goll, I. (2014). Predictors of various facets of sustainability of nations: The role of cultural and economic factors. International Business Review, 23(5), 849–861. https://doi.org/10.1016/j.ibusrev.2014.01.003
  • Salvioni, D. M., & Gennari, F. (2017). CSR, Sustainable Value Creation and Shareholder Relations. Symphonya. Emerging Issues in Management, 0(1), 36–49.
  • Schuler, D. A., & Cording, M. (2006). A Corporate Social Performance–Corporate Financial Performance Behavioral Model for Consumers. Academy of Management Review, 31(3), 540–558. https://doi.org/10.5465/amr.2006.21318916
  • Shahbaz, M., Karaman, A. S., Kilic, M., & Uyar, A. (2020). Board attributes, CSR engagement, and corporate performance: What is the nexus in the energy sector? Energy Policy, 143, 111582. https://doi.org/10.1016/j.enpol.2020.111582
  • Shaukat, A., Qiu, Y., & Trojanowski, G. (2016). Board Attributes, Corporate Social Responsibility Strategy, and Corporate Environmental and Social Performance. Journal of Business Ethics, 135(3), 569–585. https://doi.org/10.1007/s10551-014-2460-9
  • Siciliano, J. I. (1996). The relationship of board member diversity to organizational performance. Journal of Business Ethics, 15(12), 1313–1320. https://doi.org/10.1007/BF00411816
  • Stuebs, M., & Sun, L. (2015). Corporate governance and social responsibility. International Journal of Law and Management, 57(1), 38–52. https://doi.org/10.1108/IJLMA-04-2014-0034
  • Terjesen, S., Sealy, R., & Singh, V. (2009). Women Directors on Corporate Boards: A Review and Research Agenda. Corporate Governance: An International Review, 17(3), 320–337. https://doi.org/10.1111/j.1467-8683.2009.00742.x
  • Uyar, A., Kilic, M., Koseoglu, M. A., Kuzey, C., & Karaman, A. S. (2020). The link among board characteristics, corporate social responsibility performance, and financial performance: Evidence from the hospitality and tourism industry. Tourism Management Perspectives, 35, 100714. https://doi.org/10.1016/j.tmp.2020.100714
  • Uyar, A., Kuzey, C., Kiliç, M., & Karaman, A. S. (2021). Board structure, financial performance, corporate social responsibility performance, CSR committee, and CEO duality: Disentangling the connection in healthcare. https://doi.org/10.1002/CSR.2141
  • van der Laan Smith, J., Adhikari, A., & Tondkar, R. (2005). Exploring differences in social disclosures internationally: A stakeholder perspective. Journal of Accounting and Public Policy, 24, 123–151. https://doi.org/10.1016/j.jaccpubpol.2004.12.007
  • Vasconcelos, I. F. F. G. de, Alves, M. A., & Pesqueux, Y. (2012). Responsabilidade social corporativa e desenvolvimento sustentável: Olhares habermasianos. Revista de Administração de Empresas, 52, 148–152. https://doi.org/10.1590/S0034-75902012000200002
  • Velte, P. (2016a). Women on management board and ESG performance. Journal of Global Responsibility, 7(1), 98–109. https://doi.org/10.1108/JGR-01-2016-0001
  • Velte, P. (2016b). Sustainable management compensation and ESG performance – the German case. Problems and Perspectives in Management, 14(4), 17–24. https://doi.org/10.21511/ppm.14(4).2016.02
  • Xie, B., Davidson, W., & DaDalt, P. J. (2003). Earnings management and corporate governance: The role of the board and the audit committee. Journal of Corporate Finance, 9(3), 295–316.
  • Yeh, C. M. (2019). Ownership structure and firm performance of listed tourism firms. International Journal of Tourism Research, 21(2), 165–179. https://doi.org/10.1002/jtr.2250
  • Zahra, S., & Pearce, J. (1989). Boards of Directors and Corporate Financial Performance: A Review and Integrative Model. Journal of Management - J MANAGE, 15, 291–334. https://doi.org/10.1177/014920638901500208
Toplam 103 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm SOSYAL VE BEŞERİ BİLİMLER
Yazarlar

Nevzat Güngör 0000-0001-9883-1985

Yasin Şeker 0000-0003-0513-7682

Erken Görünüm Tarihi 20 Mart 2022
Yayımlanma Tarihi 20 Mart 2022
Gönderilme Tarihi 15 Şubat 2022
Yayımlandığı Sayı Yıl 2022 Cilt: 6 Sayı: 1

Kaynak Göster

APA Güngör, N., & Şeker, Y. (2022). THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR. Stratejik Ve Sosyal Araştırmalar Dergisi, 6(1), 17-37. https://doi.org/10.30692/sisad.1073684
AMA Güngör N, Şeker Y. THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR. ssad. Mart 2022;6(1):17-37. doi:10.30692/sisad.1073684
Chicago Güngör, Nevzat, ve Yasin Şeker. “THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR”. Stratejik Ve Sosyal Araştırmalar Dergisi 6, sy. 1 (Mart 2022): 17-37. https://doi.org/10.30692/sisad.1073684.
EndNote Güngör N, Şeker Y (01 Mart 2022) THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR. Stratejik ve Sosyal Araştırmalar Dergisi 6 1 17–37.
IEEE N. Güngör ve Y. Şeker, “THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR”, ssad, c. 6, sy. 1, ss. 17–37, 2022, doi: 10.30692/sisad.1073684.
ISNAD Güngör, Nevzat - Şeker, Yasin. “THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR”. Stratejik ve Sosyal Araştırmalar Dergisi 6/1 (Mart 2022), 17-37. https://doi.org/10.30692/sisad.1073684.
JAMA Güngör N, Şeker Y. THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR. ssad. 2022;6:17–37.
MLA Güngör, Nevzat ve Yasin Şeker. “THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR”. Stratejik Ve Sosyal Araştırmalar Dergisi, c. 6, sy. 1, 2022, ss. 17-37, doi:10.30692/sisad.1073684.
Vancouver Güngör N, Şeker Y. THE RELATIONSHIP BETWEEN BOARD CHARACTERISTICS AND ESG PERFORMANCE: EVIDENCE FROM THE OIL, GAS AND COAL SECTOR. ssad. 2022;6(1):17-3.

Cited By

Fossil Fuel-Based versus Electric Vehicles: A Volatility Spillover Perspective Regarding the Environment
Journal of Risk and Financial Management
https://doi.org/10.3390/jrfm16120494
ESG Performansı ile Borç Maliyeti Arasındaki İlişki Üzerine Bir Araştırma
Muhasebe ve Vergi Uygulamaları Dergisi
https://doi.org/10.29067/muvu.1196945
Sürdürülebilirlik Raporlaması ve Bağımsız Güvence Kararlarının Belirleyicileri
Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi
https://doi.org/10.17153/oguiibf.1147346
ENVIRONMENTAL SOCIAL AND CORPORATE GOVERNANCE (ESG) PERFORMANCE: AN INTERNATIONAL STUDY
Muhasebe ve Vergi Uygulamaları Dergisi
https://doi.org/10.29067/muvu.1066216
 Kapak Resmi İndir

22785  15895    15433     15434     15435     17587    18452        18278      18279         18453        19048