Addressing Sustainability Footprint Disclosure for High Pollutant Firms in China and the US: The Roles of Firms Governance Structure, Financing Decisions, and Eco‐Technology

Andrew Osei Agyemang; Kong Yusheng; Abednego Osei

doi:10.1002/csr.3092

journal article Jan 07, 2025

Addressing Sustainability Footprint Disclosure for High Pollutant Firms in China and the US: The Roles of Firms Governance Structure, Financing Decisions, and Eco‐Technology

Andrew Osei Agyemang

Kong Yusheng Abednego Osei

Corporate Social Responsibility and Environmental Management Vol. 32 No. 2 pp. 2835-2858 · Wiley

View at Publisher Save 10.1002/csr.3092

Abstract

ABSTRACTIn a race toward a sustainable future, corporate actions speak louder than words but what drives firms to reveal their true environmental impact? This study uncovers how governance structures and financing decisions shape sustainability footprint disclosure (SFD) among high‐pollutant manufacturing firms in China and the US while exploring the pivotal role of eco‐technology in magnifying these effects. Drawing on agency and resource‐based theories, we dissect governance into structural, diversity, and process attributes, analyzing data from 149 Chinese firms and 158 US firms from 2000 to 2022. We found robust evidence that, regarding the structural attributes board size and CEO duality positively influence SFD, whilst board independence negatively impacts on SFD. Moreover, the diversity attributes such as age diversity and gender diversity recorded a positive link with SFD whilst foreign nationals recorded a negative link with SFD. In addition, process attributes such as board meetings recorded a positive link with SFD whilst board tenure recorded a negative link with SFD. Financing decisions such as debt financing and equity finance are positively linked to SFD. Notably, eco‐technology strengthens the relationship between governance, financing, and SFD. These findings highlight the vital role of corporate boards in shaping sustainability outcomes, offering key insights for policymakers to foster innovation and implement stringent environmental regulations that enhance governance and transparency.

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Details

Published: Jan 07, 2025
Vol/Issue: 32(2)
Pages: 2835-2858
License: View

Authors

A

Andrew Osei Agyemang

School of Finance and Economics Jiangsu University Zhenjiang China; School of Business SDD – University of Business and Integrated Development Studies Wa Upper West Region Ghana

K

Kong Yusheng

School of Finance and Economics Jiangsu University Zhenjiang China; Business School Wuxi University Wuxi China

A

Abednego Osei

School of Finance and Economics Jiangsu University Zhenjiang China

Cite This Article

Andrew Osei Agyemang, Kong Yusheng, Abednego Osei (2025). Addressing Sustainability Footprint Disclosure for High Pollutant Firms in China and the US: The Roles of Firms Governance Structure, Financing Decisions, and Eco‐Technology. Corporate Social Responsibility and Environmental Management, 32(2), 2835-2858. https://doi.org/10.1002/csr.3092

Addressing Sustainability Footprint Disclosure for High Pollutant Firms in China and the US: The Roles of Firms Governance Structure, Financing Decisions, and Eco‐Technology

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