Advancing Sustainable Development Goal 15: The Role of Corporate Governance Structures and Environmental Regulations in Emerging Economies

Ummar Faruk Saeed; Wu Ning; Andrew Osei Agyemang

doi:10.1002/sd.3300

journal article Dec 05, 2024

Advancing Sustainable Development Goal 15: The Role of Corporate Governance Structures and Environmental Regulations in Emerging Economies

Ummar Faruk Saeed

Wu Ning Andrew Osei Agyemang

Sustainable Development Vol. 33 No. 3 pp. 3403-3426 · Wiley

View at Publisher Save 10.1002/sd.3300

Abstract

ABSTRACT
This study advances the literature on sustainable development, corporate governance, and environmental management by examining the interplay between governance structures (GS) and biodiversity disclosure (BD) in alignment with Sustainable Development Goal 15. Grounded in institutional, legitimacy, and stakeholder theories, we investigate how various GS influence firms' commitment to biodiversity reporting in sub‐Saharan Africa, while also considering the moderating role of environmental regulations. Utilizing panel data from 386 environmentally sensitive manufacturing firms between 2010 and 2022, we employ the two‐step system generalized method of moments (GMM) modeling, as proposed by Blundell and Bond and addressed potential endogeneity issues through instrumental variable two‐stage least squares (IV‐2SLS), propensity score matching, and lagged effect estimations. Our findings reveal that board diversity, particularly gender diversity and the presence of foreign nationals, positively impacts BD. Additionally, structural attributes such as board size and independence enhance BD, while CEO duality negatively affects this outcome. Furthermore, a positive relationship is observed between the frequency of board meetings and BD, yet a negative association exists with meeting attendance. Notably, environmental regulations not only increase BD, but significantly enhance the effect of GS on BD. These findings provide valuable insights for policymakers and stakeholders, contributing to the discourse on Sustainable Development Goal 15 by advocating for stronger governance frameworks to bolster biodiversity conservation and environmental stewardship in emerging economies.

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References

Details

Published: Dec 05, 2024
Vol/Issue: 33(3)
Pages: 3403-3426
License: View

Authors

U

Ummar Faruk Saeed

School of Finance and Economics Jiangsu University Zhenjiang China

W

Wu Ning

School of Finance and Economics Jiangsu University Zhenjiang China

A

Andrew Osei Agyemang

School of Finance and Economics Jiangsu University Zhenjiang China

Cite This Article

Ummar Faruk Saeed, Wu Ning, Andrew Osei Agyemang (2024). Advancing Sustainable Development Goal 15: The Role of Corporate Governance Structures and Environmental Regulations in Emerging Economies. Sustainable Development, 33(3), 3403-3426. https://doi.org/10.1002/sd.3300

Advancing Sustainable Development Goal 15: The Role of Corporate Governance Structures and Environmental Regulations in Emerging Economies

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