BOARD ATTRIBUTES AND ENVIRONMENTAL SUSTAINABILITY REPORTING: THE INFLUENCE OF OWNERSHIP STRUCTURE

Abstract

This study aims to investigate the influence of ownership structure on the extent to which the board attributes in Sub-Saharan Africa (SSA) promote environmental Sustainability Reporting. Using the dynamic panel-data estimation method, the paper uses 1,970 firm-year observations manually extracted from publicly listed non-financial firms' financial reports in SSA from 2012 to 2021. The paper finds that the block ownership structure does not significantly moderate board attributes and environmental sustainability reporting in publicly listed SSA forms.  Also, Government-owned firms moderate board independence and environmental sustainability reporting. The paper further finds that foreign ownership structure influences the relationship between board gender diversity and environmental sustainability reporting in SSA. The paper finds that the relationship between board attributes and ecological sustainability reporting differs and depends on the ownership structure type. These findings imply that corporate governance reforms in the ownership structure should be implemented to improve environmental reporting in SSA.  To strengthen sustainability reporting, policymakers in SSA should prioritize the development of robust regulatory frameworks and consider the nature of ownership structure since the influence of corporate governance characteristics depends on the type of ownership structure. The paper presents a new perspective on board attributes and environmental sustainability literature by uncovering the influence of ownership structure on board attributes and environmental sustainability reporting in SSA. The paper contributes to board attributes and environmental sustainability literature and holds significant theoretical, conceptual, and practical implications.