Effect of Board Involvement on Corporate Sustainability Reporting: Evidence from Colombo Stock Exchange – Sri Lanka
AbstractCorporate sustainability is a wider concept with aspects of economic, society and environment. These aspects need to implement in a balanced manner to achieve the effectiveness of corporate sustainability. Purpose of this study is to investigate the effect of board involvement on corporate sustainability reporting. Board size, board independence, dual leadership, female directors of the board and ownership of the directors were identified as independent variables and level of GRI disclosures was identified as the dependent variable. Firm profitability and total assets were considered as control variables. Date was collected from 37 listed companies in the Colombo Stock Exchange over the period of 5 years from 2016-2020, representing all business sectors. Descriptive analysis and multiple regression analysis were done using the E-Views package. Findings revealed that board independence, female directors and board ownership have significant effect on level of corporate sustainability reporting. But, board size and CEO duality have no significant effect on corporate sustainability reporting.Key Words: Board Involvement, Colombo Stock Exchange, Global Reporting Initiative, Sustainability Reporting
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