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This study aims to explore the effect of the board of directors on the capital structure of listed non-financial firms on the Pakistan Stock Exchange (PSX).

Using a panel data set of 208 financial Pakistani enterprises from 2015 to 2020, regression analysis is employed to examine the data utilizing independent variables such as board size, outside directors, directors' remuneration and managerial ownership to evaluate board characteristics and the total debt ratio for capital structure.

The results show that the board size positively impacts the debt ratio. However, outside directors, directors' remuneration and managerial ownership are negatively connected with the capital structure. The empirical findings indicate that corporate governance mechanisms play an important role in the capital structure decision of Pakistani non-financial companies.

This research contributes to the literature by addressing the function of the board of directors in the governance of Pakistani enterprises.

Few studies in Pakistan focus on board characteristics and those that do utilize different variables. This research aims to fill a critical gap by investigating the effect of the board of directors' attributes and the capital structure of the listed non-financial sector of Pakistan.

Prior research shows that co-opted directors adversely impact many corporate outcomes, yet little is known about these directors' impact on CSR performance. The authors investigate whether and how co-opted boards affect the firm's CSR score and component CSR scores.

The authors use panel regression models to investigate this study's research questions and address endogeneity concerns using the system generalized method of moments (system GMM) and a quasi-natural experiment.

The authors report new evidence showing that co-opted boards negatively impact CSR performance based on the CSR score. Results identify board characteristics that accentuate or moderate the effect of co-option on the CSR score and show that board independence, the presence of women on the board, and CEO duality positively and significantly impact the CSR score. These findings are robust across alternative measures of co-option and in the results of models addressing endogeneity concerns. An extended analysis utilizing CSR component scores reveals a significant negative impact of co-option on the environment component score using various measures of co-option and on employee relations, product quality, and human rights component scores using selected measures of co-option.

Findings have implications for board structuring and composition for firms aiming at improving their CSR score.

The study provides new evidence on the impact of co-opted boards on CSR performance. The results help inform stakeholders such as policymakers, executives and directors, shareholders, and capital market participants on how board composition affects socially responsible activities and performance and identify CSR component areas that require attention.

This paper aims to explore the effect of female’s presence in corporate governance structures to reduce agency conflicts, using a quantile regression approach.

The research investigates the relationship between company performance and boardroom gender diversity using quantile regression methods. The study uses annual data of 111 companies listed on the Johannesburg Stock Exchange from 2010 to 2020.

The study reveals that women on the board impact firm return on assets and enterprise value, varying across performance distribution. This contrasts fixed effect findings but aligns with two-stage least squares. However, quantile regression indicates that female executives and independent non-executive directors have notably negative impacts in high and low-performing companies, highlighting non-uniformity in the board gender diversity effect compared with previous assumptions.

The empirical findings suggest that companies with no women directors on the board are generally more likely to experience a decrease in performance and enterprise value relative to companies with women directors on the board. As recommended through the King Code of Corporate Governance, it is thus valuable to companies to ensure gender diversity on the board of directors.

The research confirms through rigorous statistical analyses that corporate governance policies, principles and guidelines should include gender diversity as a requirement for a board of directors.

This paper aims to discuss the work of non-executive directors (NEDs) as inherently paradoxical. Paradox refers to the presence of persistent contradictions between interdependent forces. Those persistent tensions are explored, and approaches are indicated to stimulate the adaptive use of paradoxes as forces of innovation and renewal.

This conceptual approach can be read as an invitation for corporate governance scholars to embrace the logic of paradox to expand the understanding of this topic. Paradox is not conceptualized as an alternative to dominant structural views, including board composition, but as a complementary conceptual perspective, a meta-theoretical lens to shed light on the tensions inherent to governance.

The authors propose that paradox theory offers a fresh conceptual lens to study the role of NEDs. This approach may help NEDs to turn tensions and paradoxes visible to develop a rich understanding of their work, as well as helping them navigate the complexities of organizing, a process rich in inherent paradoxicality.

Organizational paradox theory is a bourgeoning field of study, but the conceptual lens of paradox has still been underexplored in the study of corporate governance.

This paper aims to investigate the impact of sustainable board governance, based on (1) sustainability board committees, (2) critical mass of female board members and (3) sustainability-related executive compensation, on sustainable supply chain reporting (SSCR).

Based on stakeholder and critical mass theories, a sample of 1,577 firm-year observations for firms listed at the EuroSTOXX600 for the period 2017–2021 is used. Sustainable board governance and SSCR proxies are collected from the Refinitiv database. Correlation and logit regression analyses are conducted to measure the impact of sustainable board governance on SSCR.

Sustainable board governance significantly improves SSCR. The findings are robust to various robustness checks, based on the modification of dependent and independent variables.

Due to massive regulations on sustainability reporting, finance and corporate governance, firms listed on the EuroSTOXX 600 are focused in this analysis. The European capital market represents a unique setting for archival research.

European standard setters should connect the relationship between sustainable board governance and SSCR in future regulations, for example, due to the recent corporate sustainability reporting directive (CSRD) and corporate sustainability due diligence directive (CSDDD).

To the best of the author’s knowledge, this paper provides the first analysis on the impact of sustainable board governance on SSCR.

The purpose of this viewpoint is to comment on the implications of the Financial Reporting Council’s (FRC) Review and Consultation Documents expected to update regulation governing the determination/reporting of executive remuneration in UK stock market listed companies. Practical points from actors involved in executive remuneration decision-making/reporting are presented, set within the context of neo-institutional theory.

This qualitative research systematically analyses UK Corporate Governance Codes, the FRC’s recent Review/Consultation and peer-reviewed published studies of executive pay determination based on in-depth interviews with non-executive directors, institutional investors, executive pay advisers and human resources (HR) professionals.

Further regulation, while providing coercive influence over executive remuneration decision-making, is likely to lead to only limited change in processes and reporting due to benchmarking, the make-up of Remco membership and shareholders' preferences. Mimetic and normative isomorphic forces work against coercive isomorphism leading to resistance to change as decision-makers strive to safeguard their social status/reputations.

Reviewing executive remuneration package components and paying attention to company strategy, sustainability and values in pay determination are welcomed but recognised as difficult to achieve. Drawing upon a wider range of information sources/voices can assist in broadening the discussion. HR professionals can help widen stakeholder input to executive remuneration decision-making.

The authors’ viewpoint is grounded in peer-reviewed empirical data that draws directly upon the views/experiences of executive remuneration decision-makers to identify problems in adhering to FRC recommendations for change. The authors extend the meta-theoretical perspective of neo-institutional theory – specifically institutional isomorphism – as providing explanatory and predictive power to understand executive pay decision-making.

The purpose of this paper is to understand how those involved in executive pay determination in large publicly quoted UK businesses see the role of diversity within remuneration committees (Remcos) as enabling the input of different perspectives, which can enhance their decision-making and potentially improve pay outcomes.

Qualitative, semi-structured interviews were undertaken with 18 high-profile major-enterprise decision-makers and their advisers, i.e. non-executive directors (NEDs) serving Remcos, institutional investors, executive pay consultants and internal human resources (HR) reward specialists, together with data from three focus groups with 10 further reward management practitioners.

Remco members recognise the benefits of social category/demographic diversity but say the likelihood of increasing this is low, given talent pipeline issues. The widening of value diversity is considered problematic for Remcos’ functioning. Informational diversity is used as a proxy for social category/demographic diversity to improve Remcos’ decision-making on executive pay. While the inclusion of members from wider social networks is recognised as potentially bringing a different informational perspective, the social character of Remcos, reflecting their elite nature and experience of wealth, appears ingrained.

Our original contribution is to extend the application of upper echelons theory in the context of Remco decision-making to explain why members do not welcome widening informational diversity by appointing people from different social networks who lack value similarity. Instead, by drawing views from employees, HR acts as a proxy for social network informational diversity. The elite, upper-echelons nature of Remco appointments remains unchanged and team functioning is not disrupted.

This study aims to examine the impact of board characteristics on climate change disclosures (CCDs) in the context of an emerging economy, with a unique focus on regulatory influences.

This study analyzes longitudinal data (2014–2021) from environmentally sensitive firms listed on the Dhaka Stock Exchange, using a disclosure index developed within the Global Reporting Initiative framework. The authors use a neo-institutional theoretical lens to explore regulatory influences on CCD through board characteristics. This study uses hand-collected data from annual reports owing to the absence of an established database.

The results indicate that a larger board size, the presence of foreign directors and the existence of an audit committee correlate with higher levels of CCD disclosure. Conversely, a higher frequency of board meetings is associated with lower CCD disclosure levels. This study also observed an increase in CCD following the implementation of corporate governance guidelines by the Bangladesh Securities and Exchange Commission, albeit with a relatively low number of firms making these disclosures.

This study contributes to the climate change reporting literature by providing empirical evidence of regulatory influences on CCD through board characteristics in an emerging economy. However, the findings may not be universally applicable, considering the study’s focus on Bangladeshi listed firms.

This study suggests growing pressures for diverse stakeholders, including researchers and regulatory bodies, to integrate climate change disclosure into routine activities. This study offers a valuable framework and insights for various stakeholders.

By emphasizing the influence of good governance and sustainability practices, this study contributes to stakeholders’ understanding, aiming to contribute to a better world.

This study stands out by uniquely positioning itself in the climate change reporting literature, shedding light on regulatory influences on CCD through board characteristics in the context of an emerging economy.

The authors investigate the adoption of nomination committees in Australia and identify the managerial power perspective as one explanation for firms not establishing nomination committees. A positive outcome of establishing a nomination committee from the perspective of board diversity is also examined.

The authors adopt an archival approach by collecting data for firms listed on the Australian Securities Exchange (ASX) during the period 2010 to 2018. The authors establish the prevalence of nomination committees for small medium and large Australian firms. Regression analyses are used to determine whether the power of the chief executive officer (CEO) influences the adoption of a nomination committee. The association between having nomination committee and board diversity is also analyzed using regression analyses.

Less than half of firms adopt a nomination committee. Larger firms are more likely to adopt a nomination committee than medium and smaller sized firms. Firms with less powerful CEOs are more likely to adopt a nomination committee. Adoption of a nomination committee is also associated with greater board tenure dispersion and board gender diversity in medium and smaller sized firms.

Evidence on nomination committees provides original research that extends previous research focusing on the audit, risk and remuneration committees and samples restricted to large firms. The nomination committee has an important role to play in the appointment of directors yet limited evidence exists of the adoption rate, explanation for non-adoption and benefits of adoption. The authors add to this evidence.

The aim of this paper is to examine the effect of structural and demographic board diversity as well as board tenure on family firms' environmental performance, by analyzing the differences between family and non-family businesses and within family firms.

Tobit regressions are applied to investigate the effect of independent directors, CEO non-duality, board gender diversity and board tenure on environmental performance. The study also controls for other board and firm characteristics, as well as for time, industry and country-fixed effects. In doing so, the authors rely on a sample of non-financial listed firms from France, Germany, Italy, Spain and Portugal over the period 2014–2021.

The authors find that women on the board positively influence environmental performance and this effect is significant only in family firms, although board tenure negatively moderates the relationship. Board independence significantly affects environmental performance only in non-family firms. A strong presence of family directors has a negative effect on family firms' environmental performance, especially when directors' turnover is low.

This paper examines the unexplored relationship between structural board diversity and environmental performance in family companies. This study provides empirical evidence on the association between gender diversity and family firms' environmental performance focusing for the first time on a European setting. Moreover, this study provides evidence of a different effect of board tenure in family and non-family businesses.