School of Accounting, Xijing University, Xi'an, Shaanxi, China.
Ecole Supérieure des Sciences Commerciales D'Angers (ESSCA), Lyon, France.
J Environ Manage. 2022 May 15;310:114707. doi: 10.1016/j.jenvman.2022.114707. Epub 2022 Feb 19.
Driven by the current surge in environmental and climate issues and the pressure of the government and regulatory bodies on corporations to diminish their carbon trails, this study uniquely examines the impact of distinct corporate governance mechanisms on the level of waste produced on a global sample of firms during 2002-2019. Our findings show that corporate governance mechanisms are important predictors of the level of waste produced by firms worldwide. In particular, the board size, board independence, and sustainability committees are linked to a higher level of waste produced. Conversely, the board gender diversity reduces the waste produced, and CEO duality is not associated with the level of waste produced. Our results are robust to alternate proxies of main variables, potential endogeneity concerns (using propensity score matching, two-stage least squares, and generalized system method of moments technique), and additional analyses. Further analysis shows that larger and gender-diverse boards improve the firm's waste recycling behavior, whereas board independence and the presence of a sustainability committee are negatively related to waste recycling. The study has vital insinuations in developing efficient, ethical regulations and guidelines for corporate boards specifically from the perspective of waste management, environmental protection, and restoration.
受当前环境和气候问题的推动，以及政府和监管机构向企业施压要求减少碳足迹，本研究独特地考察了不同公司治理机制对 2002-2019 年全球公司产生废物水平的影响。我们的研究结果表明，公司治理机制是全球公司产生废物水平的重要预测指标。具体而言，董事会规模、董事会独立性和可持续发展委员会与更高的废物产生水平相关。相反，董事会性别多样性降低了废物的产生，而首席执行官的双重身份与废物产生水平无关。我们的结果在使用倾向得分匹配、两阶段最小二乘法和广义系统矩法技术等替代主要变量的代理、潜在的内生性问题以及其他分析方面是稳健的。进一步的分析表明，规模更大和性别多样化的董事会可以提高公司的废物回收行为，而董事会独立性和可持续发展委员会的存在与废物回收呈负相关。本研究从废物管理、环境保护和恢复的角度，对制定高效、符合伦理的公司治理法规和准则具有重要意义。
