Board Members' Education Diversity and Sustainability Reporting
GOLD, N.O., AIFUWA, H.O., USMAN, M.K., SUBAIR, M.L., OSAZEVBARU, A., & OLOYEDE, B.M. (2021). “Board Members’ Education Diversity and Sustainability Reporting.” Annals of Spiru Haret University. Economic Series, 21(1), 109-129, doi: https://doi.org/10.26458/2115
22 Pages Posted: 21 Apr 2021
Date Written: April 8, 2021
The objective of this study is to investigate the influence of an educationally diverse board on sustainability reporting of listed consumer goods in Nigeria. for the period 2014-2019. We developed a sustainability disclosure index using the Global Reporting Initiative (GRI) guidelines to score the information content of annual reports relating to sustainability performance. Board members’ education level and background were used to proxy education diversity in the boardroom. We employed descriptive and inferential statistics to summarize the data and to draw an inference on the population studied. Results from the panel least squares regression revealed that board educational background diversity positively and significantly affects the sustainability reporting of consumer goods firms in Nigeria. However, we found no evidence on the nexus between diversity in the level of education of board members and sustainability reporting. The study concluded that board education diversity influences sustainability reporting in Nigeria. Consumer goods firms should frequently conduct workshops and symposiums on environmental and social reporting issues for their board members and employ directors from a diverse educational background into the board.
Keywords: education level diversity; education background diversity; sustainability reporting; global reporting initiative, consumer goods firms
JEL Classification: M10, M14, M41, M48
Suggested Citation: Suggested Citation