Corporate Governance and Corporate Political Responsibility
Ali, Hesham, Adegbite, Emmanuel, and Nguyen, Tam Huy (2023) Corporate Governance and Corporate Political Responsibility. Business & Society, 62 (7). pp. 1496-1540.
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Abstract
This study investigates the pivotal policy question of whether a firm’s corporate governance influences its political spending disclosures. Using a sample of S&P 500 firms from 2011 to 2019, we find empirical evidence that a board of directors’ monitoring and resource provision roles affect a firm’s political spending disclosure. Extending agency theory-driven expectations, we provide evidence that measures of a board’s monitoring role such as female monitoring directors, shorter board tenure, audit committee size, audit committee meetings, and audit committee education enhance a firm’s political spending disclosures. Second, drawing from resource dependence theory and examining a board’s resource provisions, we find evidence that female advisory directors, CEO duality, additional directorships, and audit committee characteristics (i.e., size, number of meetings, age, and education) promote political spending disclosures. The study contributes to corporate governance and corporate political activity literatures by outlining different types of governance that may drive a firm’s political spending disclosures, a key component of a firm’s political responsibility.
| Item ID: | 78610 |
|---|---|
| Item Type: | Article (Research - C1) |
| ISSN: | 1552-4205 |
| Keywords: | corporate governance, corporate political activity, corporate political responsibility, political spending disclosure, political transparency |
| Copyright Information: | © The Author(s) 2023. This article is distributed under the terms of the Creative Commons Attribution-NonCommercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission provided the original work is attributed as specified on the SAGE and Open Access page (https://us.sagepub.com/en-us/nam/open-access-at-sage). |
| Date Deposited: | 07 Jun 2023 00:50 |
| FoR Codes: | 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3501 Accounting, auditing and accountability > 350199 Accounting, auditing and accountability not elsewhere classified @ 100% |
| SEO Codes: | 13 CULTURE AND SOCIETY > 1399 Other culture and society > 139999 Other culture and society not elsewhere classified @ 100% |
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