Corporate boards and environmental offence conviction: evidence from the United Kingdom

Venancio Tauringana · Dragana Radičić · Alan K. Kirkpatrick · Renata Konadu

28 citations0/0 files storedCorporate Governance

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Corporate Finance and Governance Gender Diversity and Inequality Regulation and Compliance Studies

Abstract

Purpose This paper aims to report the results of an investigation into the relationship between corporate boards and the likelihood of a firm being convicted of an environmental offence in the United Kingdom (UK). Design/methodology/approach The study uses binary logistics regression analysis to model the relationship between corporate boards and the likelihood of a firm being convicted of an environmental offence in the UK, controlling for firm size, financial leverage and profitability. Findings The results suggest that the likelihood of a firm being convicted of an environmental offence increases with board size but decreases with the presence of a woman on the board. No support is found for the authors’ hypotheses about the proportion of outside directors and the presence of a lawyer on the board. Marginal effects’ results also show that adding one member to the board increases the chance of a firm being convicted for an environmental offence by 4.2 per cent, while having a woman on the board decreases the likelihood of a firm being convicted of an environmental offence by 31.8 per cent. Research limitations/implications The sample size of 55 firms is small which could affect the generalisability of the study. Originality/value The study uses proprietary data obtained from the UK Environmental Agency to provide evidence for the first time how corporate boards affect the chances of a listed firm being convicted of an environmental offence in the UK.

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 2010Strategic management a stakeholder approach 1983Separation of Ownership and Control 2011External Control of Organizations: Resource Dependence Perspective 1989Agency Theory: An Assessment and Review 1979A Three-Dimensional Conceptual Model of Corporate Performance 1995The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications 1995A Natural-Resource-Based View of the Firm

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