Ceo power characteristics and environmental disclosure
DOI:
https://doi.org/10.16930/2237-766220253574Keywords:
Environmental Disclosure, Brazilian Companies, SDGs, CEO Power, SustainabilityAbstract
This study aimed to analyze the relationship between CEO power and environmental disclosure among publicly listed Brazilian companies on B3 from 2010 to 2022. Using data from 215 firms (1,453 observations), CEO power was measured across three dimensions: structural, ownership, and prestige. Environmental disclosure was assessed through eight environmental indicators related to the corporate sustainability agenda, aligned with the United Nations Sustainable Development Goals (SDGs), encompassing environmental, social, and governance aspects. The analyzed indicators included factors such as carbon emissions, water consumption, waste management, and the use of renewable energy. The findings indicated that only CEO prestige power has a positive and significant relationship with environmental disclosure, highlighting the importance of public recognition of corporate leaders. In contrast, structural and ownership power were not statistically significant. Therefore, this study contributes to the literature by exploring the relationship between CEO characteristics and sustainability practices in an emerging market, providing insights for companies, investors, and policymakers interested in broadly aligningcorporate strategies with the SDG principles.
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