ABSTRACT The growing emphasis on environmental, social, and governance (ESG) considerations reflects a shift in corporate responsibilities, stakeholders' expectations, and influencing stakeholder engagement, coupled with the growing environmental regulatory pressure for sustainability disclosure initiatives. Therefore, this study investigates how strategically configured board features impact ESG disclosure and how environmental regulation influences this relationship. Based on agency, stakeholder, resource‐based theories and data analysis from 428 oil and gas firms within Latin America and the Caribbean region from 2012 to 2023 and by deploying econometric estimators like General Method of Moments (GMM), Pooled Mean Group (PMG), Common Correlated Effects Mean Group (CCEMG), and Two‐Stage Least Squares (2SLS), the study revealed that gender diversity, board size, and board independence positively impact ESG disclosure, while foreign nationality and CEO duality exhibit negative impacts. Furthermore, the environmental regulation moderates the nexus between board features and ESG disclosure. The study offers actionable insights for policymakers and corporate leaders to enhance ESG disclosure through tailored governance reforms and robust regulatory policies.
Nagriwum et al. (Mon,) studied this question.
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