Files in this item
Does capital expenditure matter for ESG disclosure? A UK perspective
Item metadata
dc.contributor.author | Moussa, Ahmed Saber | |
dc.contributor.author | Elmarzouky, Mahmoud | |
dc.date.accessioned | 2024-04-11T15:30:04Z | |
dc.date.available | 2024-04-11T15:30:04Z | |
dc.date.issued | 2023-09-23 | |
dc.identifier | 300573266 | |
dc.identifier | e9fbd76b-2bd6-42d7-aa83-952abe9d0074 | |
dc.identifier | 85175535310 | |
dc.identifier.citation | Moussa , A S & Elmarzouky , M 2023 , ' Does capital expenditure matter for ESG disclosure? A UK perspective ' , Journal of Risk and Financial Management , vol. 16 , no. 10 , 429 . https://doi.org/10.3390/jrfm16100429 | en |
dc.identifier.issn | 1911-8074 | |
dc.identifier.other | Bibtex: moussa2023does | |
dc.identifier.other | ORCID: /0000-0001-9867-6057/work/156626258 | |
dc.identifier.uri | https://hdl.handle.net/10023/29644 | |
dc.description.abstract | This study examines how capital expenditure (capex) affects Environmental, Social, and Governance (ESG) reporting and how corporate governance moderates this effect. We use data from non-financial firms in the FTSE All Share index from 2012 to 2021 and measure ESG disclosure with the Bloomberg ESG Disclosure Score, capex with logarithm of the ratio of capital expenditure to total assets, and corporate governance with a composite index based on Board Size, Independent Board, Board Diversity, and Audit Committee Non-Executives. We also examine the non-linear and threshold effects of capex on ESG disclosure with spline regression models. We find that capex is positively linked to ESG disclosure and that this association is robust for firms with better corporate governance. Our findings imply that capex improves ESG performance and impact and that corporate governance enables ESG communication to stakeholders. Our research advances the existing literature by revealing the link between capex, governance, and ESG reporting in a dynamic and uncertain environment. Our study holds practical significance for companies, investors, and regulators who want to incorporate ESG factors into capex decisions and reporting. | |
dc.format.extent | 19 | |
dc.format.extent | 288674 | |
dc.language.iso | eng | |
dc.relation.ispartof | Journal of Risk and Financial Management | en |
dc.subject | Capital expenditure | en |
dc.subject | ESG disclosure | en |
dc.subject | Stakeholder theory | en |
dc.subject | Resource dependence theory | en |
dc.subject | Principal component analysis | en |
dc.title | Does capital expenditure matter for ESG disclosure? A UK perspective | en |
dc.type | Journal article | en |
dc.contributor.institution | University of St Andrews. Management (Business School) | en |
dc.identifier.doi | https://doi.org/10.3390/jrfm16100429 | |
dc.description.status | Peer reviewed | en |
This item appears in the following Collection(s)
Items in the St Andrews Research Repository are protected by copyright, with all rights reserved, unless otherwise indicated.