Research ArticleOpen AccessGoogle Scholar indexed
Environmental and Social Concerns of Stakeholders and Corporate Governance in Germany
NUST Business School, National University of Sciences and Technology (NUST), Islamabad, Pakistan
Department of Economics and Finance, Faculty of Business and Law, University of Portsmouth, Portsmouth, UK
Consultant in Economics and Finance, Riyadh, Saudi Arabia
- 1 NUST Business School, National University of Sciences and Technology (NUST), Islamabad, Pakistan
- 2 Department of Economics and Finance, Faculty of Business and Law, University of Portsmouth, Portsmouth, UK
- 3 Consultant in Economics and Finance, Riyadh, Saudi Arabia
Theoretical Economics Letters·Volume 11 (2021)·Pages 881–888·Published 3 September 2021·DOI10.4236/tel.2021.115056
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Abstract
This study explores the overall effects of corporate governance practices and features of board effectiveness on the environmental and social (ES) concerns of stakeholders in Germany. The research presents ES concerns through ES indices. The study uses the data of listed firms in Germany for the period 2004-2017. The study finds that overall measurement of corporate governance in firms in Germany decreases the ES concerns of stakeholders. However, when various features of corporate boards are used as measures of corporate governance, it finds that if the chairman is an ex-CEO, there are significantly higher ES concerns for stakeholders in Germany.
KeywordsStakeholdersCorporate GovernanceGMMStakeholder Concerns
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