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<p>This study examines the impact of board members’ educational levels on environmental, social, and governance (ESG) disclosure, drawing on cognitive diversity theory, resource dependence theory, and upper echelons theory. Using a panel dataset of 810 firm-year observations from Jordanian non-financial companies listed on the Amman Stock Exchange between 2012 and 2021, the study investigates how varying levels of educational attainment (high school, diploma, bachelor’s, master’s, and Ph.D. degrees) affect ESG reporting practices. The findings reveal that board members with bachelor’s degrees consistently and positively influence all ESG dimensions. This can be interpreted through the lens of cognitive diversity and resource dependence theories, as bachelor’s degree holders often bring well-rounded, applied business knowledge that aligns with the strategic and operational nature of ESG implementation. Their balanced educational background, combined with full commitment to their corporate responsibilities, enables them to contribute meaningfully to ESG oversight and leverage relevant networks and external resources. In contrast, board members with high school or diploma qualifications show limited influence on ESG disclosure, while those with master’s and Ph.D. degrees exhibit mixed or non-significant effects. Drawing on upper echelons theory, this may reflect a divergence between their academic orientation and the practical demands of board governance. Advanced degree holders, while highly knowledgeable, may be more engaged in research or academic roles, which can reduce their availability or focus on firm-level ESG strategy. These findings suggest that not all educational diversity equally enhances governance outcomes; rather, the effectiveness of educational backgrounds depends on how well they align with the board’s strategic responsibilities and engagement. The study offers practical implications for regulators, firms, and policymakers, emphasizing the need for educationally diverse yet operationally committed boards to advance ESG practices. While focused on Jordan, the findings contribute to broader debates on board composition and sustainable corporate governance.</p>

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Educational profiles of board members and their role in shaping ESG outcomes

  • 期刊论文

  • 发表日期：

    2025年7月29日

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  • Hamzeh Al Amosh

摘要

This study examines the impact of board members’ educational levels on environmental, social, and governance (ESG) disclosure, drawing on cognitive diversity theory, resource dependence theory, and upper echelons theory. Using a panel dataset of 810 firm-year observations from Jordanian non-financial companies listed on the Amman Stock Exchange between 2012 and 2021, the study investigates how varying levels of educational attainment (high school, diploma, bachelor’s, master’s, and Ph.D. degrees) affect ESG reporting practices. The findings reveal that board members with bachelor’s degrees consistently and positively influence all ESG dimensions. This can be interpreted through the lens of cognitive diversity and resource dependence theories, as bachelor’s degree holders often bring well-rounded, applied business knowledge that aligns with the strategic and operational nature of ESG implementation. Their balanced educational background, combined with full commitment to their corporate responsibilities, enables them to contribute meaningfully to ESG oversight and leverage relevant networks and external resources. In contrast, board members with high school or diploma qualifications show limited influence on ESG disclosure, while those with master’s and Ph.D. degrees exhibit mixed or non-significant effects. Drawing on upper echelons theory, this may reflect a divergence between their academic orientation and the practical demands of board governance. Advanced degree holders, while highly knowledgeable, may be more engaged in research or academic roles, which can reduce their availability or focus on firm-level ESG strategy. These findings suggest that not all educational diversity equally enhances governance outcomes; rather, the effectiveness of educational backgrounds depends on how well they align with the board’s strategic responsibilities and engagement. The study offers practical implications for regulators, firms, and policymakers, emphasizing the need for educationally diverse yet operationally committed boards to advance ESG practices. While focused on Jordan, the findings contribute to broader debates on board composition and sustainable corporate governance.