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<p>The present study attempts to identify the impact of four corporate board characteristics (namely board size, board gender diversity, board independence and CEO duality) on firms’ corporate climate change disclosure (CCD) quality in the Indian context. The CCD quality is determined based on the Task Force on Climate-Related Financial Disclosures (TCFD) framework and its four core elements. The study considers unbalanced panel data comprising 77 non-financial Indian-listed companies from the BSE100 index for FY 2018–2019 to FY 2021–2022. Based on the model suitability tests, REM or FEM is applied in the study. Further, an additional analysis is conducted to check if the results differ between large and small Indian firms. The results have demonstrated that board size and CEO duality have adverse impacts on CCD and its components, while favourable outcomes are expected from board independence. Board gender diversity has shown a non-significant impact on disclosure quality. Further, certain dissimilarities are observed concerning the results of large and small firms in the Indian context. The empirical results are expected to assist firm managers take the necessary steps to improve their sustainable disclosure practices. Similarly, the study will help investors in making investment decisions by analyzing one’s board characteristics. The investigation of various dimensions of the recently introduced TCFD framework is very limited in number in the prevailing literature. More specifically, studies that have explored the impact of board characteristics on firms’ CCD quality based on the TCFD framework are completely absent, especially in the Indian context.</p>

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Examining the impact of corporate board characteristics on corporate climate change disclosure: evidence from the emerging Indian Economy

  • 期刊论文

  • 发表日期：

    2026年4月6日

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  • Nivaj Gogoi,
  • Yeshi Ngima,
  • Kiran Gope,
  • Biswajit Ghose,
  • Najul Laskar

摘要

The present study attempts to identify the impact of four corporate board characteristics (namely board size, board gender diversity, board independence and CEO duality) on firms’ corporate climate change disclosure (CCD) quality in the Indian context. The CCD quality is determined based on the Task Force on Climate-Related Financial Disclosures (TCFD) framework and its four core elements. The study considers unbalanced panel data comprising 77 non-financial Indian-listed companies from the BSE100 index for FY 2018–2019 to FY 2021–2022. Based on the model suitability tests, REM or FEM is applied in the study. Further, an additional analysis is conducted to check if the results differ between large and small Indian firms. The results have demonstrated that board size and CEO duality have adverse impacts on CCD and its components, while favourable outcomes are expected from board independence. Board gender diversity has shown a non-significant impact on disclosure quality. Further, certain dissimilarities are observed concerning the results of large and small firms in the Indian context. The empirical results are expected to assist firm managers take the necessary steps to improve their sustainable disclosure practices. Similarly, the study will help investors in making investment decisions by analyzing one’s board characteristics. The investigation of various dimensions of the recently introduced TCFD framework is very limited in number in the prevailing literature. More specifically, studies that have explored the impact of board characteristics on firms’ CCD quality based on the TCFD framework are completely absent, especially in the Indian context.