...-Social-Governance) scores. The polluting level of a company is examined for its potential moderating effect. Design/methodology/approach The focus is on the S&P 500. A structural equation model (SEM) is proposed that considers the effects of governance board constructs on the voluntary disclosure...

... hypothesis is: H1b. Voluntarily disclosed CSR information is negatively associated with firm value. © Emerald Group Publishing Limited 2016 Corporate social responsibility Content analysis Voluntary disclosure Global reporting initiative Value relevance In the last three...