Family control, political connections audit committees and CSR disclosure – role of environmental sensitivity
| Variables | Family control | Political connections | ||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| ES | ENS | ES | ENS | |
| CSRD | CSRD | CSRD | CSRD | |
| FC | −6.372*** (1.773) | −1.302 (0.989) | ||
| PC | −3.545*** (1.249) | −3.095*** (0.875) | ||
| AUDIT | −0.959** (0.433) | 1.227*** (0.294) | −1.171*** (0.430) | 1.239*** (0.290) |
| FC × AUDIT | 2.088*** (0.473) | 0.496** (0.253) | ||
| PC × AUDIT | 1.084*** (0.313) | 0.800*** (0.219) | ||
| All controls | Yes | Yes | Yes | Yes |
| Industry FE | Yes | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes | Yes |
| Observations | 307 | 801 | 307 | 801 |
| Adjusted | 0.365 | 0.434 | 0.349 | 0.442 |
| Variables | Family control | Political connections | ||
|---|---|---|---|---|
| (1) | (2) | (3) | (4) | |
| −6.372 | −1.302 (0.989) | |||
| −3.545 | −3.095 | |||
| −0.959 | 1.227 | −1.171 | 1.239 | |
| 2.088 | 0.496 | |||
| 1.084 | 0.800 | |||
| All controls | Yes | Yes | Yes | Yes |
| Industry | Yes | Yes | Yes | Yes |
| Year | Yes | Yes | Yes | Yes |
| Observations | 307 | 801 | 307 | 801 |
| Adjusted | 0.365 | 0.434 | 0.349 | 0.442 |
This table presents the regression results examining whether the moderating effect of audit committees on CSR disclosure differs between environmentally sensitive and non-sensitive firms. Detailed definitions of variables are provided in Appendix 1 Table A1. All regressions control for industry and time fixed effects. The standard errors are reported in parentheses. ***, ** and * denote significance at the 1, 5 and 10% levels, respectively
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