The effect of co-opted boards on corporate carbon performance: Evidence from financially material industries

Develay, E ORCID: https://orcid.org/0000-0003-4396-841X and Virk, NS ORCID: https://orcid.org/0000-0001-6338-2198 (2024) The effect of co-opted boards on corporate carbon performance: Evidence from financially material industries. Economics Letters, 243. 111910. ISSN 0165-1765

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Official URL: http://dx.doi.org/10.1016/j.econlet.2024.111910

Abstract

We examine the relationship between co-opted boards and corporate carbon performance. Results show that co-opted boards decrease GHG intensity in financially material industries with no effect in non-financially material industries. For firms in financially material industries, this relationship is time-variant and positive when we interact GHG intensity with R&D investments. This result posits inefficient R&D allocation in the presence of co-opted boards. Our findings bring a more nuanced picture concerning the influence of co-opted boards on corporate carbon performance.

Item Type:	Article (Article)
Peer-reviewed:	Yes
Date Deposited:	05 Sep 2024 16:00
Publisher:	Elsevier
Additional Information:	This is an open access article published in Economics Letters, by Elsevier.
Divisions:	Faculties > Business and Law Faculties > Business and Law > Finance and Economics
Subject terms:	14 Economics, Economics, 38 Economics
Data Access Statement:	Data will be made available on request.
URI:	https://e-space.mmu.ac.uk/id/eprint/635428
DOI:	https://doi.org/10.1016/j.econlet.2024.111910
ISSN	0165-1765
e-ISSN	1873-7374

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