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22-06-2022 | Original Paper

Board monitoring effectiveness and corporate sustainability performance: do legal system and CEO non-duality matter?

Author: Siew Peng Lee

Published in: Review of Managerial Science | Issue 4/2023

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Abstract

Using a cross-sectional dataset comprising 749 firms from 13 countries in Asia Pacific markets, this study examines the effect of board monitoring effectiveness (BME) on corporate sustainability performance (CSP). This study also investigates how BME and the country’s legal system, and BME and CEO non-duality leadership interact to influence CSP. The results reveal that BME positively affects CSP, suggesting that strengthening board monitoring effectiveness will lead to a greater drive towards firms’ sustainable business conduct. This study also finds that firms from countries with civil law system and firms practicing CEO non-duality leadership would enhance the impact of BME on CSP. Additionally, the effect of BME on CSP is more pronounced among non-duality firms operating in countries with civil law regime. The findings are consistent and robust to two different measures of CSP.

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Appendix
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Footnotes
1
Countries following a common law system are typically those that were former British colonies or protectorates. The U.S., Canada, England, India, and Australia are generally considered common law countries because they were all once subjects or colonies of Great Britain. Countries following a civil law system are typically those that were former French, Dutch, German, Spanish or Portuguese colonies or protectorates. Most of the Central and Eastern European and East Asian countries are civil law countries. Examples of civil law countries include Germany, France, Spain, China, and Japan.
 
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Metadata
Title
Board monitoring effectiveness and corporate sustainability performance: do legal system and CEO non-duality matter?
Author
Siew Peng Lee
Publication date
22-06-2022
Publisher
Springer Berlin Heidelberg
Published in
Review of Managerial Science / Issue 4/2023
Print ISSN: 1863-6683
Electronic ISSN: 1863-6691
DOI
https://doi.org/10.1007/s11846-022-00559-z

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