The relationship between board composition and environmental disclosures: A case study of listed companies in the market for alternative investment in Thailand
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Abstract
This study aims to investigate the extent and level of environmental disclosures as well as examine the relationship between board composition and the level of environmental disclosures of listed companies in the Market for Alternative Investment (MAI)in Thailand. The secondary data were collected from the annual reports, financial statements and notes to financial statements from all 8 industries of listed companies in the MAI from the year 2012 to 2015. The sample group that satisfied the required conditions consists of 73 companies. Content analysis using word counts is a method used to quantify the level of environmental disclosures. Descriptive statistics and multiple regression analysis are used to analyze the data. The results indicate a continuous increase in the mean level of environmental disclosures from the year 2012 to 2015, with the most common environmental disclosures related to energy category. In terms of the relationship between board composition and the level of environmental disclosures of listed companies in the MAI, there is no relationship between such variables; nevertheless, this study found a significant negative relationship of the control variable, which is type of industry, and the level of environmental disclosures.
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