The effect of corporate governance on SDG performance of Italian listed companies

Titolo Rivista MANAGEMENT CONTROL
Autori/Curatori Francesca Sgrò, Gail Denisse Chamochumbi Diaz, Federica Palazzi, Massimo Ciambotti
Anno di pubblicazione 2025 Fascicolo 2025/1
Lingua Inglese Numero pagine 25 P. 111-135 Dimensione file 206 KB
DOI 10.3280/MACO2025-001006
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Adopting agency and stakeholders’ theories, this study examines the relationship between corporate governance and sustainability performance, focusing on Italian listed companies. Specifically, this study investigates which corporate governance attributes, such as board size, the presence of independent members and the institution of social committees, influence the achievement of Sustainable Development Goals (SDGs). Based on a quantitative approach, this study has employed an ordinary least squares (OLS) regression model, and data have been collected from a sample of 234 companies extracted from the ATOKA-CERVED database. Findings suggest that the presence of independent members, and a sustainability committee, positively contributes to the achievement of SDGs. Regarding theoretical implications, our study supports the valid agency and stakeholder theories, suggesting that the greater heterogeneity of the Board (independent directors) and the establishment of sustainability committees seem to reduce agency problems and promote sustainability. Concerning the practical implication, this study offers relevant information to entrepreneurs and managers. Specifically, it recommends diversifying the Board of Directors with independent directors and establishing dedicated committees to address sustainability themes.

Parole chiave:Board of directors, Board of independent directors, Sustainability committee; Sustainability performance, SDGs, Italian listed companies

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Francesca Sgrò, Gail Denisse Chamochumbi Diaz, Federica Palazzi, Massimo Ciambotti, The effect of corporate governance on SDG performance of Italian listed companies in "MANAGEMENT CONTROL" 1/2025, pp 111-135, DOI: 10.3280/MACO2025-001006