Russo, Antonella ORCID: 0000-0001-9376-1383, Kalyvas, Nikolaos Antonios, Bempei, Theodora and Neri, Lorenzo ORCID: 0000-0001-6627-0386 (2023) Diversity on boards and modern slavery disclosure: evidence from the UK. Journal of Business Ethics. ISSN 0167-4544 (Print), 1573-0697 (Online) (In Press)

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Abstract

Herein we investigate whether board diversity influences the quality of modern slavery disclosure by large UK firms. Using data and methodology of the Business and Human Rights Center on the modern slavery statements issued by FTSE-100 firms from 2016-2018, and informed by legitimacy theory and upper echelons theory, we demonstrate that board diversity characteristics significantly inform such disclosures. We document a positive association between both nationality diversity and the financial education of the board of directors and the quality of modern slavery disclosure. We found gender diversity negatively affects modern slavery disclosure with regard to risk components only. Further analysis shows modern slavery disclosure does not exhibit a significant association with performance, highlighting the importance of raising awareness concerning this issue in the markets and the community. These findings could have important implications when formulating future policies and regulations to improve corporate disclosures regarding modern slavery.

Item Type:	Article
Uncontrolled Keywords:	modern slavery; corporate governance; diversity
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions
Faculty / School / Research Centre / Research Group:	Faculty of Business Faculty of Business > Department of Accounting & Finance Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA)
Last Modified:	18 May 2023 15:29
URI:	http://gala.gre.ac.uk/id/eprint/42591

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