Accounting and Society Research Seminar: Dr Mahmoud Elmarzouky, St Andrew's University
Thu 15 Feb 2024 3:00 PM - 4:30 PM GMT
Online, Zoom
Description
The boardroom battle: Examining the relationship between CEO power, gender diversity and modern slavery disclosures
Abstract
We examine how CEO power is associated with corporate modern slavery disclosures (MSD), and whether board gender diversity moderates this relationship. Based on agency and gender socialisation theories, we argue that female directors can challenge the dominance of CEOs and limit their impact on MSD. We find that even though UK companies have made gradual improvements in their MSD, the disclosure levels remain remarkably low. Our results indicate a negative impact of CEO power on MSD levels, and we find evidence that higher female representation limits the CEOs' dominance and negative impact on MSD. The moderating effect of female directors on CEO power is more pronounced when the number of women on the board reaches a critical mass of four. Additionally, we find that the disclosed information on modern slavery often lacks detail, with insufficient information on policies' effectiveness measurement. This could be attributed to the companies' desire to create symbolic legitimacy. Our findings contribute to the calls for increased transparency and accountability in addressing modern slavery and promoting more responsible business practices. This study offers new insights into modern slavery reporting and the role of board leadership in shaping it, which can be relevant to policymakers, companies, and stakeholders.
Keywords: Modern slavery disclosures, CEO Power, board gender diversity, agency theory, gender socialisation theory.
Bio:
https://research.aston.ac.uk/en/persons/dr-mahmoud-elmarzouky