Journal of Wellbeing Management and Applied Psychology (웰빙융합연구)

Korea Wellbeing Convergence Association (한국웰빙융합학회)
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Ownership Concentration, Board Education Diversity, and Environmental Accounting Disclosure in Kenyan Listed Firms. Moderation Approach

  • Received : 2020.02.18
  • Accepted : 2020.03.10
  • Published : 2020.03.30
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Abstract

The purpose of this study was to examine the moderating effect of board education diversity on the relationship between ownership concentration and environmental accounting disclosure. The study was driven by stakeholder's theory. The longitudinal research design was adopted in the study. The study targeted 27 listed firms from 2008 to 2017. Panel regression analysis results indicated ownership concentration (β = -.131, ρ<.05) had a negative and significant effect on environmental disclosure in Kenyan firms. However, Board education diversity positively moderated the relationship between ownership concentration (β=.138, ρ<.05) and environmental accounting disclosure. Thus, board education diversity is an enhancing moderator in the relationship between ownership concentration and environmental accounting disclosure. The findings validate stakeholder theory's proposition. The study recommends that firms listed in the NSE ought to diffuse ownership concentration, and their boards should be well educated and experienced to enhance environmental accounting disclosure.

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