The impact of corporate sustainability practice on performance: the mediating role of board diversity. A case study of some selected corporate institutions in the kumasi metropolis
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Date
2023
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KNUST
Abstract
This study examined relationship between corporate sustainability practice and performance of corporate institutions using board diversity as a mediator in the Kumasi metropolis. The study used a total response of 150 from the total population. Regression models were adopted by the researcher to test for the relationship among the variables. the findings of the study reveal that corporate sustainability practices have no influence on an institution's performance. Businesses spend more money on sustainability activities, decreasing their net financial performance. As a result, if a company contributes to the economic, environmental, or social growth of a community, it will incur additional costs, hence raising its financial obligations. Corporate boards of directors play a crucial role in determining the organization's long-term strategic direction. As a result, companies with a diversified organizational structure are more likely to achieve operational transparency and innovation. Finally, the analysis reveals that the lack of clear csp legislation and guidelines is the most significant factor influencing business sustainability practices .the researcher made the following recommendations; governments and local authorities can explore ways in which an agency can use a certain amount of tax to conduct community-based initiatives, such as schools, energy, clean water, housing and income generating activities. This may be in a form of tax exemptions given to these organizations also the local authorities are recommended to organize periodic seminars for various corporate institutions in other to clarify the various regulations and guidelines of corporate sustainability practice finally, the composition of board should be done to take care of some core aspect of diversity. As board diversity leads to better corporate governance and increase companies value.
Description
This thesis is submitted to the department of marketing and corporate strategy, college of humanities and social sciences, Kwame Nkrumah university of science and technology Kumasi, in partial fulfillment of the requirements for the degree of master of business administration (strategic management and consulting) school of business, kunst