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4.1 Discussion
The model's findings (Table 4) illustrate how
corporate governance factors affect CSRD. Board age
and CSRD are negatively correlated, meaning there is
a probability for greater CSRD if the average age of
the board is lower. Younger directors attempt to
include more CSR activities than senior directors
since they are more motivated and supportive of new
market ideas. Hypothesis 1 is therefore approved. The
outcome supports Hypothesis 3 and provides
evidence that the sustainability committee and the
CSRD have a beneficial relationship. A distinct
committee's existence indicates that the company has
a strong attitude toward socially responsible business
practices. Such companies must also have high social
values and increase their CSRD. The level of CSRD
is significantly negatively impacted by the presence
of women directors (hypothesis 4), proving that
having women on the board and the board committee
has detrimental effects on CSRD due to the reality
that both countries' involvement rates for women in
public activities are significantly lower than those of
other developed nations. Board meetings and CSRD
have a negligible correlation, which suggests that the
board meeting frequency has no bearing on the
disclosure of CSR. Our conclusion contradicts
Hypothesis 2, which also came to a similar conclusion
and supported it by claiming that the committee of
directors does not participate in the critical decisions
but merely makes them, the phase of putting CSR
policy into practice. Firm size, financial leverage, and
age demonstrate a substantial beneficial impact on
CSRD compared to control variables.
5 CONCLUSIONS AND FUTURE
SCOPE
The study explored the confluence of CG and CSR in
the banking landscape of emerging economies,
focusing on the role of gender diversity and financial
leverage in shaping CSR disclosure. Employing a
dataset of 432 individuals from commercial banks in
the selected emerging economy, we used multivariate
analysis techniques to examine the relationships
between CG variables, including CSR disclosure,
board composition and ownership structure. They
outcome indicated that board composition, gender
diversity, financial leverage, and industry type
significantly influence CSR disclosure among
commercial banks in the emerging economy. These
finding underscored the importance of fostering
diverse and responsible governance practices within
banks. Recognizing these connections, regulators,
policymakers, and bank stakeholders can collaborate
to elevate corporate governance standards and
promote ethical banking practices, ultimately
contributing to sustainable economic growth in the
emerging economy. However, it is essential to
acknowledge the study's limitations, such as the
specific focus on a single emerging economy, and
future research could expand upon these findings by
exploring cross-cultural variations and trends in CG
and CSR practices among banks in diverse emerging
economies.
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