Building Trust for Sustainable Disclosure: The Effect of Social Capital on Sustainable Disclosure and the Moderating Role of Corruption
研究了美国公司中社会资本对ESG披露的影响，发现腐败会削弱社会资本的积极作用，而政府承诺能减轻腐败的负面影响，强调健全的政府体系对企业透明度的关键作用。
ABSTRACT This paper explores the effect of social capital on firms' Environmental, Social, and Governance (ESG) disclosure practices using a sample of US companies. We propose that public corruption moderates this relationship. Our findings indicate that for social capital to effectively enhance ESG disclosure, it must function within a low‐corruption environment. We show that governmental commitment decreases the negative impact of corruption and amplifies the positive effect of social capital on ESG disclosure. Our results emphasize that corruption erodes trust and undermines the benefits of social capital, highlighting the importance of a robust governmental system for promoting corporate ESG transparency. This study contributes to the understanding of the complex dynamics influencing ESG disclosure practices and stresses the role of institutional frameworks and societal norms in advancing corporate transparency and accountability.