Corporate governance practice and sustainability reporting disclosure in Sri Lanka

Abstract

Purpose: The aim of this study is to examine what information is voluntarily disclosed in sustainability reporting and to what extent corporate governance characteristics influence the sustainability reporting disclosure of companies listed in Sri Lanka. Design/methodology/approach: This study made use of a mixed research methodology. The first stage of this study examined the corporate governance practice and sustainability reporting disclosures of listed companies using qualitative content analysis. The next stage quantified both the scores of corporate governance practice and sustainability reporting disclosures. A measuring instrument comprising 26 checklists was used to measure the disclosures. Findings: The study found that most companies voluntarily disclose information regarding sustainability, and corporate governance practice, impacts sustainability reporting disclosure in companies listed on the Colombo Stock Exchange in Sri Lanka. Practical implications: This study will benefit policymakers, organizations, and those interested in improving disclosures, not only in sustainability reporting but also in generating reports to inform stakeholders Originality value: Research on corporate governance practices and sustainability reporting disclosure in Sri Lanka is highly original and has the potential to make significant contributions to both academic literature and practical policy. The research could influence both corporate strategies and regulatory approaches, enhancing transparency and contributing to long-term sustainable economic development in Sri Lanka.