The effects of corporate governance mechanisms and vice-chancellor characteristics on nature positive activities disclosure in UK HEIs

This research study explores the extent to which UK higher education institutions (HEIs) voluntarily make nature positive activities disclosures and examines whether governing board mechanisms and vice-chancellor characteristics and tenure, assurance and environmental award received by HEI have influence such voluntary nature positive activities disclosure. Using a sample of 130 UK HEIs over a 4-year period (i.e. 520 university-year observations), we find the level of nature positive activities disclosures among UK HEIs is very low and vary between the HEIs, which is consistent with earlier studies on the general voluntary disclosure practices among HEIs. We also find that governing board mechanisms, assurance and environmental ward received by HEI have a significant impact on nature positive activities disclosure. Specially we find a positive and significant influence between HEI governing board effectiveness (frequency of board meeting and number of executive meeting), assurance (assurance and audited by big 4) and environmental award received by HEI, and nature positive activities disclosure. In contrast, we find governing board structure (governing board size and no of female members in board), vice-chancellor characteristics and tenure (vice-chancellor gender, number of years’ work as vice chancellor and vice chancellor remuneration based on sustainability performance) have no association with nature positive activities disclosure. Our findings have important implications for regulators, policymakers and funding councils, and provide evidence which appear to be robust when controlling for possible endogeneities.