Does National Culture Influence Corporate ESG Disclosures? Evidence from Cross-Country Study

The present study empirically investigates the influence of country-level informal institutions on corporate ESG disclosures. We use culture as measure institution. reveals that, more than economic factors, better explains wide variations disclosure practices across countries. larger sample earlier studies and apply hierarchical linear modelling (HLM) technique for estimation. reports significant association between different measures national culture, proposed by Hofstede, Further, we also report direct impact well moderating role firm characteristics firms’ decisions. find that size is an important factor along with Tobin’s Q sometimes strengthens or weakens overall effects cultural dimensions Adoption Williamson’s framework ‘New Institutional Economics’ in context behaviour a novel contribution to existing body knowledge.