International Journal Of Transport Economics, vol.46, no.3, pp.77-92, 2019 (Journal Indexed in SSCI)
This study explores the determinants of the Environmental, Social, and Governance (ESG) Disclosure Performance of the publicly traded airport companies.
We use regular ordinary least squares (OLS), random effects (RE), and generalized least
squares (GLS) estimations to analyze which factors affect the ESG disclosure performance
of the airport companies.
Based on a dataset over the 2007-2017 period, our findings suggest that larger board and
company size, higher percentage of independent directors, profitability, financial leverage,
and tangibility, and operating in a common law country tend to increase the ESG disclosure
scores of the publicly traded airport companies.
This paper is the first study focusing on the ESG disclosure performance of the airports.
More importantly, our study differs from the previous studies on the transport industry in
employing an aggregate measure for the environmental, social, and governance rather than
concentrating on only an individual dimension of ESG.