Governing for sustainability: board characteristics and SDG disclosure level in Italian benefit corporations

Purpose The purpose of this study is twofold. First, it assesses the extent of sustainable development goals (SDGs) disclosure in the benefit impact reports (BIRs) of Italian benefit corporations. Second, it investigates how board characteristics – such as size, nationality, gender diversity and age – affect the level of SDG disclosure. Design/methodology/approach A manual content analysis of BIRs was performed, and four hypotheses based on agency theory were tested using a sample of 83 Italian benefit corporations. Findings The results show a positive and statistically significant relationship between board size and gender diversity, while a higher average board age is negatively and statistically significantly associated with SDG disclosure levels. Originality/value This study contributes to the literature in two ways. First, it enriches the understanding of SDG-related disclosures in the context of Italian benefit companies. Second, it provides new empirical evidence on how specific board characteristics influence the extent of SDG disclosures.