Corporate Sustainable Practices, Institutional Factors, and Sustainable Development Goals: Evidence From Asian Emerging Markets

ABSTRACT The study examines the impacts of corporate sustainable practices and institutional factors on the disclosure of Sustainable Development Goals in the context of five emerging nations of Asia. The study's novelty lies in including four indicators of corporate sustainable practices and socio‐economic institutional factors in Asian emerging nations, which are scanty in the empirical literature. The sample of the study consists of 1800 firm‐years observations. The study uses content analysis technique to compute the disclosure scores of corporate sustainability and Sustainable Development Goals. Employing panel data Tobit model and instrumental variable‐based two‐stage least square model for robustness check, the study finds that corporate sustainable practices play a significant role in improving the firms' disclosure of the Sustainable Development Goals. Further, institutional factors such as collectivism, greater motivation towards achievements, low levels of corruption, and a higher sustainable development index, positively impact firms' commitment to Sustainable Development Goals.