Bridging Power and Policy: Political Connections as Moderators of <scp>CEO</scp> Traits and <scp>ESG</scp> Disclosure—A Resource Dependence and Upper Echelons Perspective

ABSTRACT This study aims to examine the relationship between CEO attributes (i.e., turnover, duality, and gender) and ESG disclosure through the lens of ‘Upper Echelons Theory (UET)’. Furthermore, this study investigates whether ‘political connections (PC)’ moderate this relationship, based on ‘Resource Dependence Theory (RDT)’, which sees PC as a strategic asset for external support and power. Using a dataset of 319 non‐financial listed firms with 3190 firm‐years from six ‘Gulf Cooperation Council (GCC)’ countries covering the period 2014–2023, a fixed panel data regression model and two‐step GMM are used to improve the robustness of the results. According to UET, CEO attributes have a significant impact on ESG disclosure levels. However, the moderating effect of a politically connected CEO as a strategic resource in RBT reduces the firm's reliance on ESG disclosures for legitimacy. Given that PCs already have reputational benefits, the link between CEO characteristics and ESG scores is weakening. This study offers useful insights for organisations, policymakers, and the general public. The finding emphasises the importance of leadership traits in sustainability strategies, as well as policymakers' oversight of politically connected CEOs, as such ties may reduce transparency and undermine ESG accountability. To the best of the authors' knowledge, this study is among the first that investigates how PC influences the relationship between CEO attributes and ESG reporting in the GCC context. It fills a gap in the literature by focusing on emerging economies, where economic transitions, sociocultural factors, and growing global relevance make understanding ESG practices increasingly important.