Does gender influence ESG reporting practices of agri-food companies? Evidence from Asian economies

Abstract ESG risks pose serious risks to the brand and viability of agri-food companies, making them more vulnerable than other industries that necessitates ESG reporting practices. However, this study evaluated the ESG reporting practices of agri-food companies, which were not the focus of previous research. The study investigates how ESG motivations and obstacles influence ESG reporting practices of agri-food companies in Asian countries. The study also evaluates the influence of gender as a moderator in ESG reporting practices of agri-food companies. To reach the objectives we used the quantitative method which comprised a quantitative investigation of 400 experts (100 from each country). The study used PLS-SEM to evaluate the influence of ESG motivations and obstacles in ESG reporting practices while PLS-MGA was used for examining the gender influence grounded in agency theory, stakeholder theory and legitimacy theory. The study revealed that ESG motivations and obstacles have a positive and significant influence on ESG reporting practices in agri-food companies. Motivations and challenges together account for 69.84% of the variation in ESG reporting practices of agri-food companies. ESG motivations have a high degree positive influence on ESG reporting practices compared to ESG obstacles. The study also revealed that as a moderator, gender has no significant influence in ESG reporting practices of agri-food companies. Legal structures provide a helpful basis for the development of ESG disclosure practices, and the level of ESG reporting in Asian agri-food companies is increasing gradually. For regulators, policymakers, and companies operating in developing countries, this study has important implications. Our work also has intriguing real-world applications for regulators, policymakers, and other players in the Asian market. The study suggests that authorities and policymakers should take proactive measures to strengthen the implementation of the ESG reporting assessment in order to enhance ESG reporting practices.