Moussa, T., Allam, A. and Elmarzouky, M. 2022. An examination of UK firms’ modern slavery disclosures: A gender socialisation theory perspective. European Accounting Conference 2022.
| Title | An examination of UK firms’ modern slavery disclosures: A gender socialisation theory perspective |
|---|---|
| Authors | Moussa, T., Allam, A. and Elmarzouky, M. |
| Type | Conference paper |
| Abstract | The United Nations’ Sustainable Development Goals highlight the significance of governments in shaping a firm’s sustainability agenda and combating modern slavery (MS). However, little is known about modern slavery disclosure (MSD) and its association with corporate board characteristics. Based on a content analysis of FTSE100 companies’ MS statements between 2016 – 2020, we developed an index to measure the extent to which disclosure levels meet the expectations set out in the UK Modern Slavery Act. We find that MSD improved over time; however, it is still relatively low. The results also show that companies pay less attention to the core practices of modern slavery, namely, key performance indicators, due diligence procedures, risk assessment and management, and training. These findings suggest that firms focus on symbolic structures like policies rather than disclosing substantive modern slavery practices such as KPIs and due diligence to minimise regulatory risks and/or to manage stakeholders’ perceptions. The results also suggest that board gender diversity is significantly and positively associated with corporate modern slavery disclosure levels. These results indicate that companies with more female representation on the board tend to be more transparent about their strategies and actions related to fighting modern slavery. Furthermore, we find that boards with three or more women have a significant positive impact on MSD. Our findings give support to gender socialisation and critical mass theories as well as having significant implications for policymakers, companies, and stakeholders. |
| Keywords | Modern slavery disclosures |
| board gender diversity | |
| gender socialisation theory | |
| Year | 2022 |
| Conference | European Accounting Conference 2022 |