Abstract:
This study examines the impact of Corporate Governance (CG) on Corporate Social
Responsibility Disclosure of listed bank and finance firms in South Africa and Sri Lanka
over the period 2013-2017. A sample of 28 firms out of 43 and 45 out of 59 firms listed
on Johannesburg and Colombo Stock Exchange respectively was studied. The study
made use of secondary data generated from Annual Reports of the sampled firms. The
data was analysed by means of descriptive statistics, correlation and regression
analysis using Stata (version 12) package. The analysed CG attributes include Board
size; Board independence; audit committee independence and CEO duality and control
variables which are firm size and profitability (ROA). The important findings of this study
is that smaller Boards of Sri Lankan firms have a significance strong influence on
corporate social responsibility disclosure than the larger Boards of South Africa. While
CEO duality shows a significant negative effect on corporate social responsibility
disclosure. However, Audit committee independence indicates an insignificant
association with corporate social responsibility disclosure. Based on the findings, the
study recommends among others, that firms in the bank and finance sector should have
a competent size of five to 13 of board members, so as to encourage corporate social
responsibility disclosure
