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Investigating the relationship between environmental and social disclosures and anti-corruption disclosure: the role of corporate governance. Evidence from France

Roua Radhouani & Aymen Ajina

Journal of Financial Regulation and Compliance2026https://doi.org/10.1108/jfrc-06-2025-0189article
AJG 1ABDC B
Weight
0.50

Abstract

Purpose This paper aims to examine how environmental and social (E&S) disclosures influence ACD in France, explores the role of corporate governance (board independence, board size and executive directors) and evaluates the impact of the Grenelle II Law, a French regulation promoting corporate sustainability and transparency. Design/methodology/approach The authors analyze 142 French listed firms over 2010–2020 using panel regressions and a 150-keyword content analysis to measure ACD. A Difference-in-differences approach assesses how the Grenelle II Law affected the relationship between E&S disclosures and ACD. Findings Results show a positive association between E&S and ACD: firms more transparent in E&S reporting also disclose more on anti-corruption. Board independence and size further enhance ACD, and the E&S–ACD relationship strengthens following the full implementation of the Grenelle II Law. Practical implications Integrating E&S strategies can increase ACD and stakeholder trust. Strong corporate governance, particularly independent and larger boards, supports transparency, providing guidance for policymakers to align sustainability and anti-corruption practices and helping investors assess firm ethics and governance. Originality/value This study is among the first to investigate how E&S disclosures and governance influence ACD in France, a leading country in sustainability regulation. It highlights the effect of the Grenelle II Law on improving corporate transparency and introduces a novel 150-keyword content analysis tool for ACD.

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https://doi.org/https://doi.org/10.1108/jfrc-06-2025-0189

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@article{roua2026,
  title        = {{Investigating the relationship between environmental and social disclosures and anti-corruption disclosure: the role of corporate governance. Evidence from France}},
  author       = {Roua Radhouani & Aymen Ajina},
  journal      = {Journal of Financial Regulation and Compliance},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1108/jfrc-06-2025-0189},
}

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.