-
Journal menu
- General information
- Editorial Board and External Reviewers
- Instructions for authors
- Paper reviewing
- Publication Ethics and Malpractice Statement
- Journal Policies
- Order hard copies of the journal (for institutions)
- Order hard copies of the journal (for individuals)
- Article Processing Charge
- Feedback from stakeholders
- Journal’s Open Access Statement
- Statement on the Use of Generative AI
The impact of CEO succession and corporate governance on climate change disclosure
Download This Article
Budi Chandra 
, Mardianto , Robin , Tan Hardi
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
This study examines how chief executive officer (CEO) succession and corporate governance shape climate change disclosure (CCD). The relevance of this research arises from the increasing regulatory and stakeholder demand for credible climate-related reporting and the limited evidence on how internal governance dynamics determine disclosure behavior. Using 1,097 firm-year observations from manufacturing firms listed on the Indonesia Stock Exchange (IDX) between 2020 and 2023, this study employs panel regression, complemented by coarsened exact matching (CEM) and generalized least squares (GLS) to ensure robustness. The results reveal contrasting effects between the two variables as CEO succession demonstrates a significantly negative impact on CCD, indicating that leadership transitions may disrupt disclosure practices and reduce a firm’s attention to climate-related reporting. The corporate governance index (CGI) exhibits a significant positive effect on CCD, suggesting that firms with stronger governance structures are more committed to transparent climate disclosure. These findings highlight the differing roles of leadership stability and governance quality. Moreover, CCD is significantly and positively associated with firm performance, indicating that transparent climate reporting enhances profitability and stakeholder confidence.
Keywords: CEO Succession, Climate Change Disclosure, Corporate Governance, Firm Performance
Authors’ individual contribution: Conceptualization — B.C.; Methodology — B.C. and M.; Formal Analysis — M. and R.; Investigation — B.C. and T.H.; Resources — B.C., M., and T.H.; Writing — Original Draft — B.C.; Writing — Review & Editing — B.C., M., R., and T.H.
Declaration of conflicting interests: The Authors declare that there is no conflict of interest.
JEL Classification: G34, M14, Q56
Received: 20.10.2025
Revised: 27.11.2025; 04.12.2025; 09.01.2026
Accepted: 20.01.2026
Published online: 23.01.2026
How to cite this paper: Chandra, B., Mardianto, Robin, & Hardi, T. (2026). The impact of CEO succession and corporate governance on climate change disclosure. Corporate Governance and Sustainability Review, 10(1), 145–159. https://doi.org/10.22495/cgsrv10i1p13
