The European Parliament passed the Non-Financial Reporting Directive (NFRD) with the intent to “encourage firms to identify and manage ESG risk” and “provide more transparent and relevant information …intended to empower stakeholders” (EU Directive 2014/95/EU). In my dissertation, I examine whether this change in the information environment is associated with a change in discretionary compensation as a result of decision-useful information conveyed in the mandated Environmental, Social, and Governance (ESG) disclosures. While I expected that new ESG information (Resist) would experience cross-setting changes, my results show that the impact of the mandate is more nuanced. I find herein that the results varied according to the respective countries’ disposition on the mandate and ESG overall. I found that countries that had no prior mandate experienced lower discretionary compensation weights associated with ESG metrics. Association with decreases in both long term and short-term compensation weights proved stronger for firms in countries that specifically argued in opposition to NFRD. I also find that firms in opposition countries are less likely to enact ESG compensation policies. These findings could be useful to regulators as they broaden ESG mandated information across global markets.
","abstract_html":"<p>The European Parliament passed the Non-Financial Reporting Directive (NFRD) with the intent to “encourage firms to identify and manage ESG risk” and “provide more transparent and relevant information …intended to empower stakeholders” (EU Directive 2014/95/EU). In my dissertation, I examine whether this change in the information environment is associated with a change in discretionary compensation as a result of decision-useful information conveyed in the mandated Environmental, Social, and Governance (ESG) disclosures. While I expected that new ESG information (<em>Resist)</em> would experience cross-setting changes, my results show that the impact of the mandate is more nuanced. I find herein that the results varied according to the respective countries’ disposition on the mandate and ESG overall. I found that countries that had no prior mandate experienced lower discretionary compensation weights associated with ESG metrics. Association with decreases in both long term and short-term compensation weights proved stronger for firms in countries that specifically argued in opposition to NFRD. I also find that firms in opposition countries are less likely to enact ESG compensation policies. These findings could be useful to regulators as they broaden ESG mandated information across global markets.</p>","abstract_has_math":false,"creators":["LaCondre Nugent, Dana"],"institution":"The Graduate School and University Center of The City University of New York","degree_name":"Doctor of Philosophy","degree_level":"Doctoral","degree_discipline":"Business","degree_department":null,"school":null,"contributors":[],"advisors":["Paquita Davis-Friday"],"committee_chairs":[],"committee_members":["Mehmet Ozbilgin","Svenja Dube","Punit Arora"],"year":2024,"date_issued":"2024-06-01T07:00:00Z","date_published":"2024-06-01T07:00:00Z","updated_at":"2026-07-24T01:59:14Z","subjects":["Accounting","Business Administration, Management, and Operations","compensation","corporate governance","regulation","ESG disclosure","corporate social responsibility"],"languages":[],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"https://academicworks.cuny.edu/gc_etds/5801","outbound_label":"Repository record","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.advisor","label":"Advisor","values":["Paquita Davis-Friday"]},{"key":"dc:contributor.committeemember","label":"Committee Member","values":["Mehmet Ozbilgin","Svenja Dube","Punit Arora"]},{"key":"dc:creator","label":"Author","values":["LaCondre Nugent, Dana"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.available","label":"Dc Date Available","values":["2026-06-01T07:00:00Z"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Business"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Doctoral"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Doctor of Philosophy"]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["The Graduate School and University Center of The City University of New York"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Accounting","Business Administration, Management, and Operations","compensation","corporate governance","regulation","ESG disclosure","corporate social responsibility"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["https://academicworks.cuny.edu/gc_etds/5801"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["The European Parliament passed the Non-Financial Reporting Directive (NFRD) with the intent to “encourage firms to identify and manage ESG risk” and “provide more transparent and relevant information …intended to empower stakeholders” (EU Directive 2014/95/EU). In my dissertation, I examine whether this change in the information environment is associated with a change in discretionary compensation as a result of decision-useful information conveyed in the mandated Environmental, Social, and Governance (ESG) disclosures. While I expected that new ESG information (Resist) would experience cross-setting changes, my results show that the impact of the mandate is more nuanced. I find herein that the results varied according to the respective countries’ disposition on the mandate and ESG overall. I found that countries that had no prior mandate experienced lower discretionary compensation weights associated with ESG metrics. Association with decreases in both long term and short-term compensation weights proved stronger for firms in countries that specifically argued in opposition to NFRD. I also find that firms in opposition countries are less likely to enact ESG compensation policies. These findings could be useful to regulators as they broaden ESG mandated information across global markets.
"]},{"key":"dc:title","label":"Title","values":["Mandatory ESG Disclosure and Executive Compensation: Evidence from the Europe Union Non-Financial Reporting Directive"]}]}],"canonical_facts":{"dc:contributor.advisor":["Paquita Davis-Friday"],"dc:contributor.committeemember":["Mehmet Ozbilgin","Svenja Dube","Punit Arora"],"dc:creator":["LaCondre Nugent, Dana"],"dc:date.available":["2026-06-01T07:00:00Z"],"dc:description.abstract":["The European Parliament passed the Non-Financial Reporting Directive (NFRD) with the intent to “encourage firms to identify and manage ESG risk” and “provide more transparent and relevant information …intended to empower stakeholders” (EU Directive 2014/95/EU). In my dissertation, I examine whether this change in the information environment is associated with a change in discretionary compensation as a result of decision-useful information conveyed in the mandated Environmental, Social, and Governance (ESG) disclosures. While I expected that new ESG information (Resist) would experience cross-setting changes, my results show that the impact of the mandate is more nuanced. I find herein that the results varied according to the respective countries’ disposition on the mandate and ESG overall. I found that countries that had no prior mandate experienced lower discretionary compensation weights associated with ESG metrics. Association with decreases in both long term and short-term compensation weights proved stronger for firms in countries that specifically argued in opposition to NFRD. I also find that firms in opposition countries are less likely to enact ESG compensation policies. These findings could be useful to regulators as they broaden ESG mandated information across global markets.
"],"dc:identifier":["https://academicworks.cuny.edu/gc_etds/5801"],"dc:subject":["Accounting","Business Administration, Management, and Operations","compensation","corporate governance","regulation","ESG disclosure","corporate social responsibility"],"dc:title":["Mandatory ESG Disclosure and Executive Compensation: Evidence from the Europe Union Non-Financial Reporting Directive"],"thesis:degree_discipline":["Business"],"thesis:degree_level":["Doctoral"],"thesis:degree_name":["Doctor of Philosophy"],"thesis:institution_name":["The Graduate School and University Center of The City University of New York"]},"updated_at":"2026-07-24T01:59:14Z"}