Do corporate governance mechanisms and <scp>ESG</scp> disclosure drive <scp>CSR</scp> narrative tones?

This study explores the underlying drivers of tone corporate social responsibility (CSR) narratives by considering four governance mechanisms and examining whether there is a relationship between environmental, social, (ESG) disclosure CSR narrative based on sample UK firms from 2008 to 2017. The results show that more independent directors would lead less optimistic language (positive tone) pessimistic (negative in report. also higher ESG score leads positive tone. However, gender diversity has impact positivity when medium or high board size exceeds 10 members. These findings are relevant for policymakers, investors, firm managers. For instance, inform regulators policymakers about affect reports.