Top management team composition and SDG disclosure in Asian multinational enterprises: the moderating roles of home-country competitiveness and national SDG performance

Purpose Drawing on upper echelons and institutional theory, this study aims to examine how top management team (TMT) composition – gender diversity, educational background and national diversity – affects Sustainable Development Goals (SDG) disclosure by multinational enterprises (MNEs) in Asia. It also examines how home-country competitiveness (Home-Country Competitiveness (HCC)) and national SDG performance (Country-level Sustainable Development Goals performance (C-SDGs)) moderate these relationships. Design/methodology/approach The study uses a data set of 5,107 firm-year observations spanning the period from 2015 to 2023, encompassing MNEs across 16 Asian economies and 11 industry sectors. Firm-level SDG disclosure scores were developed through detailed content analysis. The authors used multilevel generalized linear mixed effects modeling to test the hypothesized relationships using Stata 18 (StataCorp LLC, College Station, TX). Findings TMT composition significantly influences SDG disclosures. Among the three diversity dimensions, educational and national diversity have a stronger impact than gender diversity. The moderating variables – HCC and C-SDGs – enhance the positive effects of TMT characteristics on SDG reporting. In addition, the positive influence of gender diversity is amplified when combined with higher levels of TMT education. Practical implications Both microlevel leadership attributes and macrolevel institutional environments are crucial for corporate sustainability transparency. Firms seeking to improve SDG disclosures should diversify TMTs and align strategies with their home country’s institutional context. Social implications Firms seeking to improve SDG disclosures should diversify TMTs and align strategies with their home country’s institutional context. Originality/value This study bridges organizational leadership traits with country-level institutional factors to explain variations in SDG disclosure among Asian MNEs, advancing research on corporate sustainability, governance and international business in emerging markets.