Advisory or monitoring role in ESG scenario: Which women directors are more influential in the Italian context?

Cambrea, Domenico Rocco; Paolone, Francesco; Cucari, Nicola

doi:10.1002/bse.3366

Cited by 59 publications

(24 citation statements)

References 134 publications

(190 reference statements)

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“…The critical mass theory suggests that having multiple women on the board, rather than just one or a few, is necessary for them to have a significant influence on decision-making (Cambrea et al, 2023). According to this theory, it is only when the number of women reaches a specific threshold, typically three or more, that they are able to counteract the Reducing ESG controversies dominant culture and power dynamics of the board and make their voices heard on an equal footing to male board members (Joecks et al, 2013;Torchia et al, 2011).…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Breaking the glass ceiling for a sustainable future: the power of women on corporate boards in reducing ESG controversies

Issa

Hanaysha

2023

IJAIM

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Purpose This study aims to investigate the relationship between board gender diversity and environmental, social and governance (ESG) controversies and to determine if a critical mass of female directors has a significant impact on ESG performance. Design/methodology/approach The study analyzes a sample of non-financial companies from 13 European countries between 2004 and 2021. The primary method used to reach conclusions was the pooled ordinary least squares regression. Additionally, the study used supplementary techniques such as alternative measurement, sub-sample analysis and two-stage least squares to enhance its reliability. Findings The results indicate that a higher representation of women on boards is correlated with a reduction in the number of ESG controversies, particularly when there are three or more female directors. Furthermore, the relationship between board gender diversity and ESG controversies may be affected by factors such as industry, governance and a company’s environmental performance. Practical implications This study suggests that increasing women’s representation on boards may mitigate ESG controversies and improve firm reputation and performance, especially in industries with high ESG risks. Policymakers can support this through policies, targets, training and inclusive practices. The findings also inform investors and stakeholders of the relationship between board gender diversity and ESG controversies. Originality/value This study expands the understanding of the relationship between board gender diversity and sustainable accounting and finance. It focuses on the effect that having female board members has on corporate policies, which is significant for shaping global policies that promote diversity on boards.

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Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Breaking the glass ceiling for a sustainable future: the power of women on corporate boards in reducing ESG controversies

Issa

Hanaysha

2023

IJAIM

View full text Add to dashboard Cite

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“…Social role theory suggests that female directors care more about public behavior (Elsesser & Lever, 2011). Boards with more female directors are more concerned with external corporate issues, such as environmental and social responsibility issues (Cambrea et al, 2023; Liu et al, 2020). Matsa and Miller (2013) suggest that female directors are more concerned with stakeholder and long‐term interests than male directors.…”

Section: Theoretical Analysis and Hypothesesmentioning

confidence: 99%

Greenwashing behavior and firm value – From the perspective of board characteristics

Chen

Dagestani

2023

Corp Soc Responsibility Env

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With increasing environmental pressures on companies, they are beginning to disclose corporate social responsibility reports actively. However, some studies point to greenwashing in corporate social reporting as a cause for concern. Our study aims to uncover the board's role in the relationship between greenwashing and firm value. Using a two‐way fixed effects model and a series of robustness tests, our findings suggest that greenwashing increases firm value. We introduce board diversity to answer the question of who is driving greenwashing behavior. Female directors, age diversity, educational background, and shareholder aggregation inhibit greenwashing behavior, while local directors and political connections promote this effect. Greenwashing increases firm value by improving the quality of disclosure, stakeholder concerns and alleviating financing constraints. Finally, greenwashing has greater economic performance for heavily polluting firms, firms audited by the Big 4 and firms with mandatory disclosure. This study provides rich empirical findings for boards and greenwashing behavior, offering novel theoretical insights to promote substantive CSR and board governance in developing countries such as China.

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“…Third, prior research suggests that the higher the corporate governance, the more likely the firm is to be involved in ESG (Aluchna et al, 2022; Cambrea et al, 2023; Fang et al, 2023), so we controlled for female directors and institutional equity . Female directors, and institutional investors promote ESG engagement by improving the quality of corporate governance (Cambrea et al, 2023; Sahasranamam et al, 2022). In addition, we also controlled for social trust , which is seen as an important external corporate governance force (Ren et al, 2022).…”

Section: Empirical Designmentioning

confidence: 99%

Differentiation strategies and firms' environmental, social and governance: The different moderating effects of historical and social performance shortfalls

Ren,

Zeng,

Zhong

2023

Corp Soc Responsibility Env

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Whether and when differentiation strategies affect firms' environmental, social and governance (ESG) involvement remains unclear. Based on resource‐based view and behavioral theory of the firm, we propose that as the degree of differentiation strategies increases, firms' motivation to engage in ESG increases. Additionally, we propose that performance shortfalls moderate the relationship between differentiation strategies and a firm's ESG involvement. Specifically, we argue that historical performance shortfalls enhance this relationship, whereas social performance shortfalls weaken it. Using a large longitudinal dataset constructed from empirical data on Chinese listed companies from 2011 to 2020, we find strong support for these theoretical arguments. This study extends the differentiation strategies, and ESG literature by providing the first large sample of evidence that differentiation strategy is a key factor in facilitating firms' ESG involvement. The findings of this study also help firms to enhance their ESG practices by revisiting their existing strategies and relative performance.

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Advisory or monitoring role in ESG scenario: Which women directors are more influential in the Italian context?

Cited by 59 publications

References 134 publications

Breaking the glass ceiling for a sustainable future: the power of women on corporate boards in reducing ESG controversies

Breaking the glass ceiling for a sustainable future: the power of women on corporate boards in reducing ESG controversies

Greenwashing behavior and firm value – From the perspective of board characteristics

Differentiation strategies and firms' environmental, social and governance: The different moderating effects of historical and social performance shortfalls

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