The role of women on boards in corporate environmental strategy and financial performance: A global outlook

Xie, Jun; Nozawa, Wataru; Managi, Shunsuke

doi:10.1002/csr.1945

Cited by 71 publications

(57 citation statements)

References 69 publications

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“…Multiple studies have shown that board gender diversity plays an essential role in a company's environmental performance [50,73]. These studies are based on differences in behaviour between men and women.…”

Section: Board Gender Diversity and Environmental Performancementioning

confidence: 99%

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Environmental Performance of the Tourism Sector from a Gender Diversity Perspective

Torres

Gutiérrez-Fernández

Gallego-Sosa

2021

IJERPH

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The tourism sector is a driver of economic development characterised by its environmental impact. It is a prevalent part of the 2030 Agenda, given its potential to help meet the Sustainable Development Goals (SDGs). At the same time, board gender diversity is considered essential for companies to implement environmentally sustainable initiatives. However, analysis of the relationship between the role of women on boards and environmental performance has been neglected in the tourism literature. This paper adopts a novel approach to the study of this sector by analysing the relationship between gender diversity on the board of directors and companies’ environmental practices. A fixed effects model is estimated using an international sample of 120 listed tourism companies for the period 2002 to 2019. The results show that boards that are more gender diverse and have a greater female presence are associated with poorer environmental performance and a weaker implementation of policies and practices to reduce resource use and emissions. However, board gender diversity aids performance in environmental innovation.

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Section: Board Gender Diversity and Environmental Performancementioning

confidence: 99%

“…This relationship has been confirmed for samples from various countries and regions. Specifically, studies have been conducted in the United States [26,42,43,50,64,83], France [47], the United Kingdom [25], China [86], Australia [85], Europe [27,77,88] and globally [44,73,96].…”

Section: Board Gender Diversity and Environmental Performancementioning

confidence: 99%

Environmental Performance of the Tourism Sector from a Gender Diversity Perspective

Torres

Gutiérrez-Fernández

Gallego-Sosa

2021

IJERPH

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“…Shafiei and Maleksaeidi [68] confirmed the study's stated findings and concluded that females are more environmentally friendly than males. Xie et al [69] concluded that women as corporative board members are always keen to propose environmentally friendly policies to go-for carbon mitigating strategies. Islam and Managi [70] stressed the need to spread environmental knowledge to improve pro-environmental behavior in the commodity resource market worldwide.…”

Section: Resultsmentioning

confidence: 99%

Ecofeminism and Natural Resource Management: Justice Delayed, Justice Denied

2021

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Women have a right to excel in all spheres of activity. However, their roles are mainly confined in the resource extraction industry due to masculinity bias. African women are considered exemplary cases where women have low access to finance and economic opportunities to progress in the natural resource industry. This study examines the role of women’s autonomy in mineral resource extraction by controlling ecological footprints, financial development, environmental degradation, economic growth, and changes in the general price level in the Democratic Republic of the Congo data from 1975–2019. The autoregressive distributed lag estimates show that in the short-run, women’s autonomy decreases mineral resource rents; however, this result disappears in the long-run and the positive role of women’s autonomy in increasing resource capital is confirmed. Ecological footprints are in jeopardy from saving mineral resources both in the short- and long-term. Financial development negatively impacts mineral resource rents, while women’s access to finance supports the mineral resource agenda. The positive role of women in environmental protection has led to increased mineral resource rents in the short- and long-term. Women’s social and economic autonomy increases mineral resource rents in the short-term, while it has evaporated in the long-term. The Granger causality has confirmed the unidirectional linkages running from women’s green ecological footprints, access to finance, and women participating in environmental protection to mineral resource rents in a country. The variance decomposition analysis has shown that women’s economic autonomy and access to finance will exert more significant variance shocks to mineral resource rents over the next ten years’ period. The results conclude the positive role of women’s freedom in the mineral resource sustainability agenda. Thus, there is a high need to authorize women through access to finance and economic decisions to restore natural resource capital nationwide.

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“…In addition, some empirical studies find no relationship (Glass, Cook, & Ingersoll, 2016; Post, Rahman, & Rubow, 2011; Walls, Berrone, & Phan, 2012). However, most studies demonstrate the positive influence of women on CSR performance (Xie, Nozawa, & Managi, 2020; Aslam, Abdul, Makki, Mahmood, & Amin, 2018; Charumathi & Rahman, 2019; Isidro & Sobral, 2015; Liao, Zhang, & Wang, 2019; Manita, Bruna, Dang, & Houanti, 2018; Setó‐Pamies, 2015; Valls Martínez et al, 2019; Zhang, Zhu, & Ding, 2013).…”

Section: Literature Review and Theoretical Frameworkmentioning

confidence: 99%

Women on corporate boards and sustainable development in the American and European markets: Is there a limit to gender policies?

Martínez

Cervantes

Rambaud

2020

Corp Soc Responsibility Env

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Many European countries enacted laws to promote effective gender equality in management positions. Moreover, investors increasingly consider the sustainable valuation of companies in their portfolio selection. Previous research demonstrates the positive relationship between female directors and corporate social performance. The aim of this study is twofold: we examine the extent to which this relationship remains positive according to the level of gender diversity and compare the behaviour in American and European markets, considering that the US has no gender quota. We apply a panel data methodology, with fixed effects, to examine companies listed in the S&P 500 and Euro Stoxx 300 indices during 2015-2019. The results show the increasing influence of women directors up to a limit, both in the American and European markets, and this influence is higher in Europe. This result implies that gender-diverse boards are favourable to the sustainable behaviour of companies. Therefore, policymakers should promote gender policies.

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The role of women on boards in corporate environmental strategy and financial performance: A global outlook

Cited by 71 publications

References 69 publications

Environmental Performance of the Tourism Sector from a Gender Diversity Perspective

Environmental Performance of the Tourism Sector from a Gender Diversity Perspective

Ecofeminism and Natural Resource Management: Justice Delayed, Justice Denied

Women on corporate boards and sustainable development in the American and European markets: Is there a limit to gender policies?

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