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

Martínez, María del Carmen Valls; Cervantes, Pedro Antonio Martín; Rambaud, Salvador Cruz

doi:10.1002/csr.1989

Cited by 50 publications

(34 citation statements)

References 99 publications

(208 reference statements)

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“…Therefore, the role of women on board is being enhanced for the improvement of profitability and firm social practices. Even, the United Nations (UN) 2030 plan also focuses on the role of women on board and firm top management [ 147 ].…”

Section: Discussionmentioning

confidence: 99%

The Moderating Role of Corporate Social Responsibility in the Association of Internal Corporate Governance and Profitability; Evidence from Pakistan

Javeed

Jiang

et al. 2021

IJERPH

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At present, climate and other environmental problems are arising because of the development of the industrial sector at a large level. The industrial sector is supposed to be a major cause of climate change problems that lead to global warming. Therefore, corporate social responsibility (CSR) with the help of corporate governance is an imperative approach to control these social problems. Consequently, in the context of the organizational and management theory, agency theory, and the stakeholder theory, this study focuses on important factors of internal corporate governance such as chief executive officer (CEO) power, the board size, independence, ownership concentration, managerial ownership, and audit quality for improving the profitability of firms. Moreover, this study considers corporate social responsibility as a controlling and moderating factor for firm performance and internal corporate governance. We employed ordinary least square (OLS) for endogeneity testing, fixed effect (FE), generalized method of moments (GMM), and feasible generalized least square (FGLS) on data of Pakistani firms for the period of 2010–2019. The results of this study demonstrate the following outcomes: firstly, all internal corporate governance factors are positively linked with firm performance; secondly, corporate social responsibility (CSR) is the most valuable tool for improving profitability. Importantly, this study suggests that all internal corporate governance factors are positively linked with firm performance because of the interactive role of corporate social responsibility (CSR). This study practically contributes to the literature by suggesting the imperative role of corporate social responsibility (CSR) for internal corporate governance, which may help to reduce climate and social problems.

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Section: Discussionmentioning

confidence: 99%

The Moderating Role of Corporate Social Responsibility in the Association of Internal Corporate Governance and Profitability; Evidence from Pakistan

Javeed

Jiang

et al. 2021

IJERPH

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“…As for the American companies for which is no quota, the percentage of women on the board is very low, about 21.70% (Global Gender Report 2020, World Economic Forum 2020). Research (Valls Martinez, Cervantes, & Cruz, 2020) provides empirical evidence that the percentage of women on the board is positive up a certain limit, after which its influence is negative both in American and European companies.…”

Section: Discussionmentioning

confidence: 99%

Gender diversity and corporate performance: Emphasis on sustainability performance

Provasi

Harasheh

2020

Corp Soc Responsibility Env

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In this research, we empirically investigate the impact of the board's female representation on corporate financial and sustainability performance after the introduction of the minimum gender quotas in Italy in 2011 (Golfo‐Mosca Law). We studied the 40 companies of the FTSE‐MIB index for 3 years 2016–2018. Using yearly regression analysis, pooled analysis, and differential analysis, we find that the female involvement on both boards has almost no significant effect on the financial performance; however, a significant association is found with the corporate sustainability performance. The robustness checks using differential analysis confirm the later relationship in which firms that improved female representation had also an ethical score upgrade. Interestingly, we also provide that there is an optimal level of gender quotas that maximizes sustainability performance and beyond that, a negative impact on performance might be detected.

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“…Moreover, it is argued that board members determine the firm's strategies (Terjesen et al, 2009). Thereby, its composition is a crucial point in the level of corporate environmental performance (Valls Martínez et al, 2020). Accordingly, female presence on boardroom can be seen as a pivotal resource that plays a considerable role in reinforcing corporate environmental strategies and policies (Xie et al, 2020).…”

Section: Gender Diversity and Environmental Performance Relationshipmentioning

confidence: 99%

Boardroom gender diversity and corporate environmental performance: a multi-theoretical perspective in the MENA region

Issa

Zaid

2021

IJAIM

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Purpose Drawing on the multi-theoretical perspective, the primary purpose of this paper is to empirically investigate the inextricably entwined nexus between board gender diversity and corporate environmental performance within cross-country context. Design/methodology/approach Multiple regression analysis on a cross-country panel data analysis was used. Further, the authors applied static panel data estimator ordinary least squares (OLS) as a baseline model with different proxies of gender diversity. In addition, to control for the potential endogeneity problem and providing robust findings, the authors run two-stage least squares (2SLS) and lagged independent variables. Findings The findings clearly unveiled that corporate environmental performance is positively and significantly affected by the level of gender diversity on board. This inextricable and intimate nexus is vastly attributed to the argument that female directors show greater concerns for eco-friendly activities. Practical implications The findings of this study provide useful and fruitful insights for regulatory parties and policymakers to mandate gender quota in electing boardroom members to ameliorate corporate environmental performance. Originality/value To the best of the authors’ knowledge, most of the prior studies have not yet provided a multi-theoretical analysis of the effect of board gender diversity on environmental performance. Thereby, this study handled this contemporary gap and went beyond the narrow perspectives by diving deep with cross-country analysis.

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

Cited by 50 publications

References 99 publications

The Moderating Role of Corporate Social Responsibility in the Association of Internal Corporate Governance and Profitability; Evidence from Pakistan

The Moderating Role of Corporate Social Responsibility in the Association of Internal Corporate Governance and Profitability; Evidence from Pakistan

Gender diversity and corporate performance: Emphasis on sustainability performance

Boardroom gender diversity and corporate environmental performance: a multi-theoretical perspective in the MENA region

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