Female chief financial officers (CFOs) and environmental decoupling. The moderating impact of sustainability board committees

IF 8.3 2区管理学 Q1 BUSINESS

Corporate Social Responsibility and Environmental Management Pub Date : 2024-10-13 DOI:10.1002/csr.3003

Patrick Velte

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Abstract

This study analyses the link between chief financial officer (CFO) gender and environmental decoupling. Moreover, the moderator effect of sustainability board committees is tested. Based on upper echelons theory, a sample of listed firms headquartered in the European Union (2312 firm-year observations) from the business years 2017–22 is used. In line with the theoretical framework and based on correlation and regression analyses, CFO gender is significantly and negatively linked with environmental decoupling. The existence of sustainability board committees strengthens this relationship. The results are robust to various robustness tests and endogeneity checks. This study contributes to the increasing research activity on the influence of corporate governance on environmental decoupling. Future research should analyze specific environmental decoupling dimensions and the impact of other CFO characteristics (e.g., expertise) on environmental decoupling. Regarding the stakeholder concerns on corporate environmental decoupling in recent years, firms should increase the quality of their environmental reports to build up increased stakeholder relations. To the best of our knowledge, this is the first empirical study on the relationship between CFO gender and corporate environmental decoupling. Moreover, the moderator effect of sustainability board committees is included as an innovative complementary driver.

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本研究分析了首席财务官（CFO）性别与环境脱钩之间的联系。此外，还检验了可持续发展董事会委员会的调节效应。基于上层建筑理论，本研究采用了总部位于欧盟的上市公司作为样本（2312 个公司年观测值），时间跨度为 2017-22 年。根据理论框架并基于相关性和回归分析，首席财务官性别与环境脱钩存在显著负相关。可持续发展董事会委员会的存在加强了这种关系。研究结果经得起各种稳健性检验和内生性检验。关于公司治理对环境脱钩影响的研究日益增多，本研究为这方面的研究做出了贡献。未来的研究应分析具体的环境脱钩维度以及其他首席财务官特征（如专业知识）对环境脱钩的影响。关于利益相关者近年来对企业环境脱钩的关注，企业应提高环境报告的质量，以建立更多的利益相关者关系。据我们所知，这是第一项关于首席财务官性别与企业环境脱钩关系的实证研究。此外，可持续发展董事会委员会的调节效应也作为一种创新的补充驱动因素被纳入研究。

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来源期刊

Corporate Social Responsibility and Environmental Management Multiple-

CiteScore

17.20

自引率

16.30%

发文量

189

期刊介绍： Corporate Social Responsibility and Environmental Management is a journal that publishes both theoretical and practical contributions related to the social and environmental responsibilities of businesses in the context of sustainable development. It covers a wide range of topics, including tools and practices associated with these responsibilities, case studies, and cross-country surveys of best practices. The journal aims to help organizations improve their performance and accountability in these areas. The main focus of the journal is on research and practical advice for the development and assessment of social responsibility and environmental tools. It also features practical case studies and evaluates the strengths and weaknesses of different approaches to sustainability. The journal encourages the discussion and debate of sustainability issues and closely monitors the demands of various stakeholder groups. Corporate Social Responsibility and Environmental Management is a refereed journal, meaning that all contributions undergo a rigorous review process. It seeks high-quality contributions that appeal to a diverse audience from various disciplines.