Board Characteristics and Stakeholder Engagement and ESG Performance: The Relevance of European Gender Parity

IF 8.3 2区管理学 Q1 BUSINESS

Corporate Social Responsibility and Environmental Management Pub Date : 2025-01-21 DOI:10.1002/csr.3082

Alfredo Grau-Grau, Manuel Branco, Inmaculada Bel-Oms

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Abstract

The main goal of this study is to explore the effect of country-level gender parity with a board characteristics and stakeholder engagement on ESG performance in sustainable companies. The sample comprises 940 sustainable international sustainable firm-year observations from the following 13 countries: Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and United Kingdom for the period 2013–2022. The results provide evidence that country-level gender parity moderate negatively the effect of board gender diversity and busy directors on boards and ESG performance. Furthermore, the findings also show that country-level gender parity moderate positively the effect of stakeholder engagement and ESG performance. When the ESG performance is separate in the three pillars, the results find that country-level gender parity moderate negatively the effect of board gender diversity and busy directors on boards and governance performance while this effect is positively in the association between stakeholder engagement and governance performance. These results suggest that the governance pillar influence notably in the ESG performance. This study contributes to the scant research exploring the variation in the relationships between boards of directors' characteristics and ESG performance by focusing on one seldom explored of such sources, gender parity.

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董事会特征、利益相关者参与和ESG绩效：欧洲性别平等的相关性

本研究的主要目的是探讨国家层面的董事会性别平等和利益相关者参与对可持续发展公司ESG绩效的影响。样本包括来自以下13个国家（丹麦、芬兰、法国、德国、爱尔兰、意大利、荷兰、挪威、葡萄牙、西班牙、瑞典、瑞士和英国）2013-2022年期间的940个可持续的国际公司年观察结果。研究结果表明，国家层面的性别平等调节了董事会性别多样性和忙碌董事对董事会和ESG绩效的负向影响。此外，研究结果还表明，国家层面的性别平等对利益相关者参与和ESG绩效的影响具有正向调节作用。当ESG绩效在三个支柱中分离时，结果发现，国家层面的性别平等对董事会性别多样性和忙碌董事对董事会和治理绩效的影响具有负向调节作用，而这种影响在利益相关者参与和治理绩效之间呈正相关。这些结果表明，治理支柱对ESG绩效的影响显著。本研究通过关注性别平等这一很少被探索的来源，为探索董事会特征与ESG绩效之间关系变化的研究做出了贡献。

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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.