Executive Gender Diversity and Eco-Innovation in Brazil: The Moderating Role of Sustainable Compensation Policies

IF 9.1 2区管理学 Q1 BUSINESS

Corporate Social Responsibility and Environmental Management Pub Date : 2025-06-13 DOI:10.1002/csr.70014

Victor Daniel Vasconcelos, Maisa Souza de Ribeiro

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Abstract

This study investigates how executive gender diversity influences environmental innovation. It also explores the moderating role of sustainable compensation policies in this relationship. The sample of this study comprises 1035 observations of Brazilian firms from 2010 to 2023. The Feasible Generalized Least Squares (FGLS) econometric method was employed to test the two proposed hypotheses with data from the LSEG database. Besides, the two-stage least squares method (2SLS) was used for the endogenous test. The results report that the presence of female executives has no impact on environmental innovation. Furthermore, the results reveal that sustainable compensation policy positively moderates the relationship between executive gender diversity and eco-innovation. These findings suggest that compensation linked to environmental goals satisfies stakeholder demands for the adoption of environmentally friendly practices. The results indicate that policymakers should encourage regulations that incentivize sustainable compensation policies. Additionally, boards of directors should incorporate environmental criteria into executive compensation. Finally, investors should include sustainable compensation policies in their investment criteria, recognizing that they can encourage the implementation of eco-innovative practices.

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巴西高管性别多样性与生态创新：可持续薪酬政策的调节作用

本研究探讨高管性别多样性对环境创新的影响。本文还探讨了可持续薪酬政策在这种关系中的调节作用。本研究的样本包括2010年至2023年对巴西公司的1035个观察结果。采用可行广义最小二乘（FGLS）计量经济学方法，利用LSEG数据库的数据对这两个假设进行检验。采用两阶段最小二乘法（2SLS）进行内源检验。研究结果表明，女性高管的存在对环境创新没有影响。可持续薪酬政策正向调节高管性别多样性与生态创新之间的关系。这些发现表明，与环境目标挂钩的薪酬满足了利益相关者对采用环境友好做法的要求。研究结果表明，政策制定者应鼓励制定激励可持续薪酬政策的法规。此外，董事会应将环境标准纳入高管薪酬。最后，投资者应将可持续的补偿政策纳入其投资标准，认识到这些政策可以鼓励实施生态创新实践。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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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.