董事会多样性和任期对环境绩效的影响。来自家族企业和非家族企业的证据

IF 3.6 Q2 MANAGEMENT
Giovanna Gavana, Pietro Gottardo, Anna Maria Moisello
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引用次数: 0

摘要

本文的目的是通过分析家族企业与非家族企业之间以及家族企业内部的差异,来检验董事会结构和人口多样性以及董事会任期对家族企业环境绩效的影响。设计/方法/方法应用Tobit回归来研究独立董事、首席执行官非二元性、董事会性别多样性和董事会任期对环境绩效的影响。该研究还控制了董事会和公司的其他特征,以及时间、行业和国家固定的影响。在此过程中,作者依赖于2014年至2021年期间来自法国、德国、意大利、西班牙和葡萄牙的非金融上市公司样本。作者发现,董事会女性成员对环境绩效有积极影响,这种影响仅在家族企业中显著,尽管董事会任期负向调节了这种关系。董事会独立性仅在非家族企业中显著影响环境绩效。家族董事的存在对家族企业的环境绩效有负面影响,尤其是在董事流动率较低的情况下。本文考察了家族企业董事会结构多样性与环境绩效之间未被探索的关系。本研究为性别多样性与家族企业环境绩效之间的关系提供了经验证据,首次聚焦于欧洲环境。此外,本研究还提供了证据,证明董事会任期对家族企业和非家族企业的影响是不同的。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The effect of board diversity and tenure on environmental performance. Evidence from family and non-family firms
Purpose The aim of this paper is to examine the effect of structural and demographic board diversity as well as board tenure on family firms' environmental performance, by analyzing the differences between family and non-family businesses and within family firms. Design/methodology/approach Tobit regressions are applied to investigate the effect of independent directors, CEO non-duality, board gender diversity and board tenure on environmental performance. The study also controls for other board and firm characteristics, as well as for time, industry and country-fixed effects. In doing so, the authors rely on a sample of non-financial listed firms from France, Germany, Italy, Spain and Portugal over the period 2014–2021. Findings The authors find that women on the board positively influence environmental performance and this effect is significant only in family firms, although board tenure negatively moderates the relationship. Board independence significantly affects environmental performance only in non-family firms. A strong presence of family directors has a negative effect on family firms' environmental performance, especially when directors' turnover is low. Originality/value This paper examines the unexplored relationship between structural board diversity and environmental performance in family companies. This study provides empirical evidence on the association between gender diversity and family firms' environmental performance focusing for the first time on a European setting. Moreover, this study provides evidence of a different effect of board tenure in family and non-family businesses.
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来源期刊
CiteScore
5.50
自引率
33.30%
发文量
51
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