委员会中女性代表和种族多样性对马来西亚环境、社会和治理绩效的影响

IF 3.1 Q2 BUSINESS
Shy Lih Wong
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引用次数: 0

摘要

目的本研究旨在探讨委员会(FOC)和委员会种族多样性(CED)中的女性如何影响环境、社会和治理绩效(ESGP)。设计/方法/方法本研究调查了2017年至2019年间马来西亚证券交易所富时ESG评级覆盖范围内的126家上市公司。本研究应用偏最小二乘结构方程建模(PLS-SEM)来检验假设。虽然使用多个数据源进行分析可以最大限度地降低常用方法方差的风险,但无工具变量方法,即SmartPLS 4.0中实施的高斯copula方法,已被用于解决模型的潜在内生性。研究结果经验证据表明,FOC与ESGP以及CED与ESGP之间存在显著的正直接关系。资源依赖理论和关于这两种直接关系的实证结果的论点是坚定的,尽管几个委员会被聚合为一个结构,目的是为文献提供不同的见解。实际含义本研究为企业领导层考虑通过增加女性代表性来审查委员会的组成提供了启示,同时在任命不同种族的委员会成员时取得平衡,以提高企业的ESGP,审计、提名、薪酬和风险管理委员会首次由女性代表。这些维度被进一步发展为一个单一的可量化变量,称为FOC。同样,各委员会的种族多样性被聚合并发展成一个单一的可量化结构:CED。与大多数常用计量经济学软件的现有研究不同,PLS-SEM在本研究中的应用有助于使用PLS-SEM的有限公司治理和ESG研究。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The impact of female representation and ethnic diversity in committees on environmental, social and governance performance in Malaysia
Purpose This study aims to explore how females on committees (FOC) and committee ethnic diversity (CED) impact environmental, social and governance performance (ESGP). Design/methodology/approach This study examines 126 listed firms under the coverage of FTSE ESG Ratings in Bursa Malaysia between 2017 and 2019. This study applies partial least squares structural equation modeling (PLS-SEM) to examine the hypotheses. While the risk of common method variance is minimised using multiple data sources for the analysis, instrumental variable-free approach, i.e. Gaussian copula method which is implemented in SmartPLS 4.0 has been used to address the potential endogeneity of the model. Findings Empirical evidence demonstrates significant positive direct relationships between FOC and ESGP, as well as CED and ESGP. The argument of resource dependence theory and positive empirical results on the two direct relationships hold firm despite several committees being aggregated as one construct with the aim of providing different insights into the literature. Practical implications This study provides implications for firm leadership to consider reviewing the composition of committees by increasing female representation while striking a balance in the appointment of committee members of different ethnicities to enhance firm ESGP. Originality/value To the best of the author’s knowledge, this study adopts a holistic approach by capturing, for the first time, the female representation of audit, nomination, remuneration and risk management committees. These dimensions are further developed into a single quantifiable variable, presented as FOC. Similarly, the ethnic diversity of the respective committees is aggregated and developed into a single quantifiable construct: the CED. Unlike most existing studies that commonly use econometric software, the application of PLS-SEM in this study contributes to the limited body of corporate governance and ESG studies that use PLS-SEM.
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来源期刊
CiteScore
5.60
自引率
18.80%
发文量
35
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