The Impact of Country Characteristics on Board Gender Diversity and Sustainability Performance: A Global Perspective

Terri Trireksani, Hadrian Geri Djajadikerta (), Muhammad Kamran and Pakeezah Butt
Additional contact information
Terri Trireksani: Murdoch Business School, Murdoch University, Perth, WA 6150, Australia
Hadrian Geri Djajadikerta: School of Accounting, Economics and Finance, Curtin University, Perth, WA 6102, Australia
Muhammad Kamran: Powerledger, Perth, WA 6000, Australia
Pakeezah Butt: Curtin College, Perth, WA 6102, Australia

Sustainability, 2024, vol. 16, issue 7, 1-25

Abstract: This study assesses the role of country characteristics on the association between board gender diversity and sustainability performance. It evaluates the significance and relevance of country characteristics in capturing the contextual sensitivity of the relationship between board gender diversity and sustainability performance. Using a sample of 5087 firms from 50 countries, the study establishes that the presence of females on corporate boards enhances sustainability performance. However, the strength of this relationship is contingent on the characteristics of the country within which a firm operates. Specifically, the positive relationship between board gender diversity and sustainability performance is more pronounced in countries with higher cultural orientations on individualism, uncertainty avoidance, indulgence, and femininity. More substantial financial development, an application of civil law and legal systems and weaker economic conditions in a country also facilitate female directors in enhancing sustainability performance. The study provides deeper insights into how country factors interact with gender on the board factor in leading the sustainability performance of firms.

Keywords: board gender diversity; sustainability performance; country characteristics (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/16/7/3057/pdf (application/pdf)
https://www.mdpi.com/2071-1050/16/7/3057/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:16:y:2024:i:7:p:3057-:d:1371132

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().