Director appointments, boardroom networks, and firm environmental performance

Mingyuan Chen, Dakshina De Silva and Aurélie Slechten

No 332157256, Working Papers from Lancaster University Management School, Economics Department

Abstract: Using BoardEx (2000{2017), we create a dynamic network connecting firms and board directors for the United States. We use the Environmental Protection Agency's Toxic Release Inventory to measure environmental performance at the director and rm-level. We examine how a candidate's environmental performance and networks affect director appointments. This allows us to endogenize the effect of directors' environmental experience when studying the impact on firms' chemical releases. We show that firms are likely to appoint influential directors with good environmental records and similar characteristics. Further, boards with good environmental performance and with diverse environmental backgrounds improve firms' environmental performance.

Keywords: Network Formation; Firm Organization; Toxic Release; Board of directors (search for similar items in EconPapers)
JEL-codes: D85 L21 Q5 (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-env and nep-net
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Persistent link: https://EconPapers.repec.org/RePEc:lan:wpaper:332157256

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