Green board of directors and corporate resilience

Siyu Huang, Zhongwei Luan and Xinyan Xie

Finance Research Letters, 2025, vol. 81, issue C

Abstract: Using data from Chinese A-share listed firms on the Shanghai and Shenzhen Stock Exchanges from 2015 to 2023, this study empirically examines the impact of a board of directors' green background on corporate resilience and its underlying mechanisms. The results indicate that a green board of directors significantly enhances corporate resilience, a conclusion supported by robustness and endogeneity tests. The mechanism analysis reveals that a green board of directors can enhance corporate resilience through three primary channels: alleviating financing constraints, promoting environmental protection concepts, and stimulating green innovation.

Keywords: Green board of directors; Corporate resilience; Financing constraints; Environmental protection concept; Green innovation (search for similar items in EconPapers)
JEL-codes: G30 L20 O16 O31 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:81:y:2025:i:c:s1544612325007123

DOI: 10.1016/j.frl.2025.107453

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