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Does board gender diversity affect renewable energy consumption?

Muhammad Atif, Mohammed Hossain, Md Samsul Alam and Marc Goergen

Journal of Corporate Finance, 2021, vol. 66, issue C

Abstract: This paper examines the effect of board gender diversity on renewable energy consumption. Using a panel of 11,677 firm-year observations from the USA for 2008–2016, we find a positive relationship between board gender diversity and renewable energy consumption. Moreover, boards require two or more women for women to have a significant impact on renewable energy consumption, consistent with the critical mass theory. Further, we document that the positive impact of female directors on renewable energy consumption stems from female independent rather than female executive directors. Finally, we find a positive effect of the interaction between renewable energy consumption and board gender diversity on firm financial performance. Our findings are robust to different identification strategies and estimation techniques.

Keywords: Corporate governance; Renewable energy; GBoard gender diversity; Corporate social responsibility; Environmental protection; Global warming (search for similar items in EconPapers)
JEL-codes: G30 G34 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:corfin:v:66:y:2021:i:c:s0929119920301097

DOI: 10.1016/j.jcorpfin.2020.101665

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