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Executive Gender and Firm Environmental Management: Evidence from CFO Transitions

Bo Wang (), Zehui Wang (), Jun Wen () and Xiaotian Tina Zhang ()
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Bo Wang: Stuart School of Business, Illinois Institute of Technology, Chicago, IL 60661, USA
Zehui Wang: Software College of Northeastern University, Shenyang 110169, China
Jun Wen: School of Economics and Finance, Xi’an Jiaotong University, Xi’an 710049, China
Xiaotian Tina Zhang: Department of Finance, School of Economics and Business Administration, Saint Mary’s College of California, Moraga, CA 94556, USA

Sustainability, 2021, vol. 13, issue 7, 1-14

Abstract: We investigate whether female executives influence corporate environmental management (green management). Based on a difference-in-difference approach, our study provides evidence that female CFOs conduct more environmentally responsible activities, and the effects are more prominent when firms are of high risks. Female CFOs are more likely to involve in environmental management voluntarily. Further, environmental management improves firm performance such as debt cost saving. This research advances the gender diversity literature and suggests that female executives play an important role in corporate decisions and firm performance.

Keywords: CFO; corporate social responsibilities; environmental management; executive gender; firm performance; female; green management (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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