The globalised board of directors and corporate environmental performance: evidence from China

Xingqiang Du, Jingwei Yin, Ying Zhang and Yingjie Du

China Journal of Accounting Studies, 2020, vol. 8, issue 4, 495-527

Abstract: This study examines the association between the globalised board of directors and corporate environmental performance, and then investigates the moderating effect of regional green development on the above association. Using a sample from the Chinese stock market during the period of 2008–2016, the findings reveal that the globalised board of directors is significantly positively associated with corporate environmental performance, suggesting that the globalised board of directors can play an important role in strengthening the moral and strategic motivations of corporate environmental responsibility, and enhance corporate environmental performance. Further, regional green development attenuates the positive relation between the globalised board of directors and corporate environmental performance. Above findings are robust to a variety of sensitivity tests and our main conclusions are still valid after controlling for the potential endogeneity between the globalised board of directors and corporate environmental performance. Interestingly, additional tests reveal that the positive effect of foreign directors on corporate environmental performance is more pronounced for those from the countries (regions) with shorter time zone difference, stronger investor protection and better performance in environmental responsibilities.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:taf:rcjaxx:v:8:y:2020:i:4:p:495-527

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DOI: 10.1080/21697213.2021.1966175

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