Financing Businesses for Sustainable Growth: Economic, Social, and Environmental Drivers With A Gender Approach

José Manuel Santos‐Jaén, Patricia P. Iglesias‐Sanchez, Meda Nataliia and Carlos de las Heras Jambrino

Sustainable Development, 2025, vol. 33, issue 5, 7895-7909

Abstract: This study examines the relationship between Environmental, Social, and Governance (ESG) practices and financial performance, incorporating a gender perspective. While ESG frameworks enhance investment attractiveness, the role of female leadership remains underexplored. Using a sample of EuroStoxx 300, the data was analyzed using Partial Least Squares Structural Equation Modeling (PLS‐SEM). The study assessed financial capital, investment attractiveness, and sustainability performance with gender representation as a moderating variable. The results confirm a positive relationship between financial capital and economic/social efficiency, while environmental efficiency presents mixed effects. Female board representation strengthens the link between investment attractiveness and financial capital. These findings contribute to the literature by integrating gender as a strategic factor in ESG‐financing research and highlight the practical implication that companies should promote gender‐diverse leadership to maximize the financial and strategic benefits of sustainable practices.

Date: 2025
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https://doi.org/10.1002/sd.3560

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Persistent link: https://EconPapers.repec.org/RePEc:wly:sustdv:v:33:y:2025:i:5:p:7895-7909

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