Board gender diversity and environmental performance: a semi-parametric panel data analysis

Rey Đặng, Majdi Karmani, L'Hocine Houanti (), Michel Simioni () and Ilyes Abid
Additional contact information
Rey Đặng: ISTEC - Institut supérieur des Sciences, Techniques et Economie Commerciales - ISTEC
Majdi Karmani: Excelia Group | La Rochelle Business School
L'Hocine Houanti: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Michel Simioni: UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement
Ilyes Abid: ISC Paris - Institut Supérieur du Commerce de Paris

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Abstract: Using Baltagi and Li's (2002) semi-parametric panel fixed effects model, this article investigates the effect of board gender diversity (BGD) on a firm's environmental performance (EP) in a sample of firms from the 2020 Fortune 1000 Index over the 2004–2020 period. We address the endogeneity issue via a control function. Contrary to the existing literature, we find an inverted U-shaped BGD-EP relationship with a turning point. Similarly, we show that this relationship is endogenous and dynamic by nature. Overall, we find a curvilinear relationship (inverted U-shape) between BGD and EP, thereby supporting the "too-much-of-a-good-thing" (TMGT) effect (Pierce and Aguinis, 2013).

Keywords: Board gender diversity; Corporate social performance; Environmental performance; Semi-parametric regression; Panel data (search for similar items in EconPapers)
Date: 2023-05
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Citations: View citations in EconPapers (1)

Published in Finance Research Letters, 2023, 58 (Part A), pp.104032. ⟨10.1016/j.frl.2023.104032⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04106411

DOI: 10.1016/j.frl.2023.104032

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