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The impact of the percentage of female directors on corporate ESG score

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  • Fan, Yiyi
  • Li, Shanshan
  • Yang, WenQi

Abstract

This study systematically analyzes the relationship between the percentage of female directors and ESG score using A-share listed companies from 2010 to 2021 as the research sample. The results show that the percentage of female directors is positively related to ESG score, green innovation plays a mediating role, and media attention plays a significant positive moderating role. Further research suggests that a higher percentage of female directors on boards with educational backgrounds, legal backgrounds, and independent directorships are associated with higher ESG score. The results of heterogeneity analysis indicates that the promotion effect of increasing the percentage of female directors on corporate ESG score is more significant in the separation of two positions and non-state-owned enterprises.

Suggested Citation

  • Fan, Yiyi & Li, Shanshan & Yang, WenQi, 2024. "The impact of the percentage of female directors on corporate ESG score," Finance Research Letters, Elsevier, vol. 63(C).
    • Handle: RePEc:eee:finlet:v:63:y:2024:i:c:s1544612324004069
    DOI: 10.1016/j.frl.2024.105376
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    References listed on IDEAS

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    1. Luning Tong & Maowei Chen, 2024. "The Impact of Female Director Background on the ESG Performance of Chinese Technology Firms: A Moderating Effect Based on Risk Appetite," Sustainability, MDPI, vol. 16(23), pages 1-20, December.

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