TY - JOUR

T1 - Women on management board and ESG performance

AU - Velte, Patrick

PY - 2016/5/9

Y1 - 2016/5/9

N2 - Purpose: The purpose of this paper is to analyse women on management board and their impact on environmental, social and governance (ESG) performance in two European two-tier countries. Design/methodology/approach: The empirical quantitative paper covers a sample of German and Austrian companies which are listed at the Prime Standard of the Frankfurt and Vienna Stock Exchange for the business years 2010-2014 (1,019 firm-year observations). A correlation and regression analysis is conducted to measure a possible link between gender diversity and ESG performance in these European countries. Findings: Multiple regressions state that female members in the management board do have a positive impact on ESG performance, measured by the AssetFour database by Thomson Reuters. Surprisingly, CSR expertise does not have a significant impact on ESG performance, whether the implementation of a CSR committee has a positive and significant link with ESG performance. Originality/value: The analysis is the first empirical study that has a focus on Germany and Austria as the main representatives of the European two-tier system. Findings have implications for both users and public policy and suggest that current national and European regulations on corporate governance and CSR could have a great impact on future CSR performance and market reactions.

AB - Purpose: The purpose of this paper is to analyse women on management board and their impact on environmental, social and governance (ESG) performance in two European two-tier countries. Design/methodology/approach: The empirical quantitative paper covers a sample of German and Austrian companies which are listed at the Prime Standard of the Frankfurt and Vienna Stock Exchange for the business years 2010-2014 (1,019 firm-year observations). A correlation and regression analysis is conducted to measure a possible link between gender diversity and ESG performance in these European countries. Findings: Multiple regressions state that female members in the management board do have a positive impact on ESG performance, measured by the AssetFour database by Thomson Reuters. Surprisingly, CSR expertise does not have a significant impact on ESG performance, whether the implementation of a CSR committee has a positive and significant link with ESG performance. Originality/value: The analysis is the first empirical study that has a focus on Germany and Austria as the main representatives of the European two-tier system. Findings have implications for both users and public policy and suggest that current national and European regulations on corporate governance and CSR could have a great impact on future CSR performance and market reactions.

KW - Sustainability Science

KW - Management studies

KW - Gender and Diversity

KW - Corporate governance

KW - CSR expertise

KW - CSR management

KW - ESG performance

KW - Gender diversity

KW - Management board

UR - http://www.scopus.com/inward/record.url?scp=85029010511&partnerID=8YFLogxK

U2 - 10.1108/JGR-01-2016-0001

DO - 10.1108/JGR-01-2016-0001

M3 - Journal articles

VL - 7

SP - 98

EP - 109

JO - Journal of Global Responsibility

JF - Journal of Global Responsibility

SN - 2041-2568

IS - 1

ER -