Women on management board and ESG performance
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In: Journal of Global Responsibility, Vol. 7, No. 1, 09.05.2016, p. 98-109.
Research output: Journal contributions › Journal articles › Research › peer-review
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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 -