Environmental performance and firm performance in Europe: The moderating role of board governance

Marcel Dohrmann, Monica Martinez-Blasco, Andreas Moring, Jordi Cuadros Margarit

Producción científica: Artículo en revista indizadaArtículorevisión exhaustiva

2 Citas (Scopus)

Resumen

This research presents novel insights into the relationship between environmental performance and firm performance, focusing on the moderating role of board governance. Unlike the single-dimensional examination in previous studies, we examine five board variables collectively in our moderator analysis. Employing ordinary least squares regression and a series of robustness tests, we investigate 582 European listed firms across various industries from 2016 to 2021. Our findings reveal a positive influence of environmental performance on firm performance, measured by Tobin's Q and ROA. Furthermore, we find that board independence, gender diversity and audit committee independence moderate this relationship. To address potential endogeneity issues, we employ GMM modelling. This study significantly contributes to the environmental performance and firm performance literature by offering evidence on the moderating role of board mechanisms. Moreover, it offers valuable insights for policymakers and practitioners, highlighting the need to monitor corporate boards for improved environmental and financial outcomes.

Idioma originalInglés
Páginas (desde-hasta)5863-5880
Número de páginas18
PublicaciónCorporate Social Responsibility and Environmental Management
Volumen31
N.º6
DOI
EstadoPublicada - nov 2024

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