The present paper aims at exploring the relationship between firms’ board structure and their green performance, within the agency theory and resource dependence theory frameworks, in order to outline if particular types of board directors could act as a stimulating driver for firms’ environmental performance. The theoretical analysis is completed by an empirical exploration, performed by two linear regression models, on a sample of Italian and Spanish firms included in the CSRHub database in 2015. Our findings provide nuanced evidence that boards do affect firms’ environmental performance. We reported in fact a positive relationship between the presence of non-executivedirectors in the board and companies’ environmental performance; while the critical mass of women directors and the percentage of independent directors, together with board size, do not seem to be related with firms’ green performance.
How Green Is Your Board? Board Structure and Corporate Environmental Performance
Profumo G.;
2017-01-01
Abstract
The present paper aims at exploring the relationship between firms’ board structure and their green performance, within the agency theory and resource dependence theory frameworks, in order to outline if particular types of board directors could act as a stimulating driver for firms’ environmental performance. The theoretical analysis is completed by an empirical exploration, performed by two linear regression models, on a sample of Italian and Spanish firms included in the CSRHub database in 2015. Our findings provide nuanced evidence that boards do affect firms’ environmental performance. We reported in fact a positive relationship between the presence of non-executivedirectors in the board and companies’ environmental performance; while the critical mass of women directors and the percentage of independent directors, together with board size, do not seem to be related with firms’ green performance.File | Dimensione | Formato | |
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