Abstract
This paper examines the effect of board gender diversity on renewable energy consumption. Using a panel of 11,677 firm-year observations from the USA for 2008–2016, we find a positive relationship between board gender diversity and renewable energy consumption. Moreover, boards require two or more women for women to have a significant impact on renewable energy consumption, consistent with the critical mass theory. Further, we document that the positive impact of female directors on renewable energy consumption stems from female independent rather than female executive directors. Finally, we find a positive effect of the interaction between renewable energy consumption and board gender diversity on firm financial performance. Our findings are robust to different identification strategies and estimation techniques.
| Original language | English |
|---|---|
| Article number | 101665 |
| Pages (from-to) | 1-29 |
| Number of pages | 29 |
| Journal | Journal of Corporate Finance |
| Volume | 66 |
| Early online date | 6 Jun 2020 |
| DOIs | |
| Publication status | Published - Feb 2021 |
Bibliographical note
Copyright © 2020 The Authors. Version archived for private and non-commercial use with the permission of the author/s and according to publisher conditions. For further rights please contact the publisher.Keywords
- Corporate governance
- Corporate social responsibility
- Environmental protection
- GBoard gender diversity
- Global warming
- Renewable energy
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