Purpose

Recent regulatory changes in Europe have promoted non-financial reporting practices (e.g., Directive, 2014/95/EU) and gender diversity in decision-making positions. Special attention is devoted to promoting the gender balance on corporate boards as a key mechanism to enhance corporate governance effectiveness and better address multiple stakeholders' needs. With this in mind, this study intends to examine the impact of boardroom gender diversity on Environmental Social Governance (ESG) disclosure practices in the European listed firms' context.

Design/methodology/approach

The study applies different panel data models on an extended sample of 1,392 firms from 21 European Union (EU) countries for six years (2014–2019).

Findings

Findings allow to spotlight the positive role exerted by the presence of women directors on the boards in enhancing ESG disclosure, both at the overall and specific (individual ESG scores) level.

Research limitations/implications

Policymakers and regulators might consider the study's evidence as a stimulus to continue in promoting strategic actions and reforms that foster gender equality and balance in corporate decision-making positions.

Practical implications

Creating a heterogeneous and diversified board of directors may support implementing a “sustainable corporate governance” recently claimed by the EC.

Originality/value

The study contributes to the literature by disentangling the links between gender diversity and ESG disclosure over a period that covers a long season of European regulations and measures that affected both non-financial reporting practices and the board of directors' composition. Accordingly, it can contribute to enhancing the practical and theoretical understanding of the pivotal role that gender diversity may exert in strengthening corporate governance and, in turn, corporate transparency and accountability behaviours about non-financial issues.

中文翻译：

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欧洲的可持续公司治理和非财务披露：性别多样性重要吗？

目的

欧洲最近的监管变化促进了非财务报告实践（例如，指令，2014/95/EU）和决策职位的性别多样性。特别注意促进公司董事会的性别平衡，将其作为提高公司治理有效性和更好地满足多个利益相关者需求的关键机制。考虑到这一点，本研究旨在研究董事会性别多样性对欧洲上市公司环境社会治理 (ESG) 披露实践的影响。

设计/方法/方法

该研究对来自 21 个欧盟 (EU) 国家的 1,392 家公司的扩展样本应用了不同的面板数据模型，为期六年（2014-2019 年）。

发现

调查结果突出了董事会中女性董事在加强 ESG 披露方面发挥的积极作用，无论是在整体还是具体（个人 ESG 评分）层面。

研究限制/影响

政策制定者和监管机构可能会将这项研究的证据视为继续推动促进性别平等和企业决策职位平衡的战略行动和改革的动力。

实际影响

创建一个多元化和多元化的董事会可能会支持实施欧盟最近声称的“可持续公司治理”。

原创性/价值

该研究通过在涵盖影响非财务报告实践和董事会组成的欧洲法规和措施的漫长时期内解开性别多样性与 ESG 披露之间的联系，为文献做出贡献。因此，它有助于增强对性别多样性在加强公司治理方面可能发挥的关键作用的实践和理论理解，进而加强公司在非财务问题上的透明度和问责行为。