We analyze the impact of board of directors (BoD) tenure and audit committee (AC) tenure on environmental performance (EP) to test whether BoD and AC members' rotation generates higher environmental performance. Data were collected from the Refinitiv Eikon database, structuring a sample of European Union (EU) listed companies belonging to the “old” country members in the period from 2018 to 2020. We found that longer board tenure and longer audit committee tenure each enhance environmental performance, demonstrating that firms could view the tenure rate as a proxy of the quality of the board monitoring. On the contrary, the interaction term (BoD and AC tenure) is negatively related to environmental performance, showing that when two boards have a low rotation, companies may achieve lower environmental performance. These findings help understand the dynamic and complex nature of tenure in corporate governance mechanisms.

中文翻译：

---

更长的董事会任期和审计委员会任期。它们如何影响环境绩效？一项欧洲研究

我们分析了董事会 (BoD) 任期和审计委员会 (AC) 任期对环境绩效 (EP) 的影响，以检验 BoD 和 AC 成员轮换是否产生更高的环境绩效。数据是从Refinitiv Eikon收集的数据库，构建了 2018 年至 2020 年期间属于“老”成员国的欧盟 (EU) 上市公司的样本。我们发现，较长的董事会任期和较长的审计委员会任期都会提高环境绩效，表明公司可以查看任期率作为董事会监督质量的代表。相反，交互项（BoD 和 AC 任期）与环境绩效呈负相关，表明当两个董事会的轮换率较低时，公司可能实现较低的环境绩效。这些发现有助于理解公司治理机制中任期的动态和复杂性质。