Impact of Female Executive Power on Corporate ESG Performance: The Mediating Role of Managerial Self‐Interest
研究2012-2022年中国A股上市公司数据，发现女性高管权力通过抑制管理者自利行为提升企业ESG绩效，且企业数字化转型和区域数字金融发展正向调节这一关系。
ABSTRACT The significance of the responsibility fulfillment capability for environmental, social, and governance (ESG) is increasing, with ESG performance becoming increasingly pivotal for firms seeking to bolster their competitive edge. This study empirically examines the correlation and mechanism between female executive power and corporate ESG performance, using regression analysis to focus on A‐share listed firms from 2012 to 2022. The results demonstrate that female executive power has a positive correlation with corporate ESG and ES performance. This positive correlation is ascribed to the mechanism by which female executive power diminishes managerial self‐interest and improves corporate ESG and ES performance. Furthermore, corporate digital transformation and regional digital finance development have a positive moderating effect on this relationship. This study expands prior scholarship on the determinants of corporate ESG performance by investigating the impact of executive gender diversity. Moreover, it elucidates how female executive power influences corporate ESG performance. These findings provide empirical evidence and theoretical insights for firms seeking to enhance their ESG performance for sustainable development.