Do Women Directors Drive Firm's Climate Risk Disclosure? An International Evidence
研究了42个国家2002至2019年间女性董事比例对企业气候风险披露的影响，发现女性董事尤其是独立女性董事能促进披露，且全球性别配额改革强化了这一关系，最终有助于提升企业绩效。
ABSTRACT The paper examines the role of women directors in climate risk disclosure using a comprehensive measure in an international setting. Grounded in stakeholder orientation, resource dependence, and legitimacy theories, the paper analyzes 26,289 firm‐year observations across 42 countries from 2002 to 2019 and documents that a higher proportion of women directors enhances climate risk disclosure, particularly women independent directors. Additionally, global gender quota reforms strengthen this relationship, and women directors and climate risk disclosure collectively contribute to improving firm performance. These results hold various robustness tests, including endogeneity assessments. This research contributes to the ongoing discourse on the business case for board gender diversity and provides valuable insights for regulators, investors, and policymakers.