Abstract
Purpose This study aims to attempt to evaluate and establish the relationship between gender diversity (GD) on the board and corporate sustainability performance. Design/methodology/approach A sample of 212 non-financial companies listed on the National Stock Exchange has been considered for a period of 2013–2014 to 2018–2019. For the purpose of the analysis, this study has conducted the static panel data model analysis and also some diagnostics tests to arrive at robust results. Findings This study, from its analysis, interprets that GD or the proportion of women directors in the company plays a significant role in the decisions related to the sustainability performance of the company. Alongside GD, the profitability of the company, measured in terms of Tobin’s Q, and firm size are also seen to have a positive impact on the sustainability performance of the company. Practical implications This study from its findings contributes to the existing works of literature by highlighting the impact of GD on the sustainability performance of the firm. This study thus recommends the recruitment of an ample number of females in the top-notch positions of the board to create a gender-diverse management team to reap the benefits of leadership styles of both genders. Originality/value Very few studies have been conducted on the dynamics of women’s directorship, especially in an emerging economy like India. This study thus tries to fill this important gap in the literature by examining the relationship between board GD and sustainability performance of Indian firms.
Highlights
The fast-paced progress and growth of the Indian economy in the fields of industrialisation, infrastructure, business, commerce and trade has taken a toll on the environmental and social system of the country
The study provides empirical evidence that the diversity on board in terms of gender does have a significant impact on the sustainability performance of the firm
The study is done with a view to evaluate and examine the impact of gender diversity (GD) on the sustainability performance of the listed Indian companies
Summary
The fast-paced progress and growth of the Indian economy in the fields of industrialisation, infrastructure, business, commerce and trade has taken a toll on the environmental and social system of the country. The Indian corporates have shared these concerns with the government and come up with new environmental-friendly innovations and technologies to cope up with this disaster at stake. The government is bringing out new policies and legislations such as clause 135 in Companies Act (2013) regarding corporate social responsibility (CSR), Corporate Responsibility for Environmental Protection proposed by the Central Pollution Control Board of India, National Voluntary Guidelines on Social, Environmental and Economic Responsibilities released in 2011 by the Ministry of Corporate. The full terms of this licence maybe seen at http://creativecommons.org/licences/by/4.0/legalcode
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