Abstract
This paper investigates the relationship between board characteristics and environmental, social, and governance (ESG) performance by analyzing 109 firms listed in the African Stock Exchanges from 2016 to 2022. Our findings indicate that board independence, as well as board gender diversity and specific skills, are associated with higher levels of ESG performance. In contrast, larger boards tend to diminish ESG performance in Africa. We also found that the presence of a sustainability committee and a corporate governance committee contributes to driving positive ESG outcomes. This study provides relevant insights and yields significant implications for policymakers and companies, suggesting the need to increase sustainability concerns in their agendas to foster sustainable economic growth in Africa.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.