TY - JOUR
T1 - Sustainable corporate governance and gender diversity on corporate boards
T2 - evidence from COVID-19
AU - Naeem, Muhammad Abubakr
AU - Karim, Sitara
AU - Nor, Safwan Mohd
AU - Ismail, Rusmawati
N1 - Publisher Copyright:
© 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.
PY - 2022
Y1 - 2022
N2 - The unprecedented challenges caused by the COVID-19 pandemic have led to a need to re-examine sustainable corporate governance practices. Within this context, the current study investigates the moderated effect of gender-diverse corporate boards on sustainable corporate governance practices in Malaysian financial and non-financial firms during the period 2011–2020, employing the dynamic estimator (S-GMM). During the COVID-19 pandemic, a negative relationship between ownership constructs and Global Reporting Initiative (GRI) indicators is observed in non-financial firms, whereas the opposite is reported for financial firms. Moreover, the moderated effect of gender-diverse boards is only substantiated in financial firms. The findings reveal that sustainable corporate governance is practised in financial firms but not in non-financial firms. Particularly, we draw significant implications for policymakers and regulatory bodies of Malaysia to carefully monitor the implementation of sustainable corporate governance given uncertain circumstances of COVID-19 pandemic. Further, our study is beneficial for academics, practitioners, and research scholars for their future research endeavours.
AB - The unprecedented challenges caused by the COVID-19 pandemic have led to a need to re-examine sustainable corporate governance practices. Within this context, the current study investigates the moderated effect of gender-diverse corporate boards on sustainable corporate governance practices in Malaysian financial and non-financial firms during the period 2011–2020, employing the dynamic estimator (S-GMM). During the COVID-19 pandemic, a negative relationship between ownership constructs and Global Reporting Initiative (GRI) indicators is observed in non-financial firms, whereas the opposite is reported for financial firms. Moreover, the moderated effect of gender-diverse boards is only substantiated in financial firms. The findings reveal that sustainable corporate governance is practised in financial firms but not in non-financial firms. Particularly, we draw significant implications for policymakers and regulatory bodies of Malaysia to carefully monitor the implementation of sustainable corporate governance given uncertain circumstances of COVID-19 pandemic. Further, our study is beneficial for academics, practitioners, and research scholars for their future research endeavours.
KW - COVID-19
KW - Gender diverse boards
KW - S-GMM
KW - sustainable corporate governance
UR - http://www.scopus.com/inward/record.url?scp=85125376752&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85125376752&partnerID=8YFLogxK
U2 - 10.1080/1331677X.2022.2038649
DO - 10.1080/1331677X.2022.2038649
M3 - Article
AN - SCOPUS:85125376752
SN - 1331-677X
VL - 35
SP - 5824
EP - 5842
JO - Economic Research-Ekonomska Istrazivanja
JF - Economic Research-Ekonomska Istrazivanja
IS - 1
ER -