Do female CEOs matter for ESG scores?

Environmental, social, and governance (ESG) issues are important for consumers, investors, and other stakeholders. The same applies for gender diversity. We show that whether female CEOs seem to matter for the firm's ESG profile depends crucially on the data used for the analysis: depending on...

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Bibliographic Details
Published inGlobal finance journal Vol. 56; p. 100722
Main Authors Aabo, Tom, Giorici, Iasmina Cristina
Format Journal Article
LanguageEnglish
Published Elsevier Inc 01.05.2023
Subjects
Behavioral corporate finance
CEO gender
Corporate social responsibility
ESG scores
CEO gender
Corporate social responsibility
ESG scores
G40
G32
G34
Behavioral corporate finance
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Summary:Environmental, social, and governance (ESG) issues are important for consumers, investors, and other stakeholders. The same applies for gender diversity. We show that whether female CEOs seem to matter for the firm's ESG profile depends crucially on the data used for the analysis: depending on the specific data provider, ESG scores for the same firms are either strongly and significantly positively associated, or not associated at all, with having a female CEO. Conclusions on this important topic are vulnerable to data discrepancies across ESG data providers.
ISSN:1044-0283
1873-5665
DOI:10.1016/j.gfj.2022.100722