Board gender diversity, environmental regulation and corporate green performance: evidence from synergistic internal and external governance

Purpose This paper aims to examine the impact of board gender diversity on corporate green performance. While further investigating the moderating role of environmental regulation, this study demonstrates the synergistic effect of internal and external governance on corporate green performance. The authors also explore the mechanisms through which female directors influence green performance, focusing on environmental information disclosure and environmental investment. Design/methodology/approach This paper formulates its research question based on the theories of gender socialization and resource dependence. Furthermore, this paper uses the OLS method for empirical research, which includes principal regression analysis, robustness checks, mechanism analysis and heterogeneity tests. Findings This study reveals a significantly positive relationship between board gender diversity and corporate green performance, driven by enhanced environmental information disclosure and increased environmental investment. Furthermore, environmental regulation positively moderates this relationship, indicating that internal and external governance can synergize effectively. The authors also find that board gender diversity’s influence on green performance is enhanced in environmentally sensitive industries, family firms and among directors with diverse career backgrounds. Originality/value This paper makes three significant contributions to the research on board gender diversity and corporate green performance. First, the authors contribute to the literature related to board gender diversity’s impact on firms’ green performance. Second, the study integrates both internal and external governance perspectives to comprehensively examine the green performance of firms. Third, the paper clarifies the mechanism of board gender diversity’s influence on corporate green performance. Specifically, the authors document that this facilitation improves environmental performance through enhanced corporate environmental disclosure and environmental investment.