Does Board Gender Diversity Affect Renewable Energy Consumption?

Does Board Gender Diversity Affect Renewable Energy Consumption?

Muhammad Atif, Mohammed Hossain, Md. Samsul Alam, Marc Goergen

Series number :

Serial Number: 

Date posted :

August 26 2019

Last revised :

June 09 2020
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  • Corporate governance • 
  • renewable energy • 
  • Gender Diversity • 
  • Corporate Social Responsibility • 
  • Environmental Protection

This paper examines the effect of board gender diversity on renewable energy consumption. Using a panel of 11,677 firm-year observations from the USA for 2008–2016, we find a positive relationship between board gender diversity and renewable energy consumption.

Moreover, boards require two or more women for women to have a significant impact on renewable energy consumption, consistent with the critical mass theory. Further, we document that the positive impact of female directors on renewable energy consumption stems from female independent rather than female executive directors. Finally, we find a positive effect of renewable energy consumption and board gender diversity on firm financial performance. Our findings are robust to different identification strategies and estimation techniques.

Published in

Published in: 
Publication Title: 
Journal Of Corporate Finance, Forthcoming


Real name:
Muhammad Atif
Real name:
Mohammed Hossain
Real name:
Md. Samsul Alam