OTAKE Toshitsugu    Department   Ritsumeikan Asia Pacific University  College of International Management    Position   Professor
Language	English
Publication Date	2025
Type	Research paper
Peer Review	Peer reviewed
Title	The Effect of Board Gender Diversity on Firm Sustainable Performance in the MENA Region: The Moderating Effect of Ownership Concentration
Contribution Type	Joint Work
Journal	Afro-Asian J. of Finance and Accounting
Journal Type	Another Country
Publisher	Inderscience Publishers
Details	Firm sustainable performance is receiving great attention worldwide. Companies are targeting sustainability by focusing on their environmental, social and governance (ESG) activities to meet the expectations of different stakeholders, instead of just focusing on profit maximization and satisfying the investors’ goals only. The objective of this research is to provide empirical evidence on the effect of female presence on boards and ownership concentration on the firm sustainable performance measured by ESG performance in the MENA region. Based on a sample of 571 firm-year observations during the period from 2013 to 2022, we found evidence that female presence on boards contribute towards enhancing the firm’s sustainable performance in the MENA region. Ownership concentration didn’t prove to have a significant effect on firms’ ESG performance. Our results are robust to alternative measures of board gender diversity and ESG performance. This research contributes towards reducing the gap related to board diversity and its impact on firm performance in the developing countries by adding empirical evidence regarding the positive impact of gender diversity on firms’ sustainable performance. Research results will be of great importance to policymakers, regulators, researchers and company management and stakeholders because it adds evidence that female presence of boards might be one of the main factors that contribute towards firms’ sustainability in the developing countries.
DOI	10.1504/AAJFA.2024.10068584