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The Moderating Effect of Relational Capital and Board Gender Diversity on the Relationship Between Environmental Performance and Firm Performance in the Airline Industry

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  • Wen‐Min Lu
  • Hsiu‐Fei Wang
  • Thi Hoang Yen Nguyen

Abstract

This study introduces a novel moderated moderating framework to investigate the influence of relational capital on the relationship between environmental and firm performances in the airline industry, with board gender diversity as a moderating factor. It employs a chance‐constrained network data envelopment analysis approach based on an enhanced Russell‐based directional distance measure to address the randomness of data and assess airline efficiencies. This study also conducts a biplot analysis to identify the advantages and disadvantages of airlines based on their efficiencies. The results from an analysis of 40 airlines show that environmental performance has a more significant effect on profitability than on operational efficiency. Notably, relational capital does not always enhance the relationship between environmental and firm performances; instead, it moderates the relationship between environmental performance and profitability efficiency when the board gender diversity of the firm is high.

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  • Wen‐Min Lu & Hsiu‐Fei Wang & Thi Hoang Yen Nguyen, 2025. "The Moderating Effect of Relational Capital and Board Gender Diversity on the Relationship Between Environmental Performance and Firm Performance in the Airline Industry," Business Strategy and the Environment, Wiley Blackwell, vol. 34(6), pages 6925-6947, September.
    • Handle: RePEc:bla:bstrat:v:34:y:2025:i:6:p:6925-6947
    DOI: 10.1002/bse.4330
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