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Green board of directors and corporate resilience

Author

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  • Huang, Siyu
  • Luan, Zhongwei
  • Xie, Xinyan

Abstract

Using data from Chinese A-share listed firms on the Shanghai and Shenzhen Stock Exchanges from 2015 to 2023, this study empirically examines the impact of a board of directors' green background on corporate resilience and its underlying mechanisms. The results indicate that a green board of directors significantly enhances corporate resilience, a conclusion supported by robustness and endogeneity tests. The mechanism analysis reveals that a green board of directors can enhance corporate resilience through three primary channels: alleviating financing constraints, promoting environmental protection concepts, and stimulating green innovation.

Suggested Citation

  • Huang, Siyu & Luan, Zhongwei & Xie, Xinyan, 2025. "Green board of directors and corporate resilience," Finance Research Letters, Elsevier, vol. 81(C).
    • Handle: RePEc:eee:finlet:v:81:y:2025:i:c:s1544612325007123
    DOI: 10.1016/j.frl.2025.107453
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    References listed on IDEAS

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    Cited by:

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    4. Yang, Zhonghai & Song, Pingting & Xu, Meng, 2025. "Nearer means better? CSRC proximity and ESG greenwashing," International Review of Financial Analysis, Elsevier, vol. 106(C).

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    Keywords

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    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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