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Sustainable corporate governance and gender diversity on corporate boards: evidence from COVID-19

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  • Muhammad Abubakr Naeem
  • Sitara Karim
  • Safwan Mohd Nor
  • Rusmawati Ismail

Abstract

The unprecedented challenges caused by the COVID-19 pandemic have led to a need to re-examine sustainable corporate governance practices. Within this context, the current study investigates the moderated effect of gender-diverse corporate boards on sustainable corporate governance practices in Malaysian financial and non-financial firms during the period 2011–2020, employing the dynamic estimator (S-GMM). During the COVID-19 pandemic, a negative relationship between ownership constructs and Global Reporting Initiative (GRI) indicators is observed in non-financial firms, whereas the opposite is reported for financial firms. Moreover, the moderated effect of gender-diverse boards is only substantiated in financial firms. The findings reveal that sustainable corporate governance is practised in financial firms but not in non-financial firms. Particularly, we draw significant implications for policymakers and regulatory bodies of Malaysia to carefully monitor the implementation of sustainable corporate governance given uncertain circumstances of COVID-19 pandemic. Further, our study is beneficial for academics, practitioners, and research scholars for their future research endeavours.

Suggested Citation

  • Muhammad Abubakr Naeem & Sitara Karim & Safwan Mohd Nor & Rusmawati Ismail, 2022. "Sustainable corporate governance and gender diversity on corporate boards: evidence from COVID-19," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 5824-5842, December.
    • Handle: RePEc:taf:reroxx:v:35:y:2022:i:1:p:5824-5842
    DOI: 10.1080/1331677X.2022.2038649
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    Cited by:

    1. Ooi Kok Loang, 2023. "Corporate Governance and Islamic Behavioural Finance: A Review from Malaysia and GCC Countries," Indian Journal of Corporate Governance, , vol. 16(1), pages 28-51, June.

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