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Financing Businesses for Sustainable Growth: Economic, Social, and Environmental Drivers With A Gender Approach

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  • José Manuel Santos‐Jaén
  • Patricia P. Iglesias‐Sanchez
  • Meda Nataliia
  • Carlos de las Heras Jambrino

Abstract

This study examines the relationship between Environmental, Social, and Governance (ESG) practices and financial performance, incorporating a gender perspective. While ESG frameworks enhance investment attractiveness, the role of female leadership remains underexplored. Using a sample of EuroStoxx 300, the data was analyzed using Partial Least Squares Structural Equation Modeling (PLS‐SEM). The study assessed financial capital, investment attractiveness, and sustainability performance with gender representation as a moderating variable. The results confirm a positive relationship between financial capital and economic/social efficiency, while environmental efficiency presents mixed effects. Female board representation strengthens the link between investment attractiveness and financial capital. These findings contribute to the literature by integrating gender as a strategic factor in ESG‐financing research and highlight the practical implication that companies should promote gender‐diverse leadership to maximize the financial and strategic benefits of sustainable practices.

Suggested Citation

  • José Manuel Santos‐Jaén & Patricia P. Iglesias‐Sanchez & Meda Nataliia & Carlos de las Heras Jambrino, 2025. "Financing Businesses for Sustainable Growth: Economic, Social, and Environmental Drivers With A Gender Approach," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(5), pages 7895-7909, October.
    • Handle: RePEc:wly:sustdv:v:33:y:2025:i:5:p:7895-7909
    DOI: 10.1002/sd.3560
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