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CEO overconfidence and carbon emissions: does board diversity matter?

Author

Listed:
  • Bilel Bzeouich

  • Sabrina Khemiri

    (LITEM - Laboratoire en Innovation, Technologies, Economie et Management (EA 7363) - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris], IMT-BS - DEFI - Département Data analytics, Économie et Finances - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris])

  • Assil Guizani
  • Faten Lakhal

  • Ramzi Benkraiem

Abstract

This study tests the effect of chief executive officer (CEO) overconfidence effect on carbon emissions. Using a sample of French public firms from 2009 to 2020, our findings associate positively CEO overconfidence with corporate carbon emissions suggesting that the overconfidence bias may lead CEOs to have a risk-taking and unethical behavior and demonstrate a low awareness of environmental protection. However, board diversity including gender, cultural and expertise diversity mitigates the effect of this behavioral bias on carbon emissions. Further evidence shows that the presence of CSR committee and family ownership are two potential mitigating mechanisms in the CEO overconfidence-carbon emissions relationship. Our findings give insights to investors and policymakers who may consider the behavior of overconfident CEOs and the effectiveness of board diversity for addressing carbon risks.

Suggested Citation

  • Bilel Bzeouich & Sabrina Khemiri & Assil Guizani & Faten Lakhal & Ramzi Benkraiem, 2026. "CEO overconfidence and carbon emissions: does board diversity matter?," Post-Print hal-05647948, HAL.
    • Handle: RePEc:hal:journl:hal-05647948
    as

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