为ESG完整性优化董事会结构:非线性规模效应和多样性调节对绿色洗的影响
Jingzhuo Yu1,2, Yong-Sik Hwang2
1School of Civil Engineering and Architecture, Jiaxing Nanhu University, Jiaxing, Zhejiang, China.
PloS one
|January 23, 2026
概括
中型董事会与更高的环境,社会和治理 (ESG) 绿色洗有关. 董事会的多样性,特别是性别和功能多样性,可以影响这种关系,为公司治理战略提供见解.
科学领域:
- 公司治理 公司治理
- 环境,社会和治理 (ESG) 研究 研究
- 行为金融是行为金融.
背景情况:
- 董事会规模是企业治理的一个关键因素.
- 环境,社会和治理 (ESG) 绿色洗对企业声誉和利益相关者的信任构成风险.
- 了解董事会特征与ESG实践之间的相互作用至关重要.
研究的目的:
- 调查板块大小和ESG绿色洗之间的非线性关系.
- 检查董事会多样性 (性别,职能背景,国籍,年龄) 对这种关系的调节作用.
- 通过欺诈三角理论探索驱动这些协会的潜在机制.
主要方法:
- 对中国A股上市公司 (2009-2023) 的小组数据分析.
- 测试反转U形关系的二次固定效应回归模型.
- 董事会多样性维度的异质性分析.
主要成果:
- 董事会规模和ESG绿色洗之间存在一个反转的U形关系,中型董事会 (10-13名董事) 显示出最高的倾向.
- 性别和功能多样性强化了反转的U形,而年龄和国籍多样性削弱了它.
- 确定了不同的途径:基于资源 (性别,功能) 和基于监督 (国籍) 的多样性机制.
结论:
- 企业应该避免中型董事会,以减轻ESG绿色洗风险.
- 有针对性的董事会多样性战略对于有效的ESG绿色洗风险管理至关重要.
- 调查结果为董事会治理和绿色洗文献做出了贡献,为可持续的商业实践提供了实际影响.
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