The Mediating Role of Environmental, Social and Corporate Governance Performance in the Relationship between Female Managers and level of Firm Financialization

Document Type : Research Paper

Authors

university of tehran

10.22051/jaasci.2025.48329.1879

Abstract

Purpose: The purpose of this study is to investigate the effect of the presence of female managers on the board of directors on the level of company financialization. Also, this study examines the mediating role of environmental, social, and corporate governance performance in the relationship between female managers and the level of financialization of companies.
Method: In order to achieve the goal of the research, a sample equal to 121 companies admitted to the Tehran Stock Exchange during the period from 2017 to 2023, equivalent to 726 company-years, was analyzed using multiple regression analysis based on composite data.
Results: The findings showed that the increase in female managers on the board of directors significantly hinders the company's financialization. Also, the findings confirmed the mediating role of environmental, social, and corporate governance performance on the relationship between the presence of female managers and company financialization.
Conclusion: The presence of female managers in the board of directors can significantly reduce the companies financialization. Also, the improvement of environmental, social and corporate governance performance strengthens the negative effect of female managers on the financialization of the company.
Contribution: In general, this study provides an effective way to reduce the risk of financialization of companies from the perspective of the company's internal governance structure and develops the literature of women's economic behavior in corporate governance.

Keywords

Main Subjects

Files

History

  • Receive Date: 01 October 2024
  • Revise Date: 21 May 2025
  • Accept Date: 11 April 2025

Share

How to cite

Statistics