The role of women on board in carbon emission disclosure and the consequences on firm value

Abstract The role of women in corporate leadership is increasingly recognized as a critical factor in promoting sustainability. Therefore, this research aims to prove the relationship between the presence of women on the board of directors supported by the educational background on carbon emission disclosure and the consequences on firm value. The main focus considered is the transportation and logistics sector in ASEAN-5. The sample comprises 765 observations collected over the period from 2017 to 2022. Furthermore, the test is carried out using Eviews 13, the Ordinary Least Squares (OLS) method, and Moderated Regression Analysis (MRA) to measure the ability of the moderating variable. The results show that the presence of women on the board of directors has a positive effect on carbon emission disclosure practices. The business and economics education of women directors strengthens the relationship. This reports the importance of combining gender diversity and educational background in promoting sustainability practices for corporate governance. In this context, carbon emission disclosure practices have a positive effect on firm value as proxied by Tobin’s Q. The results are expected to motivate and strengthen corporate policies in recruitment strategies by considering gender diversity aspects and the board of directors’ educational qualifications to support better sustainability policies. New insights are provided by supporting the “green and competitive” perspective regarding sustainability and business value.