Advancing Feminist Perspectives on Sustainability: The Role of NGO-Experienced Female Leaders in ESG Practices
摘要
Empowering females and enhancing their representation in leadership roles are critical components of sustainable development. This study uniquely explores how female directors with Non-Governmental Organization (NGO) backgrounds influence the relationship between Environmental, Social, and Governance (ESG) practices and firm performance in Malaysia, through the lens of feminist theory. Utilizing comprehensive data from 398 firm-year observations across various sectors from 2018 to 2021, the study employs advanced econometric techniques, including the Durbin-Watson test for autocorrelation, Propensity Score Matching (PSM) to mitigate selection bias, and Generalized Least Squares (GLS) to ensure robust estimation. The findings highlight that female directors with NGO experience significantly strengthen ESG integration within firms, particularly by enhancing the social dimension through improved stakeholder engagement, transparency, and ethical governance. This distinctive influence notably translates into enhanced corporate performance, closely aligning corporate strategies with broader sustainability goals. By linking feminist empowerment principles to corporate governance, female NGO directors effectively bridge civic engagement with strategic business decision-making processes. This study offers valuable insights for organizations and policymakers aiming to integrate gender diversity and NGO expertise into corporate governance frameworks, promoting sustainable, inclusive, and equitable business practices.