Do Female Directors Bridge Sustainability and Profitability? Evidence From MENA Firms

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Analysis shows limited influence of female directors on carbon performance and financial outcomes in MENA firms, suggesting a complex relationship.

There is a positive link between carbon performance and firm value in MENA firms, particularly using market-based measures.
Despite the presence of female directors, their role in enhancing financial performance from carbon initiatives is limited and context-dependent.
Using two-stage least squares and structural equation modeling, the study examines 94 firms from 2015 to 2022.
Findings call for improved inclusive governance mechanisms beyond mere representation, as women's influence in corporate governance is constrained.

Inès Kateb (2025) studied this question.

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Analysis shows limited influence of female directors on carbon performance and financial outcomes in MENA firms, suggesting a complex relationship.