Programa del congreso

• Objetivo. We analyse how the relative power of female directors influences the level of greenwashing using a sample of European listed firms (2020-2023).

• Marco teórico. Theories of tokenism, critical mass, attribution, corporate hypocrisy, gender socialization, upper echelons and fault lines.

• Metodología. OLS, 2SLS and Heckman models.

• Resultados. The results point to an inverted U-shaped relationship between the number of female directors and greenwashing. At low levels of female representation, women are used as ‘insurance’ to improve public image without incurring a high cost if the deception is discovered. However, a high number of female directors exerts a significant influence on decision-making, due to their characteristic traits and their concern for preserving their reputation, thereby encouraging more ethical behaviour and greater transparency, and so reducing the gap between reports issued and action taken.

• Objetive: This study examines how the presence of gender diversity on boards affects the pay gap among board members in a context of concentrated ownership and how the presence of women directors on the remuneration committee affects the gender pay gap on board.

• Theoretical arguments: Tokenism, critical mass, congruency role theories, queen bee phenomenon.

• Methodology: OLS, 2SLS, GMM, and Heckman.

• Results: Using a sample of non-financial Spanish listed firms 2014-2022, the results show an inverted U-shape, suggesting that a small number of female directors increases the gender pay gap. However, if a critical mass of women on the board is reached the gender pay gap narrows. In addition, the study reveals that the participation of female directors on the remuneration committee increases the gender pay gap.

Purpose

This study investigates the relationship between CEO gender and firm performance in the Ecuadorian manufacturing sector, focusing on how tenure and education moderate this relationship. Grounded in Upper Echelons Theory (UET), it explores how career stages and educational backgrounds shape performance outcomes.

Design/methodology/approach

We analyze an unbalanced panel of 1,912 firm-year observations from 662 manufacturing firms (2016–2020), employing System-GMM estimations with Propensity Score Matching to address endogeneity concerns and ensure robust results.

Findings

The results indicate that the relationship between CEO gender and firm performance is contingent on tenure and education. Female CEOs outperform their male counterparts at lower levels of tenure and education, but these differences fade as experience and education increase. This suggests that performance outcomes are primarily driven by career stages and qualifications rather than gender alone.

Originality/value

This study offers novel insights by demonstrating that the gender-performance relationship is contingent on experiential and educational factors. It contributes to UET by highlighting how demographic and experiential attributes interact to shape leadership effectiveness. Additionally, it provides practical implications for leadership selection and development, emphasizing the importance of evaluating career stages and educational profiles in CEO appointments.

Objectives: This study examines whether financial auditors incorporate environmental risks into Key Audit Matters (KAMs) in audit reports and evaluates how auditor and client characteristics influence the inclusion of these environmental matters.

Theoretical Framework: The research is grounded in stakeholder theory and builds on prior studies on auditing, sustainability, and the disclosure of environmental risks in financial reports.

Methodology: A sample of 137 companies from environmentally sensitive sectors in the United Kingdom, France, and the Netherlands was analysed between 2014 and 2022. Content analysis and statistical techniques were employed to identify the presence and determinants of Environmental KAMs (EnvKAMs).

Results/Implications: Findings reveal significant disparities in the inclusion of EnvKAMs across countries, sectors, and auditor types. Big Four audit firms lead in recognising and reporting environmental risks, particularly in highly regulated sectors such as utilities and oil and gas. Companies with higher ESG scores and larger asset bases are more likely to disclose EnvKAMs, driven by regulatory pressures and stakeholder expectations. However, inconsistencies persist, particularly among non-Big Four auditors and in less regulated sectors.