The Mediating Role of Greenhouse Gas Emissions Disclosure in The Relationship Between Board Gender Diversity, Sustainability Committees and Firm Value: Empirical Evidence of the Listed Companies on the Stock Exchange of Thailand
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Abstract
This research aims to investigate the mediating role of Greenhouse Gas emissions disclosure (GHD) in the relationship between board gender diversity (BGD), sustainability committee (SC), and firm value (FV) among the listed companies on the Stock Exchange of Thailand (SET) during the period from 2019 to 2023. The sample consists of 580 firms-years, with secondary data collected from the Workspace database. Data was analyzed by using the panel data analysis approach. The results show that BGD has a positive and significant direct effect on FV, while SC exhibits a negative direct effect. Mediation analysis reveals that GHD partially mediates the relationship between BGD and FV and fully mediates the relationship between SC and FV. These findings suggest that BGD enhance FV in part by improving environmental transparency, while the value of SC depends on its ability to oversee sustainability to increase GHD levels. This study contributes to the corporate governance and sustainability literature by providing evidence from an emerging market and offers practical implications for policymakers, investors, and corporate boards aiming to strengthen sustainability governance and disclosure practices.
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