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Board Gender Diversity and Firm-level Climate Change Exposure: A Global Perspective

Lookup NU author(s): Dr Vu TrinhORCiD



This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0).


This study examines the association between board gender diversity and firm-level climate change exposure. Using a global sample of 14,685 firm-year observations covering 2,469 firms across 63 countries from 2000-2021, we find that firms with more gender-diverse boards are likely to exhibit lower climate change exposure. The results remain after we decompose the exposure into three components: exposures to opportunity, physical (e.g., sea level rises), and regulatory shocks (e.g., carbon taxes, cap and trade markets). Our critical mass analysis further confirms that boards with at least two female directors start having such a significant effect.

Publication metadata

Author(s): Trinh VQ, Trinh HH, Nguyen THH, Vo XV

Publication type: Article

Publication status: Published

Journal: Finance Research Letters

Year: 2023

Volume: 55

Issue: Part B

Print publication date: 01/07/2023

Online publication date: 08/05/2023

Acceptance date: 07/05/2023

Date deposited: 04/07/2023

ISSN (print): 1544-6123

ISSN (electronic): 1544-6131

Publisher: Elsevier


DOI: 10.1016/


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Funder referenceFunder name
University of Economics Ho Chi Minh City, Vietnam