Publication: Financing businesses for sustainable growth: economic, social, and environmental drivers with a ender approach
Authors
Santos Jaén, José Manuel ; Iglesias-Sánchez, Patricia P. ; Nataliia, Meda ; Heras Jambrino, Carlos de las
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Publisher
Wiley
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DOI
https://doi.org/10.1002/sd.3560
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info:eu-repo/semantics/article
Description
© 2025 The Author(s). This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/. This document is the Published version of a Published Work that appeared in final form in Sustainable Development. To access the final edited and published work see https://doi.org/10.1002/sd.3560
Abstract
This study examines the relationship between Environmental, Social, and Governance (ESG) practices and financial performance, incorporating a gender perspective. While ESG frameworks enhance investment attractiveness, the role of female leadership remains underexplored. Using a sample of EuroStoxx 300, the data was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The study assessed financial capital, investment attractiveness, and sustainability performance with gender representation as a moderating variable. The results confirm a positive relationship between financial capital and economic/social efficiency, while environmental efficiency presents mixed effects. Female board representation strengthens the link between investment attractiveness and financial capital. These findings contribute to the literature by integrating gender as a strategic factor in ESG-financing research and highlight the practical implication that companies should promote gender-diverse leadership to maximize the financial and strategic benefits of sustainable practices.
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Citation
Sustainable Development, 2025; 0:1–15
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