Financing Businesses for Sustainable Growth: Economic, Social, and Environmental Drivers With A Gender Approach

Year: 2025

Type: article

Abstract: 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.

Source: Sustainable Development

DOI: 10.1002/sd.3560

Authors: José Manuel Santos‐Jaén, Patricia P. Iglesias‐Sanchez, Meda Nataliia, Carlos de las Heras Jambrino

Institutions: Universidad de Murcia, Universidad de Málaga, Lviv University

Language: English

Topic: Corporate Social Responsibility Reporting

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Reduced inequalities, Gender equality, Decent work and economic growth

Open Access status: hybrid

Estimated APC paid: $4,250

Funders: Universidad de Málaga, Ministerio de Ciencia, Innovación y Universidades, Ministerio de Ciencia e Innovación, European Regional Development Fund, Agencia Estatal de Investigación

OpenAlex ID: W4411237313