Title: Sustainability in the technology industry: board attributes, ESG and corporate financial performance in an emerging market

Authors: Angela Kit-Fong Ma; Yinfei Chen; Yiming Chen

Addresses: Faculty of Business and Management, Beijing Normal University-Hong Kong Baptist, University United International College, Zhuhai, China ' Faculty of Business and Management, Beijing Normal University-Hong Kong Baptist, University United International College, Zhuhai, China ' Faculty of Business and Management, Beijing Normal University-Hong Kong Baptist, University United International College, Zhuhai, China

Abstract: This study examines the relationship between the board attributes and the corporate social responsibility (CSR) performance of listed Chinese technology firms. It also examines the relationship between firms' CSR performance and financial performance. The sample consists of data on 1,585 listed technology firms from the 2011 to 2021 period. The CSR metrics in the form of environmental, social, and governance (ESG) scores are analysed using ordinary least squares and fixed-effects regression models. We find that board independence is the strongest driver of CSR performance. Board gender composition and board size have a significant negative effect on CSR performance. Furthermore, managerial overconfidence positively mediates the relationship between CSR and corporate financial performance. This study fills a gap in social sustainability research by applying an ESG perspective to the Chinese technology industry.

Keywords: technology industry; social responsibility; corporate financial performance; CFP; environmental; social; and governance; ESG; corporate social responsibility; CSR; board independence; board gender.

DOI: 10.1504/IJBGE.2025.144774

International Journal of Business Governance and Ethics, 2025 Vol.19 No.2, pp.198 - 225

Received: 04 Sep 2022
Accepted: 04 Aug 2023
Published online: 03 Mar 2025 *

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