Impact of Board Gender Diversity and ESG Practices on Firm Performance: Evidences from India

Asset Turnover ratio, Women on board, Board Independence, Environmental, Social & Governance, Board Size

Women participation in corporate boards has been identified as a noteworthy factor in improving governance and overall firm performance. Many researchers indicate that diversity in terms of gender in corporate board contributes in improving firm’s decision making, risk management and overall perspective. ESG factors are crucial in determining the ethical and sustainable impact of a firm’s operations. Firms which aimed to bring more ESG practices in their operations tend to perform better in the long run. The main objective of this study is to examine the impact of the board gender diversity and ESG practices on firms’ performance and data were extracted from SP Global, Money control and NSE Database for the period 2019 to 2025. There are 28 companies and 140 observations considered as sample of the study. Tools used for this study are Descriptive analysis and Multiple Regression. This research would help to identify the factors influencing Board Gender diversity and control variables on Environment, Social, Governance and ESG and its effect on firm performance. From the findings of the study, it was identified that ATR, BINDEP, BSIZE, LEV and LNTA have significant impact on ESG. It is also observed that ATR, BSIZE, BINDEP and LNTA have significant effect on social and Environmental variable whereas BINDEP, WOB, BSIZE and LNTA have significant impact on Governance variable.