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Purpose This study aims to examine the relationship between carbon reduction initiatives and financial performance. Additionally, it explores potential moderating variables, such as corporate social responsible (CSR) strategy and corporate governance practices, that may strengthen the link between carbon reduction initiatives and financial performance. Design/methodology/approach The empirical analysis is conducted using 1,740 firm-year observations from UK firms listed on the FTSE 350. Data on carbon emissions and firm-specific characteristics are obtained from the Refinitiv Eikon database for the period 2011–2020. Various econometric techniques, including ordinary least squares and system generalized method of moments, are used to examine the relationship between carbon reduction initiatives and financial performance. Additionally, alternative samples are used to further explore this relationship. Findings The author observes a significantly positive association between carbon reduction initiatives and financial performance in this study. Additionally, the significance of this relationship is found to be present specifically after the announcement of the Paris Agreement. Furthermore, a channel analysis reveals that moderating factors like CSR strategy and corporate governance quality influence this relationship. Practical implications The study underscores the importance of carbon reduction initiatives for sustainable business growth and financial performance. Managers can use these insights to prioritize investments in sustainable practices. Policymakers should consider implementing supportive regulations to incentivize companies to adopt carbon reduction strategies. Originality/value This study adds value to the existing body of literature by empirically examining the moderating role of CSR strategy and best corporate governance practices in the relationship between carbon reduction initiatives and financial performance. The findings contribute to a deeper understanding of how these factors interact and influence the outcomes.

Purpose This study aims to investigate the relationship between board gender diversity and environmental, social and governance (ESG) controversies and to determine if a critical mass of female directors has a significant impact on ESG performance. Design/methodology/approach The study analyzes a sample of non-financial companies from 13 European countries between 2004 and 2021. The primary method used to reach conclusions was the pooled ordinary least squares regression. Additionally, the study used supplementary techniques such as alternative measurement, sub-sample analysis and two-stage least squares to enhance its reliability. Findings The results indicate that a higher representation of women on boards is correlated with a reduction in the number of ESG controversies, particularly when there are three or more female directors. Furthermore, the relationship between board gender diversity and ESG controversies may be affected by factors such as industry, governance and a company’s environmental performance. Practical implications This study suggests that increasing women’s representation on boards may mitigate ESG controversies and improve firm reputation and performance, especially in industries with high ESG risks. Policymakers can support this through policies, targets, training and inclusive practices. The findings also inform investors and stakeholders of the relationship between board gender diversity and ESG controversies. Originality/value This study expands the understanding of the relationship between board gender diversity and sustainable accounting and finance. It focuses on the effect that having female board members has on corporate policies, which is significant for shaping global policies that promote diversity on boards.

Purpose The purpose of this study is to analyze the correlation between a company’s efforts to reduce carbon emissions and its actual carbon performance. Additionally, the study investigates how female decision-makers may influence this relationship as moderators. Design/methodology/approach This study uses a data set consisting of 1,258 observations from companies listed on the STOXX Europe 600 index between 2009 and 2021. The study applies the ordinary least squares technique to investigate the connection between carbon reduction initiatives and actual carbon performance, taking into account the potential impact of board and executive gender diversity. To ensure the reliability of the findings, subsample analysis and a two-step generalized method of moments technique were used. Findings The results show a significant negative association between a firm’s commitment to environmental initiatives and its carbon emission intensity. Furthermore, the study explores the moderating effect of board and executive gender diversity on this relationship and finds that gender diversity has a significant negative impact on the relationship between emissions reduction initiatives and carbon emissions. Practical implications The study has practical implications for corporate sustainability efforts. It highlights the importance of implementing carbon reduction initiatives to effectively mitigate carbon emissions. This emphasizes the need for sustainable business strategies that prioritize environmental initiatives. Additionally, the study underscores the positive impact of gender diversity in leadership positions on carbon reduction efforts. Policymakers and organizations can leverage these findings to promote gender diversity and enhance sustainability practices. Social implications It provides evidence-based insights for policymakers to develop specific policies and action plans in priority areas such as climate change and emissions reduction. It also highlights the positive influence of gender diversity in corporate leadership on environmental initiatives, promoting inclusivity and equality in sustainability practices. Originality/value This study brings originality by investigating the direct impact of a company’s carbon reduction initiatives on its carbon performance. It also explores the moderating effect of board and executive gender diversity on this relationship. The study provides evidence-based insights for policymakers and applies neo-institutional theory to analyze the interplay between carbon reduction initiatives, carbon emissions and gender diversity in executive and board positions.

Purpose The study aims to investigate the relationship between renewable energy use and financial performance in non-financial companies in European countries. Design/methodology/approach This study examines a panel data set consisting of 1,919 firm-year observations of non-financial companies operating in 13 European nations, covering the period from 2014 to 2021. The study uses the ordinary least squares (OLS) and the two-stage least squares method (2SLS) as the baseline models and further enhances robustness with sub-sample analysis. Findings The results demonstrate a positive link between renewable energy use and financial performance, and these results hold up across different measurements, sub-sample analysis and model specifications, demonstrating their robustness. Furthermore, the results indicate that some factors such as the industry nature and environmental, social and governance (ESG) controversies have an impact on this positive association. Practical implications The findings are substantial for both policymakers and companies, highlighting the benefits of incorporating renewable energy into their operations for improved business success. Originality/value This study adds to the existing body of literature on the effect of environmental performance on a company’s success by focusing on a novel aspect – the correlation between renewable energy usage and firm performance. It responds to the recent request from researchers to investigate different aspects of sustainability, with a specific emphasis on renewable energy, which is a vital factor in reducing carbon emissions and improving financial performance.

Purpose This study aims to investigate the link between carbon emissions and market value for nonfinancial companies in the STOXX Europe 600 index, with a specific focus on the moderating effect of executive compensation. Design/methodology/approach To achieve the study’s purpose, this study uses data from the STOXX Europe 600 index between 2010 and 2021. The researchers use ordinary least squares regression analysis to examine the relationship between carbon emissions and market value while taking into account the moderating effect of executive compensation. The study also uses additional tests, such as the dynamic two-step system generalized method of moments regression and the difference in differences method. Findings The study reveals four key findings. First, there is a statistically significant negative relationship between carbon emissions and market value. Second, executive compensation has a negative moderating effect on the association between carbon emissions and market value. Third, Say-on-Pay regulations can encourage companies to adopt environmentally responsible practices, which can positively impact their market value. Finally, the study shows that the Paris Agreement motivates companies to prioritize sustainability, leading to potentially higher market values for those that are more environmentally responsible. Practical implications This study highlights the importance of considering environmental sustainability in corporate decision-making. It suggests that prioritizing sustainability can lead to financial benefits, as companies with lower carbon emissions tend to have higher market values. The findings also have important implications for regulators and investors. Originality/value This study provides novel insights into the link between carbon emissions and market value and the moderating effect of executive compensation. It also sheds light on the potential impact of Say-on-Pay regulations and the Paris Agreement on corporate sustainability practices and market values.

Purpose This paper aims to examine how the diversity of educational levels within bank boards influences the efficiency and stability of banks operating in the Middle East and North Africa (MENA) region. Unlike previous studies, this analysis also investigates the role of board gender diversity in moderating the relationship between board educational level diversity and bank efficiency and financial stability in MENA. Design/methodology/approach In this study, a sample of 77 banks in the MENA region spanning the years 2011 to 2018 is used. The relationship between the presence of highly educated directors on the board, bank efficiency and stability is assessed using the ordinary least squares method. Additionally, the authors use the Generalized Method of Moments technique to correct endogeneity problem. Findings This study establishes a positive association between the presence of directors with advanced educational backgrounds on bank boards and bank efficiency and stability. Furthermore, the inclusion of women on the board strengthens this relationship. Practical implications These findings have important implications for policymakers and regulators in the MENA region, suggesting that promoting diversity policies that encourage the participation of highly educated directors on bank boards can contribute to enhanced efficiency and financial stability. Policymakers may also consider implementing quotas or guidelines to improve gender diversity in board appointments, thereby fostering bank performance in the region. Originality/value This study stands out for its innovation and distinctiveness, as it delves into the connection between board educational level diversity and bank efficiency in the MENA region. Notably, it surpasses previous research by investigating the moderating role of board gender diversity, thus offering valuable insights into the complex interplay between these two facets of board diversity. This contribution enriches the existing literature by providing novel perspectives on board composition dynamics and its influence on bank efficiency and stability.

Analytical methods for meat-species identification and detection of adulteration are always needed for quality control and the safety of consumers. A novel application of PLS-Kernel with MIR for quick detection of pork in beef mixes down to 1.4 wt% is outlined. PLS-Kernel algorithm showed an excellent performance for handling many variables spectral data, which makes it suitable for food analysis by IR. Raw spectral data indicated a nonlinear relationship between pork level and IR band intensities of proteins and fats in the mixes. The ratios A 1654 c m - 1 amid-I / A 1745 c m - 1 (C=O band of ester), A 154 0 c m - 1 amid-II / A 1745 c m - 1 , and A 1395 c m - 1 + A 145 0 c m - 1 / A 1175 c m - 1 were correlated with pork level to establish a useful analytical signal for detection purposes. Chemometric analysis was carried out on 900–1900 cm −1 as an informative spectral range for protein. PLS-Kernel model is recommended over PCR and PLS for handling many variables in IR data due to the lower computation cycles and less-memory storage. The proposed method would replace advanced techniques for quick pork detection in minced meat mixes. Graphical abstract

Purpose This study aims to examine the impact of board gender diversity on the level of corporate social responsibility (CSR) disclosure in the Arab Gulf states. Also, this research further aims to explore whether the impact of board gender diversity varies across the Arab Gulf states. Design/methodology/approach Ordinary least squares regression is used in this study to test the impact of board gender diversity on the level of CSR disclosure. Manual content analysis is used to evaluate the extent of CSR disclosure in annual reports, stand-alone CSR reports, sustainability reports and website sections to examine the relationship between the extent of CSR reporting and board gender diversity. This study uses the global reporting initiative (GRI) fourth version reporting guidelines to design and define the classifications of CSR reporting checklist. Findings The findings show that there is a statistically significant relationship between the number of female directors and the level of CSR disclosure. The results show that board gender diversity is positively associated with the level of CSR reporting in two countries, namely, Bahrain and Kuwait. Also, the findings reveal that there is a weak positive relationship between the presence of women on the boards and CSR reporting index in Oman, Qatar, Saudi Arabia and the UAE. Originality/value This study attempts to fill the gap in the literature, in that no similar study covers the Arab Gulf countries as one economic unit. The study is unique in that it focuses on oil-rich countries. This study is, to the best of this researcher’s knowledge, the first to explore the impact of women’s boards on the extent of CSR reporting, as well as investigating the possible variation of board gender diversity impact on the extent of CSR reporting in the Arabian Gulf region.

A simple analytical procedure is proposed for simultaneous determination of three common dyes (Basic Blue 9, Brilliant Blue E-4BA, and Reactive Blue 2) in natural waters without prior separation of the solutes. A popular chemometric method, partial least squares regression PLS-1, was effectively applied for spectral resolution of a highly overlapping system. At the best modeling conditions, mean recoveries and relative standard deviations (RSD) for dyes quantification by PLS-1 were found to be 102.1 (4.4), 95.7 (8.4), and 98.9 (6.2) for Basic Blue, Brilliant Blue, and Reactive Blue, respectively. The estimated limits of detection (LOD) were estimated using net-analyte signal concept and were 0.11, 0.52, 0.49 mg L−1 for Basic Blue, Brilliant Blue, and Reactive Blue, respectively. The quantitative determination of dyes spiked in real water samples was carried out successfully by PLS-1 with satisfactory recoveries for dyes (90–106%).