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<p>The study advances the understanding of environmental innovation paradigm by investigating how board attributes influence environmental innovation in emerging markets. Using stakeholder and resource dependency theories, we developed models to assess the influence of board attributes on environmental innovation with board knowledge as the moderator. Using unbalanced panel data from 238 manufacturing companies in the Middle East and North Africa (MENA) region from 2010 to 2022, we conducted empirical analysis employing common correlated effects mean group (CCEMG) and augmented mean group (AMG) techniques, along with several endogeneity tests. The study found that board independence, gender diversity, sustainability committees, and foreign nationals positively impact environmental innovation. However, board size, CEO duality, and executive compensation negatively influence environmental innovation. Additionally, board knowledge is shown to moderate the connection between board attributes and environmental innovation. Firms would benefit from considering board members’ knowledge, expertise, and skills in making the best strategic decisions toward environmental innovation. Firms and policymakers should prioritize building the capacity of boards to drive sustainable methods and achieve better environmental outcomes.</p>

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Leveraging Board Knowledge and Governance for Environmental Innovation: Insights from Emerging Markets and Heterogeneous Analysis

  • 期刊论文

  • 发表日期：

    2025年10月22日

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  • Ishmael Wiredu,
  • Samuel Yayra Agbadzidah,
  • Prince Kofi Boadi

摘要

The study advances the understanding of environmental innovation paradigm by investigating how board attributes influence environmental innovation in emerging markets. Using stakeholder and resource dependency theories, we developed models to assess the influence of board attributes on environmental innovation with board knowledge as the moderator. Using unbalanced panel data from 238 manufacturing companies in the Middle East and North Africa (MENA) region from 2010 to 2022, we conducted empirical analysis employing common correlated effects mean group (CCEMG) and augmented mean group (AMG) techniques, along with several endogeneity tests. The study found that board independence, gender diversity, sustainability committees, and foreign nationals positively impact environmental innovation. However, board size, CEO duality, and executive compensation negatively influence environmental innovation. Additionally, board knowledge is shown to moderate the connection between board attributes and environmental innovation. Firms would benefit from considering board members’ knowledge, expertise, and skills in making the best strategic decisions toward environmental innovation. Firms and policymakers should prioritize building the capacity of boards to drive sustainable methods and achieve better environmental outcomes.