The impact of board gender diversity on ESG ranking and potential (TSX S&P)

Principal Investigator: Sana Mohsni, Finance
Project Title: Board Gender Diversity and Firm Environmental, Social, and Governance Ranking: Evidence from Canada
Funder: SSHRC Partnership Engage Grant
Partner: Millani Inc.

This partnership with Millani Inc., an advisory firm that works on the integration of environmental, social, and governance (ESG) concerns within investors’ and corporate issuers’ strategic processes, has two goals:

1. To study the relationship between board gender diversity (BGD) and ESG ratings of Canadian firms, listed on the TSX S&P composite index, over the period 2010-2021
2. To explore how the relationship between BGD and ESG ratings change over time and between the 11 industries of the S&P TSX composite index

As the first comprehensive study of the relationship between BGD and ESG of Canadian firms, this research will contribute to the literature while equipping Millani Inc. with the knowledge they need both to provide better ESG advice to corporate clients and investor professionals and to enhance the metrics currently used to assess firms’ ESG rankings and potential.