Does Board Internationalization Affect Corporate ESG Performance? Evidence from Chinese A-Share-Listed Companies

This study empirically investigates whether board internationalization enhances corporate ESG performance, using data from Chinese listed companies from 2012 to 2022. The findings indicate that the introduction of foreign directors significantly improves corporate ESG performance, a conclusion that holds robust after various checks and addressing endogeneity concerns. Further analysis reveals that the positive impact of board internationalization on ESG performance is stronger in samples with older average management age and in high-pollution enterprises. By using Chinese companies as an example, this research uncovers the relationship between board internationalization and ESG performance, offering empirical evidence on how emerging market companies can enhance ESG performance through global human resource management.