Note(s): This table presents the regression results of robustness tests examining the effect of female directors on water information disclosure using other alternative measures of the independent variable. Column (1) shows the impact of female directors on water disclosure; Column (2) presents the results for water sensitivity as a moderator. The t-values are given in parentheses next to the coefficients. All variables are defined in  Appendix 1. ***p < 0.01, **p < 0.05, *p < 0.1