Note(s): This table presents the regression results of robustness tests examining the effect of female directors on water information disclosure by using PSM. Columns (1) and (4) detail how Gender_num, as an independent variable, influences water information disclosure. Meanwhile, Columns (2) and (5) detail how Gender_ratio, as an independent variable, influences water information disclosure. Lastly, Columns (3) and (6) describe how Gender_ind, as an independent variable, influences water information disclosure. 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