Descriptive statistics of the variables
| Min | Max | Mean | Median | Std. Dev | |
|---|---|---|---|---|---|
| Dependent variables | |||||
| ESG performance (ESG_perf) | 30.1725 | 89.4332 | 61.3474 | 61.3646 | 13.3738 |
| Independent variables | |||||
| Board size (B_size) | 23 | 7 | 14.2504 | 14.0645 | 4.6770 |
| Board gender diversity (B_gend) | 0 | 0.4267 | 0.3247 | 0.1025 | 0.3978 |
| Board mass of gender diversity (B_mgend) | 0 | 1 | 0.3153 | 0.3796 | 0.3059 |
| Board age (B_age) | 52.4462 | 65.4060 | 58.4242 | 58.4006 | 2.4342 |
| Board activity (B_act) | 1.089 | 3.677 | 2.037 | 2.044 | 0.526 |
| Board independence (B_ind) | 0 | 1 | 0.6085 | 0.6166 | 0.2741 |
| CSR/sustainability committee (CSR_com) | 0 | 1 | 0.5840 | 0.5999 | 0.4976 |
| Control variables | |||||
| Bank size (Size) | 6.8634 | 9.4309 | 7.8265 | 7.8028 | 0.6542 |
| Leverage (Lev) | 0.0176 | 0.2129 | 0.0747 | 0.0853 | 0.0455 |
| Return on equity (Roe) | −2.7792 | 0.7187 | 0.0416 | 0.0678 | 0.2042 |
| GDP per capita (Gdp) | −12.5154 | 9.5076 | 0.0827 | 0.1595 | 3.6763 |
| Min | Max | Mean | Median | Std. Dev | |
|---|---|---|---|---|---|
| Dependent variables | |||||
| ESG performance (ESG_perf) | 30.1725 | 89.4332 | 61.3474 | 61.3646 | 13.3738 |
| Independent variables | |||||
| Board size (B_size) | 23 | 7 | 14.2504 | 14.0645 | 4.6770 |
| Board gender diversity (B_gend) | 0 | 0.4267 | 0.3247 | 0.1025 | 0.3978 |
| Board mass of gender diversity (B_mgend) | 0 | 1 | 0.3153 | 0.3796 | 0.3059 |
| Board age (B_age) | 52.4462 | 65.4060 | 58.4242 | 58.4006 | 2.4342 |
| Board activity (B_act) | 1.089 | 3.677 | 2.037 | 2.044 | 0.526 |
| Board independence (B_ind) | 0 | 1 | 0.6085 | 0.6166 | 0.2741 |
| CSR/sustainability committee (CSR_com) | 0 | 1 | 0.5840 | 0.5999 | 0.4976 |
| Control variables | |||||
| Bank size (Size) | 6.8634 | 9.4309 | 7.8265 | 7.8028 | 0.6542 |
| Leverage (Lev) | 0.0176 | 0.2129 | 0.0747 | 0.0853 | 0.0455 |
| Return on equity (Roe) | −2.7792 | 0.7187 | 0.0416 | 0.0678 | 0.2042 |
| GDP per capita (Gdp) | −12.5154 | 9.5076 | 0.0827 | 0.1595 | 3.6763 |
Note(s): Panel data for the period 2017–2021
Source(s): Table by authors
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