Variable measurement description
| Variables | Symbols | Description |
|---|---|---|
| Dependent variable | ||
| Eco-innovation index | ECOINN | Score of the firm adoption of eco-innovation practices. The score ranges from 0 (no practices) to 5 (all practices) |
| Independent variables | ||
| Board gender diversity | GEND | Percentage of female on the board of directors |
| Board meeting attendance | BMEET | The number of board meetings during the year |
| Board size | BSIZE | Total number of board members |
| Board-specific skills | SKILLS | Percentage of board members who have either an industry-specific background or a strong financial background |
| CEO-chairman separation | CEO | Dummy variable that takes value 1 if the CEO simultaneously chair the board or has the chairman of the board been the CEO of the company, 0 otherwise |
| CSR sustainability committee | CSR | Dummy variable that takes value 1 if the company has a corporate social responsibility committee, 0 otherwise |
| Environment management team | EMT | Dummy variable that takes value 1 if the company has an Environment Management Team, 0 otherwise |
| Independent board members | INDEP | Percentage of independent board members |
| Sustainability compensation incentives | SUST_INC | Dummy variable that takes value 1 if the senior executive’s compensation is linked to CSR/H&S/Sustainability targets |
| Control variables | ||
| Size | SIZE | The natural logarithm of the total premium written by the insurance company |
| Return on assets | ROA | The ratio between net income by total assets |
| Leverage | LEV | The ratio of total debts to total assets |
| Loss ratio | LOSS | The ratio of losses to premiums earned |
| Variables | Symbols | Description |
|---|---|---|
| Eco-innovation index | Score of the firm adoption of eco-innovation practices. The score ranges from 0 (no practices) to 5 (all practices) | |
| Board gender diversity | Percentage of female on the board of directors | |
| Board meeting attendance | The number of board meetings during the year | |
| Board size | Total number of board members | |
| Board-specific skills | Percentage of board members who have either an industry-specific background or a strong financial background | |
| CEO-chairman separation | Dummy variable that takes value 1 if the | |
| Dummy variable that takes value 1 if the company has a corporate social responsibility committee, 0 otherwise | ||
| Environment management team | Dummy variable that takes value 1 if the company has an Environment Management Team, 0 otherwise | |
| Independent board members | Percentage of independent board members | |
| Sustainability compensation incentives | SUST_INC | Dummy variable that takes value 1 if the senior executive’s compensation is linked to CSR/H&S/Sustainability targets |
| Size | The natural logarithm of the total premium written by the insurance company | |
| Return on assets | The ratio between net income by total assets | |
| Leverage | The ratio of total debts to total assets | |
| Loss ratio | The ratio of losses to premiums earned | |
This table describes the variables and their definitions
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.