Purpose – This study aims to examine whether and how gender diversity on corporate boards is associated with voluntary nonfinancial disclosures, particularly water disclosures. Design/methodology/approach – This study uses corporate water information disclosure data from Chinese listed firms between 2010 and 2018 to conductregression analyses to examine the association between female directors and water information disclosure. Findings – Empirical results show that female directors have a significantly positive association with corporate water information disclosure. Additionally, internal industry water sensitivity of firms moderates this significant relationship. Originality/value – This study determined that female directors can promote not only water disclosure but also positive corporate water performance, reflecting the consistency of words and deeds of female directors in voluntary nonfinancial disclosures.

This study investigates the relationship between gender diversity on the board and dividend payouts in China using a large sample over the period 2003–2017. Our results provide robust and strong evidence showing that gender diversity on the board is positively associated with cash payments of dividends. The empirical outcomes confirm that gender diversity on the board facilitates corporate governance and subsequently promotes dividend payouts. We demonstrate that gender diversity on the board has the greatest effect when the board has critical mass participation (three or more female directors) compared with only their token participation. However, independent female directors increase dividend payouts, while female executive directors do not have a significant impact. Furthermore, we extend the literature on the relationship between dividend payments and government ownership by providing evidence that gender diversity has a higher impact on dividend payouts for state-owned enterprises than non-state-owned enterprises. After controlling the endogeneity problems, our findings are reliable and robust.

This study conducts a firm-level analysis of the impact that the gender diversity of boards of directors has on corporate philanthropic responses to disasters. We predict a negative relationship between diversity and philanthropic contribution; as the relationship is stronger in listed firms with a better-developed institutional environment. Data were collected on the philanthropic responses of listed Chinese firms to the 5.12 Wenchuan earthquake in 2008. These data support the hypothesized negative relationship and show that it is stronger in higher level vs. lower level marketization environments; the relationship is weaker in listed firms with average gender diversity that have political connections. We also find evidence that agency cost theory explains corporate philanthropic disaster response much better than strategic philanthropic theory since women on boards of directors do not facilitate corporate donation process but rather evaluate the benefits of corporate responses to disasters. These benefits depend on the level of marketization and separation from the government, especially for listed firms with average gender diversity in China. These constructive results provide the first examination of the moderating role of institutional environment on the relationship between gender diversity and corporate philanthropic behaviors. We discuss the implications of this work for further research on diversity considering the interaction with the corporate context.