English Abstract
Abstract :
The current research presents fresh insights on empirically presenting the relationship between ownership structure and corporate sustainable performance of two emerging markets: Malaysia and Pakistan. Moreover, the moderating role of gender
diversity is observed on the relationship between ownership structure and corporate sustainable performance. Dynamic estimator, named system generalized method of moments, is used for estimations that control for potential dynamic endogeneity,
simultaneity, and reverse causality. Findings reveal that ownership concentration and state ownership are negatively related
to economic, social, and environmental indicators of CSP both in Malaysia and Pakistan, whereas directors’ ownership is
positively associated with all sustainability indicators. Financial institution’s ownership showed a positive signifcant impact
on CSP in Malaysia, whereas an insignifcant relationship is observed in Pakistan. Meanwhile, the moderating impact of
women directors on the relationship between ownership structure and corporate sustainable performance reveals a signifcant
impact in Malaysia and an insignifcant impact in Pakistan. Generally, the fndings of the study have practical implications
for regulatory authorities, securities commissions, and policymakers of Malaysia and Pakistan. Moreover, there is a need
to bring reforms into corporate governance structures in Pakistan, where weak economic conditions leave a frail impact of
ownership structure on CSP and an insignifcant moderating impact of board gender diversity.
Keywords Board gender diversity · Corporate sustainable performance · Global reporting index · Malaysia · Ownership
structure · Pakista
