Hassel, Kallunki, and Nilsson (2012)
Hassel, Lars G., Juha-Pekka Kallunki, and Henrik Nilsson. “Implications of Past Unethical Risk Behaviour of Board Members and CEOs on the Environmental Performance and Reporting Quality of Firms.” Working paper (Åbo Akademi University, School of Business and Economics, and Umeå University, Umeå School of Business, Turku, Finland), June 29, 2012.
From the authors' abstract: "We investigate how the past unethical risk behaviour of board members and top executives relates to the environmental performance and the quality of environmental reporting of Swedish listed firms... Our results show a negative relation between board members’ [past conduct] and the environmental performance of the firm. Boards with a higher proportion of risk-prone, unethical members seem to focus less on the environmental concerns of their businesses... In accordance with prior research, we also document a positive relation between the proportion of women on the board and the environmental performance of the firm."