Resumo

HERNANDEZ PAJARES, Julio; CHAU MIYAKAWA, Kiara  e  MANSILLA MAHMUD, Macarena. Impact of ESG Performance on the Profitability of MILA Companies: The Moderating Role of Board Composition. The Anáhuac j. [online]. 2025, vol.25, n.1, e2845.  Epub 05-Ago-2025. ISSN 2683-2690.  https://doi.org/10.36105/theanahuacjour.2025v25n1.2845.

This study examines the relationship between ESG (environmental, social, and governance) scores and corporate profitability, focusing on the moderating effects of board composition and the presence of a sustainability committee. A panel data regression analysis was used for the study, based on data from the Dow Jones Sustainability Index MILA Pacific Alliance and the annual reports of 56 “Best in Class” companies from 2020 to 2022. The results reveal a positive and significant impact of environmental and social ESG scores on ROA (return on assets) and environmental and governance scores on ROE. Furthermore, the presence of women on boards significantly moderates the relationship between ESG scores and ROA and ROE. Board size and independence significantly moderate the relationship between governance ESG score and ROE. The sustainability committee also positively moderates the link between environmental ESG scores and ROE. This study contributes to the literature on the relationship between ESG criteria and profitability, highlighting the moderating role of corporate governance in contributing to Latin American companies’ involvement in sustainable development.

Palavras-chave : ESG Scores; Board Composition; Corporate Governance; Sustainability Committee; MILA market.

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