“…In this second equation, in addition to the previous control variables, we also incorporated the logarithm of directors' remunerations (REMUNERATION) as an explanatory variable of the presence of women in the AC. Although director remuneration should not differ by sociodemographic attributes, recent research has highlighted that female directors receive lower compensation than their male counterparts (Bozhinov, Koch, & Schank, ; Fedaseyeu, Linck, & Wagner, ; Field et al, ). The results, presented in Table , confirm the existence of a link between voluntary ESG disclosure and gender diversity in the AC.…”