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ORIGINAL RESEARCH PAPER
The Impact of Female Leadership on ESG Priorities in SMEs: Empirical Evidence from Bosnia and Herzegovina
by
Marina Riđić 1
, Nedim Čelebić 2 
Emir Ganić 3
1 University Sarajevo School of Science and Technology, Sarajevo, Bosnia and Herzegovina
2 University Sarajevo School of Science and Technology, Sarajevo, Bosnia and Herzegovina
3 University Sarajevo School of Science and Technology, Sarajevo, Bosnia and Herzegovina
ABSTRACT
This study explores the impact of female leadership on Environmental, Social, and Governance (ESG) performance in small and medium-sized enterprises (SMEs) in Bosnia and Herzegovina, a transitional economy. While prior research shows that gender-diverse boards improve corporate social responsibility (CSR) and ESG outcomes, most studies focus on large firms in developed markets. This study fills that gap by analyzing data from 131 SMEs that applied to the 2024 SDG Business Pioneers Award. Using descriptive statistics and correlation analysis, the research examines how women’s representation in management affects ESG priorities. Findings indicate a positive association between higher female participation and improved outcomes in ethics, innovation, productivity, and inclusivity. Companies with at least one-third women in leadership show stronger commitment to balanced and sustainable governance. In contrast, environmental practices are widely adopted across firms but appear less dependent on leadership composition. The study provides the first empirical evidence from Bosnia and Herzegovina on the gender–ESG link. It contributes to global debates on diversity and sustainability while offering practical insights for policymakers and managers. Promoting gender-inclusive leadership can enhance competitiveness, resilience, and alignment with international sustainability frameworks.
Keywords: female leadership, ESG performance, gender diversity, SMEs, Bosnia and Herzegovina
HOW TO CITE THIS ARTICLE
(2025). The Impact of Female Leadership on ESG Priorities in SMEs: Empirical Evidence from Bosnia and Herzegovina, MAP Education and Humanities, 6, 40-50. doi: https://doi.org/10.53880/2744-2373.2025.6.40