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This study sets out to examine the effect of board and audit committee characteristics on the performance of firms in the Middle East, and whether this relationship is moderated by the environment, social and governance (ESG) variable. The studied relationship was assessed using the static panel data method, specifically via the measure of Return on Equity over the period from 2017 to 2023 of which data was derived from the Thomson/Refinitiv database. The findings assert that board composition and firms’ size impact firm performance in a negative and significant manner. Meanwhile, ESG affects firm performance in a positive manner. Additionally, ESG score was found to positively and significantly moderate the relationship among board size and board gender diversity and firm performance. These findings add to the body of knowledge regarding the significance of corporate governance for Middle East firms. Policymakers and firms in this region specifically can use these findings to improve governance and performance.
Altarawneh et al. (Wed,) studied this question.