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PurposeRelying on the stakeholder view, this study investigates the role of CSR committee in moderating the association between CSR and firm performance (FP). Further, the authors examine whether country-specific governance and institutional factors drive the effect of CSR committee on the CSR-FP association.Design/methodology/approachThe study's sample includes 4405 firms from 39 countries over the period 2002–2020. For analysis, ordinary least squares (OLS) regression with year and firm fixed effects is employed as the primary econometric model. Two-step generalized method of movement (GMM) is employed to address the endogeneity issues.FindingsThis study provides international evidence that the existence of a CSR committee enhances CSR's contribution to FP. Moreover, the benefits of CSR committees in terms of enhancing the positive impact of CSR on FP are significantly greater in strong governance countries and in environmentally less sensitive industries. The findings are further checked through endogeneity and robustness tests and remain unchanged.Practical implicationsCSR committee is a key governance mechanism that assists firms in generating value from their CSR activities. It strengthens a firm's relations with the stakeholders via an effective CSR channel, which translates into improved FP and long-term value.Originality/valueThe study is the first attempt to investigate the role of CSR committee, as a corporate governance mechanism, in explaining the relationship between CSR and FP in the international context. Further, the study also found that the role of CSR committee in enhancing CSR's outcomes largely depends on country-specific governance factors and the nature of industries.

Human capital is a widely used concept in labor as well as in economics of education. The study examined return to schooling using data of 653 sample of higher education institutions of Khyber Pakhtunkhwa-Pakistan. The study also focused on estimating return to schooling with and without considering the endogeneity bias in schooling variable and compared the estimated return for public and private sector higher education institutions. Data was collected using well-designed questionnaire and the current study adopts Mincerian earning functions with its modified and extended forms using parental education as an instrument. The study found higher return to schooling for public sector respondents and reported considerable variation in estimated return after considering the endogeneity bias in schooling variable. Using an extended Mincerian earning function, the study found that higher return is associated with highest level of schooling and vice versa. Further investigation needed at micro and macro level along with critical evaluation of other instrumental variables for testing the endogeneity bias of schooling variable.