Board Composition and Corporate Social Responsibility Performance: Evidence from Chinese Public Firms

Zhuang, Yiming; Chang, Xinyue; Lee, Younggeun

doi:10.3390/su10082752

Cited by 56 publications

(83 citation statements)

References 81 publications

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“…Additionally, POLTC have strong relationships with the government and know the best practices regarding the law and rules relating to financial stability, which may provide management with strong assistance in fighting corruption and financial crimes. Our findings are supported by those of prior studies of Zhuang et al [95], Cheng et al [36], Gu et al 2013 [7] and Claessens et al [39]. Agrawal and Knoeber [31] report that having POLTC on the board enhances negotiating and lobbying power with the government, while also reducing the explicit costs and trade barriers of the firm.…”

Section: Resultssupporting

confidence: 90%

“…Kusnadi et al [59] investigated ACCTE and the financial reporting quality (FRQ) of US firms, finding that ACCTE were positively and significantly associated with FRQ due to their strong professional knowledge and positive role modeling signals. Moreover, Al-Shaer and Zaman [9] and Zhuang et al [95] have reported that ACCTE and the presence of professional individuals on the board profoundly increases the credibility of sustainability disclosure. The findings also show that external expert directors reduce agency conflict by disclosing authentic CCD.…”

Section: Resultsmentioning

confidence: 99%

“…Agrawal and Knoeber [31] report that having POLTC on the board enhances negotiating and lobbying power with the government, while also reducing the explicit costs and trade barriers of the firm. Cheng et al [36] and Zhuang et al [95] have investigated Chinese listed firms' political connections, finding that political engagement enhances information disclosure in order to show the transparency and accountability of the management.…”

Section: Resultsmentioning

confidence: 99%

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Board Directors’ Expertise and Corporate Corruption Disclosure: The Moderating Role of Political Connections

et al. 2019

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Professional expert directors extensively influence corporate corruption disclosure (CCD), while higher political connections may exacerbate corporate management. This study investigates the relationship between the presence of external experts on a board and CCD, as well as the moderating effect of political connections, on the positive role of legal experts in CCD. The study combines agency, resource dependence and stakeholder theories to show how resourceful directors on the board can promote corruption disclosure. Using data on listed firms in the Bangladeshi financial sector, the study analyzes 247 firm-year observations from 2012 to 2016. The results of a multiple regression analysis indicate that accounting experts, legal experts, political connections and corporate media visibility each have a positive and significant influence on CCD. Moreover, the moderating effect of political connections on the relationship between legal experts and CCD is negative and significant due to their higher political influences. The study has significant implications for corporate governance and for policies concerning the development of the economy while reducing corruption.

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Section: Resultssupporting

confidence: 90%

Section: Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

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Board Directors’ Expertise and Corporate Corruption Disclosure: The Moderating Role of Political Connections

et al. 2019

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“…Other studies have demonstrated that good governance decreases the cost of capital [52,53], increases the firm value [54,55], and provided stability during the global financial crisis [56]. Studies also have proven that good governance structure improves firms' CSR activities [57][58][59]. As the monitoring mechanism that solves the agency problems, it is expected that good governance enforces a CEO not to keep short-termism; as a result, CSR investment will no longer be a reluctant choice for a CEO immediately after his/her new job or just before his/her resignation.…”

Section: Hypothesismentioning

confidence: 99%

CEO Tenure, Corporate Social Performance, and Corporate Governance: A Korean Study

2019

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The purpose of this study was to examine the association between Chief Executive Officer (CEO) tenure and corporate social performance with the moderating effect of governance. We investigated whether new CEOs and CEOs in their last year of service were more focused on short-termism than CEOs of other periods. Specifically, we tested whether these CEOs reduced social performance that demands immediate expenditure and expect payoffs in the long run. We also tested whether good governance can mitigate such behaviors, because not all CEOs of the same tenure will act the same, depending on the monitoring environments surrounding them. We employed ordinary least squares (OLS) method and the moderator models using data from the Korean listed companies from 2012 to 2016. Test results showed that only the CEOs of their last year reduced social performance. However, when we considered corporate governance, we found that both groups of CEOs reduced social performance, and that good governance mitigated the adverse effects of the two periods on Corporate Social Responsibility (CSR). Specifically, we tested board independence, board frequency, CEO duality, and board diversity, and found that, for all but board independence, the negative effects of the two periods on social performance were decreased.

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“…Hence, efforts to incorporate social sustainability initiatives are sometimes symbolic rather than substantive [57,58]. However, other scholars argue that, increasingly, firms pay attention to social responsibility and see it as a mechanism to gain a competitive edge [59,60]. There is also increased pressure on corporations to inform the public about social responsibility activities.…”

Section: Social Responsibility and Social Sustainabilitymentioning

confidence: 99%

Diversity, Equity, and Inclusion and the Salience of Publicly Disclosing Demographic Data in American Environmental Nonprofits

2019

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There has been a scholarly interest in the demographic characteristics of American environmental organizations since the 1960s, but until recently there was no readily available way of knowing the composition of the staff or board of these institutions as few revealed any of their demographic data publicly. For the past five years, there has been a high-profile campaign to get environmental nonprofits to disclose their demographic data. This paper examines 12,054 small, medium-sized, and large environmental organizations to find out how many of them have released diversity data on GuideStar. The article also examines how the state in which organizations are located, region of the country, urban or rural setting, organizational typology, amount of revenue, size of the staff, size of the board, gender of the chief executive officer (CEO), race of the CEO, and the year of completion of the GuideStar profile influenced the disclosure of diversity data. The researchers collected financial data from Internal Revenue Service tax forms and diversity data from GuideStar. The study found that 3.7% of the nonprofits studied divulged diversity data. However, organizations in the Pacific and Mid-Atlantic regions were most likely and nonprofits in the South least likely to report diversity data. Urban nonprofits were more likely to divulge diversity data than those located in the suburbs or in the rural areas. The highest level of reporting was in Washington, D.C. In addition, environmental justice organizations were more likely to disclose diversity data than other types of organizations. The larger the staff and the higher the revenue, the more likely it is that the organization divulged its diversity data. Organizations with female CEOs were more likely to reveal diversity data than male-headed nonprofits. Environmental organizations with ethnic/racial minority CEOs were also more likely to disclose demographic data than organizations with white CEOs.

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Board Composition and Corporate Social Responsibility Performance: Evidence from Chinese Public Firms

Cited by 56 publications

References 81 publications

Board Directors’ Expertise and Corporate Corruption Disclosure: The Moderating Role of Political Connections

Board Directors’ Expertise and Corporate Corruption Disclosure: The Moderating Role of Political Connections

CEO Tenure, Corporate Social Performance, and Corporate Governance: A Korean Study

Diversity, Equity, and Inclusion and the Salience of Publicly Disclosing Demographic Data in American Environmental Nonprofits

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