Board Composition and Corporate Social Responsibility: An Empirical Investigation in the Post Sarbanes-Oxley Era

Zhang, Jason Q.; Zhu, Hong; Ding, Hung-Bin

doi:10.1007/s10551-012-1352-0

Cited by 386 publications

(373 citation statements)

References 64 publications

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“…Liao et al [3], Frias-Aceituno et al [20], Fernandez-Feijoo et al [21,22], Rao et al [23], and Barako et al [24] found increased female representation on the board to have a positive influence on the quality of CSR reporting. Furthermore, Zhang et al [25] stated that female directors are linked to better CSR performance within the firm's industry. They interpret CSR performance as the extent of the firm's moral legitimacy.…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

The Impact of Supervisory Board Composition on CSR Reporting. Evidence from the German Two-Tier System

2016

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Abstract:Corporate social responsibility (CSR) reporting is becoming increasingly relevant in light of modern corporate governance. There is growing activity among empirical research in one-tier systems that considers the link between board composition and CSR reporting. This study is the first of its kind on the German two-tier system with special regard for the supervisory board. We analyze gender diversity, expertise, the presence of former managers, frequency of meetings, and the size of the supervisory board. Our multiple regressions indicate that gender diversity has a positive impact on CSR disclosure intensity, which is in line with prior studies on one-tier systems. Our findings have implications for both users and public policy and suggest that current European corporate governance regulations could help to increase the decision usefulness of CSR reporting.

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Section: Literature Review and Hypothesesmentioning

confidence: 99%

The Impact of Supervisory Board Composition on CSR Reporting. Evidence from the German Two-Tier System

2016

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“…Focusing on the largest 100 Australian firms, Rao et al [16] found a positive relationship between board independence and CSP, measured by social and environmental disclosures. Furthermore, Zhang et al [148], focused on the 500 largest companies listed on the U.S. stock exchanges and concluded that having more outside directors on a corporation's board raises CSP levels. Cuadrado-Ballesteros et al [15] analyzed a sample of 1043 international companies and found that board independence has a positive effect on CSP.…”

Section: Linking Board Independence and Corporate Social Performancementioning

confidence: 99%

“…Several economics scandals occurred at the end of the twentieth century (e.g., Enron, Tyco, Worldcom and Parmalat, among others), which stimulated government regulation [2] intended to change the structure of firms' boards to ensure their efficiency [165]. Zhang et al [148] found that the Sarbanes-Oxley Act had a great impact on the structure of corporate boards and has produced an increase of outsider and women directors. This informs the second time-period considered, from 2002 to 2006.…”

Section: The Moderating Role Of Approaches To the Measurement Of Corpmentioning

confidence: 99%

Firms’ Board Independence and Corporate Social Performance: A Meta-Analysis

Ortas

Álvarez

Zubeltzu³

2017

Sustainability

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This paper investigates the influence of organizations' board independence on corporate social performance (CSP) using a meta-analytic approach. A sample of 87 published papers is used to identify a set of underlying moderating effects in that relationship. Specifically, differences in the system of corporate governance, CSP measurement models and market conditions have been considered as moderating variables. The results show that the independence of a company's board positively influences CSP. This is because companies with more independent directors in their boards are more likely to commit to stakeholder engagement, environmental preservation and community well-being. Interestingly, the results also show that the positive connection between board independence and CSP is stronger in civil law countries and when CSP is measured by self-reporting data. Finally, the strength of the influence of the independence of a firm's board on CSP varies significantly in different market conditions. The paper concludes by presenting the main implications for academics, practitioners and policy makers.

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“…However, there is more research on corporate social responsibility related to corporate environmental investment. Based on a sample of more than 500 listed companies in the United States, Zhang et al [22] found that a higher proportion of female directors will result in a higher performance level of corporate social responsibility. Having reviewed the literature on the relationship between board diversity and corporate social responsibility, Rao and Tilt [23] highlight the importance of linking the gender diversity on the board to the decision-making process of corporate social responsibility.…”

Section: Introductionmentioning

confidence: 99%

Female Directors and Corporate Social Responsibility: Evidence from the Environmental Investment of Chinese Listed Companies

Wei

Ding

2017

Sustainability

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Taking Chinese listed companies in 2008-2015 as the sample, in this paper we test in detail the impact of female directors on corporate environmental investments. Furthermore, we study the impact of female directors on environmental investment in enterprises with different types of ownership and industry attributes. Empirical studies show that when there are only 1 or 2 female directors on the board, no significant impact on the scale of corporate environmental investment can be seen. However, when the number reaches at least 3, female directors have a significantly positive impact on the scale of corporate environmental investment. This confirms critical-mass theory; meanwhile, we find that the empirical results do not indicate any significant correlation when the variable of female directors is measured by the proportion of female directors and the Blau index of gender balance. Further analysis suggests that in state-owned enterprises and enterprises from heavily-polluting industries, the above findings remain true, while in non-state-owned enterprises and enterprises from non-heavily-polluting industries, the above findings prove false, i.e., that the impact of female directors on corporate environmental investment is not significant. The conclusion demonstrates that the impact of female directors on environmental investment varies in enterprises with different types of ownership and industry attributes.

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Board Composition and Corporate Social Responsibility: An Empirical Investigation in the Post Sarbanes-Oxley Era

Cited by 386 publications

References 64 publications

The Impact of Supervisory Board Composition on CSR Reporting. Evidence from the German Two-Tier System

The Impact of Supervisory Board Composition on CSR Reporting. Evidence from the German Two-Tier System

Firms’ Board Independence and Corporate Social Performance: A Meta-Analysis

Female Directors and Corporate Social Responsibility: Evidence from the Environmental Investment of Chinese Listed Companies

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