Ownership structure, stakeholder engagement, and corporate social responsibility policies: The moderating effect of board independence

Abstract

This study primarily purposes to empirically examine the impact of stakeholder engagement mechanism in the form of professional shareholders on the corporate social responsibility (hereafter CSR) disclosure and how the previous nexus is shaped and moderated by the level of board independence within a dynamic framework. An María Consuelo Pucheta-Martínez https://orcid.org/0000-0002- 2209-5202ENDNOTES 1 Strictly endogenous; means that firm's past/current CSR disclosure level affects the current/future the structure of firm's ownership. The results are unreported to save space but available from the authors upon request.2 Because one of the main assumption of OLS that there is no association between regressors and the error term, having endogenous explanatory variable (X is affected by Y) in our model will generate biased OLS results.

Sustainable social responsibility through stakeholders engagement

“…In the search for the lines that emerge in this area of study, Agency Theory continues to support authors such as Zaid, Abuhijleh, and Pucheta‐Martinez (2020) in understanding aspects of corporate social commitment and the extent to which institutions, shareholders and governments influence a company's corporate responsibility reports.…”

“…In the search for the lines that emerge in this area of study, Agency Theory continues to support authors such as Zaid, Abuhijleh, and Pucheta-Martinez (2020) Likewise, the study of the establishment of audit committees and the analysis of the profile of their members in the corporate governance structure is presented as a very interesting line of investigation since their existence and characteristics would improve the credibility and transparency of the company and, therefore, the disclosure of the CSR.…”

“…The new emerging lines of research on the study of diversity and gender on the boards of directors, with the aim of finding out if characteristics such as age or sex could influence decision-making on the corporate social commitment of the institutions. Following the theoretical model of the Stakeholders, authors such as Javed, Rashid, Hussain, and Ali (2020) continue to investigate the effects that CSR has on financial performance, providing results that suggest further research on socially responsible initiatives and their influence on corporate reputation and financial performance.Recent articles such as that ofZaid et al (2020) on CSR and FP continue to highlight the relationship between the two and how a manager's decision to invest in CSR stock, and a shareholder's decision to invest in socially committed companies, seem to remain positively linked, insofar as these investigations can provide managers with information on CSR performance expectations and their evolution over time, and on the other hand, investors are beginning to learn to value responsible companies more within an industry.…”

Stakeholder engagement in sustainability reporting: A classification model

“…Although the literature demonstrates the importance of stakeholder engagement quality (Venturelli, Cosma, & Leopizzi, 2018; Zaid, Abuhijleh, & Pucheta‐Martínez, 2020), there is no classification of engagement that simultaneously assesses the engagement levels and the focus and extent of engagement actions. Therefore, we have developed a way to classify the stakeholder engagement level adopted by firms operating in different countries and analyzed their engagement focus and extent.…”

Corporate Governance Configurations and Corporate Social Responsibility Disclosure: Qualitative Comparative Analysis of Audit Committee and Board characteristics

“…Katsifaraki, 2016). In contrast, Muttakin et al (2015) find a negative relationship, and they conclude that women directors do not have enough education and experience to improve CSR reporting practises.Several investigations(Adams, Almeida, & Ferreira, 2005;Khan et al, 2013;Zaid, Abuhijleh, & Pucheta-Martínez, 2020;Zubeltzu- …”