The effect of board gender diversity on corporate social performance: An instrumental variable quantile regression approach

Bruna, Maria Giuseppina; Đặng, Rey; Ammari, Aymen; Houanti, L’Hocine

doi:10.1016/j.frl.2020.101734

Cited by 47 publications

(31 citation statements)

References 39 publications

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“…Some studies suggest no relation whatsoever [6,[52][53][54]. The aggregate level CSP, however, suggests an overall positive relationship with outcomes of firms [55][56][57][58][59][60][61][62][63][64]. We hypothesize on the bases of positive findings of the broader concept of CSR and gender diversity as follows:…”

Section: Corporate Social Performance and Board Gender Diversitymentioning

confidence: 96%

“…Different variables are worked out for moderation and mediation, which suggests the path of influence of BGD on CSP. For example, Boulouta [64] have worked out renewable energy as a mediator in this regard in the oil and gas industries. The pattern of the previous studies depicts the generalization of results obtained on the bases of datasets from firms of specific industries, which poses the issue of robustness as different industries have different characteristics and institutional context [65,66].…”

Section: Industry Effectmentioning

confidence: 99%

“…We have taken inspiration from the previous literature on the relationship between BGD and firm's CSP while selecting the control variables for this the study [71,81]. Here, we have included (ROA) return on assists [81,82] (Fage) firm age [83], (Fsize) firm size [83,84], Institutions share, (Bsize) board size [85], (SOE) state-owned enterprises, (Fgrowth) firm growth [86], (Growop) growth opportunity, (Fleverage) financial leverage [64,87] and (BINDEP) board independence [88,89].…”

Section: Control Variablesmentioning

confidence: 99%

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Board Gender Diversity and Corporate Social Performance in Different Industry Groups: Evidence from China

et al. 2021

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This paper examines the heterogeneous links between board gender diversity and corporate social performance in different industries across China. OLS regression models are approximated using the data of Chinese industries from 2009 to 2015. Robustness test and two-stage least square (2SLS) methods are incorporated to cater for robustness and endogeneity. Board gender diversity (BGD) stimulates corporate social performance (CSP) of firms with environmental and social risk exposure regardless of critical mass and directors’ independence. It does so for firms with governance risk exposure while incorporating the critical mass effect and the director’s independence. Overall, the positive effect of BGD is prevalent in different industries at an aggregate level while considering firms with an overall ESG risk exposure. The findings imply that BGD can mitigate the ESG risk exposure in terms of enhancing the CSP and the advantage can be transpired with the inclusion of even one female director (independent or executive) to the board. The study also highlights that BGD enhances CSP in industries with more environmental and social risk exposure while doing so in industries with governance risk exposure after complementation by critical mass and independent director effects.

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Section: Corporate Social Performance and Board Gender Diversitymentioning

confidence: 96%

Section: Industry Effectmentioning

confidence: 99%

Section: Control Variablesmentioning

confidence: 99%

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Board Gender Diversity and Corporate Social Performance in Different Industry Groups: Evidence from China

et al. 2021

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“…In the presence of an endogenous treatment variable, an instrumental variable quantile regression (IVQR) model has been widely applied in empirical studies (e.g., Bruna et al, 2020;Chang et al, 2018;Sanglestsawai et al, 2014). For example, using the IVQR model and farm-level survey data from the Philippines, Sanglestsawai et al (2014) estimated the heterogeneous yield effects of Bt corn adoption and found that lower-yielding farmers benefit more from Bt corn adoption than high-yielding farmers.…”

Section: Model Selectionmentioning

confidence: 99%

“…For example, using the IVQR model and farm-level survey data from the Philippines, Sanglestsawai et al (2014) estimated the heterogeneous yield effects of Bt corn adoption and found that lower-yielding farmers benefit more from Bt corn adoption than high-yielding farmers. By estimating the IVQR model, Bruna et al (2020) showed that the impact of board feminization on corporate social performance is nonlinear and changes along the quantiles of the performance distribution. However, the IVQR model relies on conditional quantile regression (CQR) in estimations, which offers a narrow interpretation of the heterogeneous effects of cooperative membership because the distributions of farm financial performance indicators are assumed to explicitly depend on the level of other conditional variables in the quantiles.…”

Section: Model Selectionmentioning

confidence: 99%

Effects of cooperative membership on financial performance of banana farmers in China: A heterogeneous analysis

Zheng

Zhu

et al. 2021

Ann Public Coop Econ

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This paper estimates the heterogeneous effects of cooperative membership on smallholder farmers' financial performance, measured by net returns, return on investment (ROI), and profit margin. We employ an innovative two-stage predictor substitution model combined with an unconditional quantile regression model to address the endogeneity of the cooperative membership variable and analyze data collected from 626 banana farmers in China. Results, in general, show that cooperative membership improves banana farm financial performance. Particularly, we show that cooperative membership affects net returns and ROI positively and significantly across the selected unconditional quantiles, with the highest impact occurring at the highest 80th quantile. Cooperative membership also has a positive and significant impact on the profit margin for all quantiles (except for the 20th quantile), but the larger impacts occurring at the lower quantiles.

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Corporate social responsibility oriented boards and triple bottom line performance: A meta‐analytic study

Zubeltzu‐Jaka,

Álvarez‐Etxeberria,

Aldaz‐Odriozola

2023

Bus Strat Dev

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In this article, we aim to investigate the effect of corporate social responsibility (CSR)‐oriented boards on triple bottom‐line (TBL) performance and whether internal corporate governance exhibits a facilitating role in achieving the sustainable development goals by enhancing the performance indicators of the TBL. Specifically, this article aims to shed light on this issue by meta‐analyzing the relationship between good governance and both social and financial performance, using a global sample to facilitate this analysis taking into account the incidence of the institutional characteristics of different countries and their impact on the relationship studied, by means of eight meta‐analyses. For this purpose, we conducted a meta‐analytic study on a sample of 289 articles published between 1997 and 2021. The results show that CSR‐oriented boards have a direct effect on corporate social performance (CSP) indicators and that their impact on financial outcomes is mediated by CSP strategies. Board size, gender diversity, and board independence present a facilitator profile of CSP, while only gender diversity enhances financial outcomes. The influence of CSR‐oriented boards is more acute in countries with greater protection for stakeholders and stronger environmental awareness.

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The effect of board gender diversity on corporate social performance: An instrumental variable quantile regression approach

Cited by 47 publications

References 39 publications

Board Gender Diversity and Corporate Social Performance in Different Industry Groups: Evidence from China

Board Gender Diversity and Corporate Social Performance in Different Industry Groups: Evidence from China

Effects of cooperative membership on financial performance of banana farmers in China: A heterogeneous analysis

Corporate social responsibility oriented boards and triple bottom line performance: A meta‐analytic study

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