Board independence and GRI-IFC performance standards: The mediating effect of the CSR committee

García‐Sánchez, Isabel‐María; Miranda, María Elena Gómez; Crowther, David; Ariza, Lázaro Rodríguez

doi:10.1016/j.jclepro.2019.03.337

Cited by 113 publications

(123 citation statements)

References 57 publications

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“…The authors in [3] also found a non-significant relationship between CSR committees and social scores. This led us to think about the importance of studies that consider CSR committees as mediators [58] in the relationships between corporate governance and corporate performance. The corporate governance system (one-tier, two-tier) and the way in which the company is managed and controlled could influence the willingness to address sustainability issues.…”

Section: Discussionmentioning

confidence: 99%

CSR Committees and Their Effect on ESG Performance in UK, France, Germany, and Spain

2019

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The multidisciplinary nature of a corporate social responsibility (CSR) committee reflects the commitment as well as the expectations and demands of diverse stakeholders. So far, CSR committees have been mainly considered as variables of control in larger corporate governance models and independent variables that determine CSR or environmental, social, and governance (ESG) disclosure and its reporting quality. However, the effect on corporate performance has been biased to financial performance, so the potential of the analysis of the effect it may have on different facets of non-financial performance has not been exploited. Which it should, since it can be a fundamental tool to achieve sustainability. The objective of this contribution is to test whether companies with a CSR committee not only leads to higher economic scores, but also to higher ESG (environmental, social, governance) scores. To do this, we used regression panel data models in 197 listed firms in Spain, France, Germany, and the UK during the period 2005–2015 including the perspective of European organizations and completing the extant studies in US-based samples. Our results showed that 90% of companies in the sample had a CSR committee in 2014, and that those companies had significantly different ESG scores than those without a CSR committee. Having a CSR committee also triggered better non-financial performance when considering the four scores and the four countries independently (except for the economic scores in Spain). These results have great implications for practitioners, reflecting the importance of promoting these tools in an organization to enhance non-financial performance and sustainability.

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Section: Discussionmentioning

confidence: 99%

CSR Committees and Their Effect on ESG Performance in UK, France, Germany, and Spain

2019

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“…The literature review highlights few studies about the adoption of institutional theory to explain the corporate structure with particular regard to CSR committees. For Vigneau et al [69] the adoption of Global Reporting Initiative (GRI) standards is the factor influencing the management structure and the relate presence of CSR committees; Gennari and Salvioni [9] and García-Sánchez et al [27] positively relate the CSR committees with the mandatory provisions about CSR information.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…Many researches are about the relationship between corporate governance and CSR, considering that the board structure influences the triple bottom line performance [1,[15][16][17][18][19], but mostly ignoring the role of CSR committees within the boards. Most of the previous researches studied the CSR committees as determinants of corporate performance [13,[20][21][22][23][24][25] and corporate disclosure [26] instead of as effects of internal or external variables [9,27].…”

Section: Introductionmentioning

confidence: 99%

How to Lead the Board of Directors to a Sustainable Development of Business with the CSR Committees

Gennari

2019

Sustainability

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The sustainable development of business requires adjustments in corporate governance to assure the economic, social and environmental aspects of a firm’s responsibility are managed according to the triple bottom line approach. For this purpose, the board of directors can establish devoted corporate social responsibility (CSR) committees to reduce a company’s exposure to responsibility failures. By means of a quantitative analysis on listed firms on FTSE MIB and STAR markets of the Italian Stock Exchange and embracing different theories this paper aims at finding the potential influence of external (soft law and socio-environmental industry risk) and internal (firm size and ownership structure) factors on the presence of CSR committees. This study contributes to the existing literature about sustainability in business, recommends to directors to not underestimate the risk of ‘strategic unsustainability’, and offers to regulators significant food for thought to improve the contribution to sustainable development by companies.

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“…Following the previous literature, the most effective boards adopt decisions consistent with the objectives of the company and the stakeholders (Peters & Romi, 2015). In general, the effectiveness of this monitoring body is associated with its specialization, independence and diversity and, taking into account the complexity of the CSR, the inclusion of a greater number of directors and more activity than the usual ones that allow the strategies to be addressed more precisely in terms of sustainability (García‐Sánchez, Gómez‐Miranda, David, & Rodríguez‐Ariza, 2019a, 2019b).…”

Section: Introductionmentioning

confidence: 99%

Drivers of the CSR report assurance quality: Credibility and consistency for stakeholder engagement

García‐Sánchez

2020

Corp Soc Responsibility Env

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The objective of this paper is to determine the effect that certain internal and external factors have on the CSR report assurance quality. Among the different internal factors, firm's incentives and the effectiveness of the CEO and the board of directors will be considered. The external factors analyzed are relating to the institutional pressures at the country and sector levels, and the intrinsic characteristics of the assurer. Using a sample of the 678 largest companies in the world in the 2011-2017 period, the application of the two-stage model confirms the supremacy of firms' incentives and the characteristics of the service provider as aspects with greater predictive capacity in the assurance quality. Results that would give the CEO, the board and institutional pressures a secondary role in corporate transparency because their effect only occurs in the absence of the two previous drivers.

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Board independence and GRI-IFC performance standards: The mediating effect of the CSR committee

Cited by 113 publications

References 57 publications

CSR Committees and Their Effect on ESG Performance in UK, France, Germany, and Spain

CSR Committees and Their Effect on ESG Performance in UK, France, Germany, and Spain

How to Lead the Board of Directors to a Sustainable Development of Business with the CSR Committees

Drivers of the CSR report assurance quality: Credibility and consistency for stakeholder engagement

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