Corporate Social Irresponsibility of African Firms Across the Continent: Does Leaving the Path of Africapitalism Hurt Shareholder Value?

Women on boards and corporate social irresponsibility: evidence from a Granger style reverse causality minimisation procedure

“…Apart from Kölbel, Busch, and Jancso's (2017) work on the risk implications of corporate social irresponsibility, the literature on the dark side of corporate social responsibility is still in its infancy. Most early studies demonstrate effects on firm value or stock market performance (Harjoto, Hoepner, and Li 2020;Hoepner, Li, and Muzanenhamo 2018;Lenz, Wetzel, and Hammerschmidt 2017;Price and Sun 2017), while Strike, Gao, and Bansal (2006) find CSI incidents to result from complexity and Bouslah et al (2018) identify CEO risk-taking behaviour as a source of CSI incidents. Consequently, the relationship between board gender diversity and corporate social irresponsibility incidents is underexplored and allows for a relevant contribution to the literature, both theoretically and empirically.…”

“…Such CSI incidents are exogeneous shocks to corporate reputation usually exposed by third party media sources (Harjoto, Hoepner, and Li 2020;Kölbel, Busch, and Jancso 2017). While a literature on CSI does exist, it is still in its infancy with most studies appearing in the last 3-5 years and understandably focuses on the risk (Kölbel, Busch, and Jancso 2017) or return component of financial performance (Harjoto, Hoepner, and Li 2020;Hoepner, Li, and Muzanenhamo 2018;Lenz, Wetzel, and Hammerschmidt 2017;Price and Sun 2017).…”