Establishing the boundary conditions for female board directors’ influence on firm performance through CSR

Liu, Yonghong; Lei, Lijun; Buttner, E. Holly

doi:10.1016/j.jbusres.2020.08.026

Cited by 79 publications

(84 citation statements)

References 70 publications

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“…We think that the same arguments could be useful in understanding the results obtained in this study in reference to R&D. Our results underline the positive impact of directors' independence on R&D, but raise some questions about the source of this independence, as it is not guaranteed by the mere fact of gender diversity. Greater gender diversity on corporate boards rests on a sense of fairness, and discriminatory practices in the recruitment of directors should attract scrutiny by regulators due to their unethical nature and as a matter of social sustainability [65]. However, the effectiveness of appointing women to the board can be only achieved if additional requirements are considered, which foster their independence, while not neglecting their diversity [22,40].…”

Section: Discussionmentioning

confidence: 99%

“…This study also has policy-making implications and involves some suggestions for practitioners, related to the relevance of including women on boards to achieve greater innovation efforts in companies. The role of female directors has been widely analysed lately, in an effort to demonstrate their effect, mostly on firm performance [20,65], but also on corporate strategies, such as innovation [57], and to determine the critical mass needed to exert a real influence [12]. However, few studies have been devoted to identifying and demonstrating the characteristics and features that the female presence on the board should have to clarify and increase their influence.…”

Section: Discussionmentioning

confidence: 99%

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Social Sustainability on Corporate Boards: The Effects of Female Family Members on R&D

2021

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There is growing institutional and social pressure for greater balance, parity, and equality at the highest levels of corporations. This is coupled with an increasing interest in analysing the effects of gender diversity on corporate boards. However, companies may only reap the benefits of gender diversity by achieving better qualified and more independent boards. This study aims to contribute to the open debate on the effects of board gender diversity on R&D, by taking into account the independence of female directors. Panel regression analyses were performed with data for 67 Spanish-listed companies during the 2003–2019 period. Our results confirm the positive effects of gender diversity on R&D. However, this positive influence is lower if female directors have family links with male members on the board. These findings have policy implications, regarding the need to increase gender equality in corporate boards for social and sustainability purposes, while the benefits are conditioned by the independence of female directors. The value of this research rests on the study of the effects, beyond the mere analysis of financial performance of the gender diversity of boards.

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Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

Social Sustainability on Corporate Boards: The Effects of Female Family Members on R&D

2021

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“…In other words, it should emphasize understanding how board gender diversity interacts with other mechanisms to improve corporate governance. Liu et al (2020) listed three reasons why gender diversity can enhance performance. First, female board diversity can help reduce the "group thinking" phenomenon, which arises in homogeneous communities (such as an all-male board) and is counterproductive to the objective evaluation of alternative viewpoints.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Women are also assumed to have standard features and attitudes, such as being relationshiporiented, kind, compassionate, caring, and sympathetic to the needs of others. Besides, female directors appreciate CSR-related activities more and favor CSR-related strategic decisions than their male counterparts, guided by female directors' internal values and desires (Liu et al, 2020). Boards with more excellent representation of women also lower the risk of impression management strategies on sustainability disclosures.…”

Section: Non-financial Performancementioning

confidence: 99%

“…Rao and Tilt (2020) classify these differences into psychological value and a unique set of resources. Previous research has also linked gender diversity to non-financial performance, including using Corporate Social Responsibility (CSR) (Liu et al, 2020), (Issa & Fang, 2019, (Colakoglu et al, 2020), social performance (Alazzani et al, 2017); (Biswas et al, 2018), and measurement of non-financial performance, as follows:…”

Section: Non-financial Performancementioning

confidence: 99%

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Gender Diversity on the Board of Director and Firm Performance: Agency Theory Perspective

Hindasah

Harsono

2021

MABIS

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Research aims: This paper provides a literature review on the influence of board of directors' gender diversity on financial and non-financial performance.Design/Methodology/Approach: This research used the content analysis identified from previous studies based on the proxies employed. The article selection process was carried out from reputable international journals published in 2017-2020, resulting in 50 articles discussing board gender diversity and performance.Research findings: This study's results are a conceptual model and future research developments. Research related to female directors and performance has been much carried out. Hence, future research suggests correlating female directors based on monitoring characteristics, human capital board, and demographics. The influence of gender diversity on non-financial performance is also rarely studied.Theoretical contribution/Originality: Identification of gender diversity attributes associated with financial and non-financial performancePractitioner/Policy implication: This study provides valuable information for policymakers or regulators to refine future corporate governance policies and increase understanding of the relationship between corporate governance practices and company performance as measured by financial and non-financial performance.Research limitation/Implication: This study is based on only 50 articles in the last four years.

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Environmental attitude in the board. Who are the “green directors”? Evidences from Italy

et al. 2021

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Board members' attitudes towards environmental protection are an important antecedent of how companies define and implement sustainability initiatives, but little is known about directors' attitudes and the factors associated with these. Using survey data on Italian board members, the research sought to explore the relationships between these individual's personal attributes, especially those related to their roles on boards, and their attitudes towards environmental protection. The findings suggest that female directors, directors with financial background, and independent directors are positively related to attitudes towards environmental protection. In the financial sector, younger board members and risk committee members show stronger environmental attitudes. The results could be of interest to policymakers because the board member attributes identified may require a stronger regulatory focus in order to achieve public policy's environmental protection objectives and to governance bodies in terms of defining board committees' composition and selecting “green directors” oriented towards environmental issues.

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Establishing the boundary conditions for female board directors’ influence on firm performance through CSR

Cited by 79 publications

References 70 publications

Social Sustainability on Corporate Boards: The Effects of Female Family Members on R&D

Social Sustainability on Corporate Boards: The Effects of Female Family Members on R&D

Gender Diversity on the Board of Director and Firm Performance: Agency Theory Perspective

Environmental attitude in the board. Who are the “green directors”? Evidences from Italy

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