Exploring the Relationship Between Board Characteristics and CSR: Empirical Evidence from Korea

Chang, Young Kyun; Oh, Won‐Yong; Park, Jee Hyun; Jang, Myoung Gyun

doi:10.1007/s10551-015-2651-z

Cited by 253 publications

(282 citation statements)

References 68 publications

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“…It has been found that people with an advanced degree tend to be more concerned about CSR issues than those who are less educated [49]. This can be explained by the fact that board members with more education are likely to have broader views [23] and a more comprehensive understanding of the social responsibility of firms [50]. Moreover, some directors who have a research background in the field of CSR and sustainability or other related areas may have a strong motivation to encourage the firm to achieve superior CSR performance as the benefits are more observable to them [51].…”

Section: Academic Affiliation Of the Board Membersmentioning

confidence: 99%

Board Composition and Corporate Social Responsibility Performance: Evidence from Chinese Public Firms

2018

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This study investigates the relationship between board composition and corporate social responsibility (CSR) performance. Specifically, we examine the impact of board composition (aspects like political experience, academic experience, overseas background, and gender diversity) on CSR performance. We test our hypotheses using data collected from 839 Chinese public firms during the period from 2008 to 2016. Applying generalized least squares regression, the study shows that the political experience, academic experience, and overseas background of the board members are positively related to the firm's CSR performance. Moreover, we discuss the distinctive relationship between gender diversity and CSR performance in the context of Chinese culture. We extend the CSR literature by examining unique aspects of board composition in the Chinese context and offer fruitful implications for both scholars and practitioners.

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Section: Academic Affiliation Of the Board Membersmentioning

confidence: 99%

Board Composition and Corporate Social Responsibility Performance: Evidence from Chinese Public Firms

2018

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“…Instead of focusing on personal attributes of decision-makers, other researchers in the management field have turned their attention to the group-level characteristics of decision-making bodies within an organization to shed further light on antecedents of CSR [37][38][39][40][41]. In particular, they have examined how certain features of the board of directors (BOD) affect a company's involvement in CSR activities, finding that differences in CSR efforts and performance are partly explained by differences in the structure and composition of the BOD.…”

Section: Board Of Directors and Csrmentioning

confidence: 99%

“…For example, it was shown that the size of the board matters. In particular, the number of independent directors was considered an important element in this [37,39]. This is perhaps because not only do independent directors have fiduciary duties to shareholders, as a guardian of shareholder interests preventing the use of firm resources for purposes other than increasing shareholder wealth, but also, they are expected to perform other kinds of monitoring roles, namely ensuring the firm's compliance with regulatory standards, which are often related to CSR issues.…”

Section: Board Of Directors and Csrmentioning

confidence: 99%

Women on Boards and Corporate Social Responsibility

et al. 2016

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A growing body of research suggests that having more women in the boardroom leads to better corporate social responsibility (CSR) performance. However, much of this work views the CSR-enhancing effect of women directors as largely driven by their moral orientations and rarely considers other underlying mechanisms. Moreover, less explored are the firm-specific conditions under which such CSR-promoting roles of female directors might be performed more (or less) effectively. In this paper, we seek to bridge this gap in the literature by (1) proposing an additional account for the positive influence of female independent directors on the firm's CSR and (2) illuminating the organizational context in which female directorship is likely to translate into good CSR performance. We argue that women independent directors might take CSR issues more seriously than their male counterparts not only because of their stronger moral orientations, but also because they have reputational reasons to do so. Further, we suggest that female directors' concerns about CSR-relevant matters are more (less) likely to gain support from other members of the organization when their company is doing more (less) business in the product markets where reputation for CSR is more (less) vital for success. Using a sample of Standard & Poor's (S&P) 1500 index firms (2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007)(2008)(2009) and the data on their board composition and CSR ratings, we find strong support for our argument. We find that the number (or proportion) of women independent directors is positively associated with a firm's CSR ratings and that the strength of this relationship depends on the level of the firm's consumer market orientation.

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“…However, a majority of prior CSR studies is based on the U.S. firms, and the corporate governance structure of the U.S. firms is different from that of Korea. For example, Chang et al (2017) report that managers in Korean firms are often closely related to the founders and majority shareholders. Thus, it is not suitable to apply agency theory in Korean CSR studies.…”

Section: B Corporate Social Responsibilitymentioning

confidence: 99%

“…In addition, the board of directors do not have positive influence on increasing CSR activities. Prior studies report that board independence has a non-linear relation with CSR activities (Kim et al 2013;Chang et al 2017). In addition, Choi et al (2013) show that Chaebols use CSR activities to mask earnings management activities.…”

Section: B Corporate Social Responsibilitymentioning

confidence: 99%

The Control–Ownership Wedge and Corporate Social Responsibility

Ryu¹,

Chae²,

Cho³

2017

Glob Bus Financ Rev

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We examine the effect of the control-ownership wedge (the difference between voting rights and cash flow rights) in Korean business groups (Chaebols) on corporate social responsibility activities. The results of our analyses show that on corporate social responsibility activities decrease as the control-ownership wedge increases. This result remains consistent when on corporate social responsibility scores are used. This study provides evidence that a greater control-ownership wedge decreases engagement in corporate social responsibility activities in the context of Korean business groups (Chaebols), with their unique ownership structure.

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Exploring the Relationship Between Board Characteristics and CSR: Empirical Evidence from Korea

Cited by 253 publications

References 68 publications

Board Composition and Corporate Social Responsibility Performance: Evidence from Chinese Public Firms

Board Composition and Corporate Social Responsibility Performance: Evidence from Chinese Public Firms

Women on Boards and Corporate Social Responsibility

The Control–Ownership Wedge and Corporate Social Responsibility

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