Gender Diversity on the Board and Firms’ Corporate Social Responsibility

Gaio, Cristina; Gonçalves, Tiago

doi:10.3390/ijfs10010015

Cited by 33 publications

(16 citation statements)

References 72 publications

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“…Women on boards are twice as likely to have a doctorate than men (Hillman and Dalziel, 2003). Women on boards are also more likely to have additional technical knowledge unrelated to management, allowing them to bring agenda items such as social responsibility to meetings (Gaio and Gonçalves, 2022; Gurol and Lagasio, 2023).…”

Section: Resultsmentioning

confidence: 99%

What drives environmental, social and governance (ESG) performance? The role of institutional quality

Pinheiro,

dos Santos,

Cherobim

et al. 2023

MEQ

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PurposeThis study aimed to investigate the role of the country's institutional quality on the environmental, social and governance (ESG) performance of its companies.Design/methodology/approachOver a four-year period (2016–2019), the study examined the ESG performance of 412 organizations situated in 19 countries. ESG performance was the dependent variable, and the independent variables were rule of law, economic freedom, education index and international trade freedom. These factors described the institutional quality of countries in the authors’ study.FindingsThe findings reveal that institutional quality has a major impact on ESG performance. Companies engage in more ESG practices when they operate in countries with greater economic freedom and international trade freedom. The authors corroborated the core assumption of institutional theory (IT), which argues that organizational behavior is determined by the country's institutional setting.Research limitations/implicationsThe findings, like all research, should be interpreted with caution. The authors’ research focused solely on large energy corporations. As a result, the conclusions cannot be applied to small companies or other industries. ESG performance can also be measured using different datasets.Practical implicationsIf managers want their companies to perform better in terms of ESG, the authors recommend that they form a CSR committee and sign the Global Compact. This study may be valuable to international policymakers because they can underline that greater economic freedom, better education and greater international trade freedom all promote higher ESG performance.Originality/valueTo the best of the authors' knowledge, nearly all of research explores the relationship between ESG and financial performance. As a result, this study built on past research by investigating how national aspects affect corporate ESG performance.

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Section: Resultsmentioning

confidence: 99%

What drives environmental, social and governance (ESG) performance? The role of institutional quality

Pinheiro,

dos Santos,

Cherobim

et al. 2023

MEQ

View full text Add to dashboard Cite

show abstract

“…Dr. Delphine Kerob, International Scientific Director at La Roche-Posay and Consultant Dermatologist at St. Louis Hospital, shared studies demonstrating a positive correlation between the presence of women on company boards and corporate social responsibility scores. 7 …”

Section: International Leadership Among Women In Dermatologymentioning

confidence: 99%

Meeting report: Women’s Dermatology Society Forum at the 25th World Congress of Dermatology, Singapore, 2023

Labbouz,

Khan,

Gohara

et al. 2024

International Journal of Women’s Dermatology

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“…Assuming gender diversity has a potentially crucial role to play in reducing agency problems (Adams and Ferreira, 2009), influencing the decision-making process on the board (Al Fadli et al , 2019) and reinforcing links between the company and its external environment (Guizani and Ajmi, 2022), questions about the effect of gender diversity on CSR have attracted significant scholarly attention (Boukattaya and Omri, 2021; Buertey, 2021; Singh et al , 2021; Wu et al , 2022; Gaio and Gonçalves, 2022). The majority of the findings indicate that female representation on the board enhances the company's CSR engagement.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Gender diversity, financial performance, and the moderating effect of CSR: empirical evidence from UK financial institutions

Fatma

Chouaibi

2023

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Purpose This study aims to examine the direct relationship between board gender diversity (BGD) and financial performance and the moderating role of corporate social responsibility (CSR) in the said relationship. Design/methodology/approach Using data collected from the Thomson Reuters Eikon ASSET4 database from 42 UK financial institutions listed in the ESG index for the period 2005–2019, this study used multivariate regression analysis on panel data to test the effect of BGD on financial performance and estimate the moderating effect of CSR between them. Moreover, to control the endogeneity problem, the authors conducted an additional analysis by testing the dynamic dimension of the data set through the generalized moment method. Findings The empirical results show that BGD is positively related to financial performance and that BGD increases firm performance with the moderating effect of CSR. Regarding the endogeneity problem, the existence of continuity between financial institution performances over time is demonstrated. Research limitations/implications The current paper sheds light on the importance of BGD in improving firm performance and the moderating role of CSR in strengthening the relationship between BGD and firm performance, thereby contributing to the agency theory, the resource dependency theory and the stakeholder theory. Therefore, regulators and policymakers in the UK can use the outcomes of this study to enforce the representation of female directors on boards to enhance the financial performance of financial institutions. Moreover, the findings could be useful for regulatory bodies to encourage financial institutions to practice CSR activities and disclose them in their annual reports. Originality/value To the best of the authors’ knowledge, this is the first study investigating the moderating role of CSR on the relationship between BGD and financial performance in the context of the financial sector. It is also the first study documenting that CSR reinforces the relationship between gender-diverse boards and financial institutions' performance. This study fills a research gap as it expands the existing literature that has generally focused on the impact of BGD on financial performance and has not reached similar results.

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Gender Diversity on the Board and Firms’ Corporate Social Responsibility

Cited by 33 publications

References 72 publications

What drives environmental, social and governance (ESG) performance? The role of institutional quality

What drives environmental, social and governance (ESG) performance? The role of institutional quality

Meeting report: Women’s Dermatology Society Forum at the 25th World Congress of Dermatology, Singapore, 2023

Gender diversity, financial performance, and the moderating effect of CSR: empirical evidence from UK financial institutions

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