The impact of board cultural diversity on a firm's commitment toward the sustainability issues of emerging countries: The mediating effect of a CSR committee

Martínez‐Ferrero, Jennifer; Lozano, María Belén; Vivas, Miguel

doi:10.1002/csr.2080

Cited by 84 publications

(101 citation statements)

References 50 publications

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“…Due to the concerns of society and the demands in terms of accountability towards organizations, there has been a greater concern for CSR and sustainability [22]; companies have stopped focusing exclusively on economic benefit, and have begun to integrate them into their culture to commit to society [23].…”

Section: Discussionmentioning

confidence: 99%

Mapping the Knowledge of CSR and Sustainability

et al. 2021

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This paper focuses on two concepts frequently used and studied by researchers: corporate social responsibility (CSR) and sustainability. In recent decades, many authors have questioned the relevance and connection between the two topics. A bibliometric analysis will be carried out with SciMAT over the period 2003–2021, to understand the evolution and relationship of the aforementioned terms, but also to show the relevance of the link between the different clusters, and to observe the breakdown of the driving themes over the period 2003–2021. The final purpose is to draw conclusions and indicate possible trends that will drive the path of CSR and sustainability, thus increasing scientific knowledge. The results show that the number of articles related to CSR and sustainability is steadily increasing and that the main driving themes have been CSR, sustainability and environment. Furthermore, a link between CSR, sustainability and business has been found in the analysis of the different thematic networks. The future direction of the research could be marked by a further development of the new driving themes, among which stakeholder focus and branding image stand out.

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Section: Discussionmentioning

confidence: 99%

Mapping the Knowledge of CSR and Sustainability

et al. 2021

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“…Finally, the positive effect of running business activities in line with ESG standards seems to cause natural positive feedback in a shape of a certain perpetuum mobile. A company with a more culturally diverse board tends to promote pro-ESG activities, which leads to better performance in social and environmental terms (Martínez, Ferrero et al, 2021).…”

Section: Analysis and Discussionmentioning

confidence: 99%

The role of ESG in default early warnings

Grygiel-Tomaszewska

Turek

2021

KNoP

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The purpose of this article is to verify whether there is a research gap referring to the potential application of ESG-related information in bankruptcy early warning signals. There is a problem of a strong information asymmetry in the enterprise-investor relationship, with the issuer being the privileged party. The problem is so urgent that, undoubtedly, the global effect of the crisis caused by the COVID-19 pandemic will be a sharp increase in the number of economic entities threatened with insolvency and bankruptcy. The question then arises – can environmental, social and governmental (ESG) criteria be used as elements of the bankruptcy early warning system? The study covers the time period beginning January 2016 through June 2021 and includes scientific indexed in the Web of Science Core Collection database provided by Clarivate Analytics. The following research hypothesis guides this study: There is a research gap referring to the role of ESG-related information in bankruptcy early-warning systems. To verify the hypothesis (H0) the model was built, based on the concept of citations count regression (Staszkiewicz, 2019). The study confirmed the existence of a research gap indicated in the research hypothesis. Possible legal obligation referring to the disclosure of certain ESG-related, standardized information sets would be helpful to diminish the market information asymmetry. Research shows, that strong regulatory activities support the ESG-compliant performance of a business venture (Ortas et al., 2019). Also, standardization of ESG rating criteria and evaluation process would be helpful in this matter and would endure comparability of sourcing data and outcome.

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“…The CSR committee has an impact on the different types of qualitative and quantitative characteristics of the firm. For this reason, the existence of a CSR committee improves the firm's overall responsible behavior [31]. Cumulatively, this subsection highlights the importance of the CSR committee and how its existence earns sustainable performance for shareholders and other stakeholders.…”

Section: Presence Of Csr Committeementioning

confidence: 93%

“…Further, the presence of a CSR committee serves as the connection between the stakeholder theory and agency theory, as "CSR engagement is a principal-agent relation between managers and shareholders". In contrast, the absence of a CSR committee leads towards less informed stakeholders [31]. Therefore, in response, the management does not drive sustainable decisions and does not give effective advice to the stakeholders [25].…”

Section: Presence Of Csr Committeementioning

confidence: 99%

“…To extend our analysis, we use a unique attribute (CEO duality) of corporate governance that plays a key role in forming a CSR committee, since the CEO power and performance can be classified as an opportunity for decision making and strengthening the relationship with shareholders. Moreover, CEO duality can be classified as a specific CEO power variable in terms of CSR characteristics [58], while the CEO has more possibilities and power to implement a sustainable strategy for improving environmental and social performance [31,46]. It may be used opportunistically according to the stakeholder agency theory.…”

Section: Additional Analysismentioning

confidence: 99%

See 1 more Smart Citation

Does CSR Governance Improve Social Sustainability and Reduce the Carbon Footprint: International Evidence from the Energy Sector

et al. 2021

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In today’s world, the energy sector is considered the backbone of any economy and plays a key role in carbon trading markets and mitigation actions. This study explores the impact of CSR governance on carbon footprints and the social performances of the energy sector. Using an international sample of 45 countries from 2002 to 2017, we find that the existence of a CSR committee improves the firm’s social responsibility and effectively mitigates the carbon footprint. Further, our results present that a large CSR committee with more experienced board members are effective to implement sustainable business practices. Furthermore, a CSR committee with experienced board members does not mitigate the environmental and social concerns, when energy firms have more powerful CEOs. Collectively, our evidence indicates that the existence of CSR governance is favorable to focus on social issues than environmental ones.

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The impact of board cultural diversity on a firm's commitment toward the sustainability issues of emerging countries: The mediating effect of a CSR committee

Cited by 84 publications

References 50 publications

Mapping the Knowledge of CSR and Sustainability

Mapping the Knowledge of CSR and Sustainability

The role of ESG in default early warnings

Does CSR Governance Improve Social Sustainability and Reduce the Carbon Footprint: International Evidence from the Energy Sector

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