Women on Boards of Directors and Corporate Social Performance: A Meta‐Analysis

Abstract

Research Question Whether and how women directors influence firms' engagement in socially responsible business practices and social reputation among diverse stakeholders is unclear due to conflicting empirical evidence, the lack of a coherent theory linking these variables, and inattention to the national contexts in which these relationships occurs. Research Findings Results from our meta‐analysis of 87 independent samples suggest that, while generally positive, the female board representation–social performance relationship is even more positive in national contexts when boards may be more motivated to draw on the resources that women directors bring to a board (i.e., among firms operating in countries with stronger shareholder protections) and in contexts where intra‐board power distribution may be more balanced (i.e., in countries with higher gender parity). Theoretical Implications Future studies should more attentively examine how firms' institutional contexts enhance or mitigate the relationship between women's representation on boards and corporate social performance. Our findings also highlight the need for a comprehensive understanding of the social performance‐related knowledge, perspectives, and values that men and women bring to boards. Practitioner/Policy Implications Our results suggest that, to enhance any benefits of diversity for corporate social performance, efforts be directed at holding boards more accountable toward diverse stakeholders and improving the status of women in society and in the workforce.

Do Board Gender Diversity and Director Typology Impact CSR Reporting?

“…In the future, it could also be interesting to expand our analysis to an international sample to corroborate the results presented here and because the social, political and economic structures of individual countries (Terjesen and Singh, ) seem to influence the representation of women on boards. Similarly, shareholder protection and the country gender parity (Post and Byron, ; Byron and Post, ) affect the relationship between female board representation and financial or social performance. Thus, analysing whether firms governed by women tend to disclose one particular type of CSR information rather than another based on country characteristics may be of interest.…”

Female Directors and Corporate Social Responsibility: Evidence from the Environmental Investment of Chinese Listed Companies

“…In the group, personal thoughts and behaviors are influenced by others. Byron and Post [48] argue that the presence of both women and men on the board can bring different knowledge, experience and value, which is helpful to improve the quality of business decisions. Female directors take a more active part than male directors because of their cautious and responsible attitude [49].…”

Board gender diversity and environmental performance: An industries perspective

“…Byron and Post's () meta‐analysis is insightful, showing generally positive results between the relationship of female board representation and social performance; however, it does not narrow the analysis to environmental performance. Sustainability is multidimensional, and each aspect needs individual research attention, which has often been lacking in past research.…”