Abstract
This paper presents an examination of the joint impact of board structural elements as firm-level and financial analysts as a market-level corporate governance (CG) on corporate social responsibility (CSR) performance. Our study contributes to the CG-CSR literature by adopting the bundling approach, a perspective that has recently attracted researchers’ attention as an answer to any heterogeneity and fragmentation in existing findings. It is based on an extensive sample consisting of 7,739 firm-year observations of US firms for the 2006-2015 period. The findings suggest that financial analyst complements the corporate board with more independence, gender diversity, and with a
specialized CSR committee to realize a certain level of CSR performance of a firm. The findings also indicate that analysts substitute for those internal governance factors that are associated with weaker boards—larger sizes and dual-role CEOs. We also draw implications for research and practice from our findings.
specialized CSR committee to realize a certain level of CSR performance of a firm. The findings also indicate that analysts substitute for those internal governance factors that are associated with weaker boards—larger sizes and dual-role CEOs. We also draw implications for research and practice from our findings.
Original language | English |
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Pages (from-to) | 363-389 |
Number of pages | 57 |
Journal | British Journal of Management |
Volume | 34 |
Issue number | 1 |
Early online date | 26 Dec 2021 |
DOIs | |
Publication status | Published - Jan 2023 |
Keywords
- Corporate Social Responsibility
- Corporate Governance Bundles
- Board Independence
- Gender Diversity
- CEO duality
- Analysts’ Coverage