Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2020.1863829
The moderating role of CSR in board gender diversity and firm financial performance: empirical evidence from an emerging economy
Lisha Jiang
Jacob Cherian
Muhammad Safdar Sial
Peng Wan
José António Filipe
Mário Nuno Mata
Xiangyu Chen
Sažetak
The current study aims to investigate the moderating role of corporate social responsibility (CSR) in board gender diversity and
firm financial performance. We used the panel data regression
(fixed effect) in our analysis to check the moderating role of CSR
in the board gender diversity and the firm financial performance.
We collected the data of Chinese listed companies from the
Shenzhen and Shanghai stock exchanges from the China stock
market and accounting research (CSMAR) database. We used a
two-stage least square (TSLS) regression model to control the
possible problem of endogeneity. Our results show that higher
representation of female directors in the board is positively
related to firm financial performance and that CSR has a significantly positive effect when moderating the relation between
board gender diversity and firm financial performance. Besides,
three control variables (board size, board member average age,
and Big4) have a positive impact on the firm performance, having
the leverage variable a negative impact on the firm performance.
Our findings hold for a set of robustness tests. This study has
important implications, namely by enriching the existing literature
on CSR and by highlighting the importance of board gender
diversity, and emphasizing the importance of the reporting of
more CSR activities and its impact on the decision-making process.
Ključne riječi
Board gender diversity; firm financial performance; CSR; corporate governance
Hrčak ID:
301361
URI
Datum izdavanja:
31.12.2021.
Posjeta: 537 *