The role of CSR committee characteristics on R&D investments

Gianluca Ginesti, Domenico Campa, Spano’, Rosanna, Alessandra Allini and Marco Maffei

International Business Review, 2023, vol. 32, issue 5

Abstract: We investigate the impact of corporate social responsibility (CSR) committees on research and development (R&D) investments. Using a unique sample of European listed companies, we offer three key results to the current academic and policy debate. First, we document that firms with a CSR committee exhibit lower levels of R&D investments. Second, we find that the CSR committee membership of either the CEO or chairman is associated with an increase in R&D investments. Finally, we provide evidence that firms whose CSR committees are chaired by a female director exhibit higher R&D investments. These results are of importance for academics, investors, and policy makers, since they shed light on the effect of CSR board committees on corporate outcomes, beyond their impact on social performance and/or sustainability disclosure.

Keywords: Corporate governance; Corporate social responsibility; CSR committee; European listed companies; R&D investments (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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DOI: 10.1016/j.ibusrev.2023.102147

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