The role of independent directors at family firms in relation to corporate social responsibility disclosures

Beatriz Cuadrado-Ballesteros, Lázaro Rodríguez-Ariza and Isabel-María García-Sánchez

International Business Review, 2015, vol. 24, issue 5, 890-901

Abstract: In the last few decades, interest in family firms has increased. There are several analyses in relation to leadership, ownership and succession-related topics, but they omit issues related to stakeholders and corporate social responsibility (CSR). This study broadens empirical evidence in this respect. Using a sample composed of internationally listed companies for the period 2003–2009, we analyse CSR information disclosures in family businesses, as well as the fundamental role of the independence of the board in this regard. Our results show that, in general, the higher the proportion of independent directors, the higher the level of CSR information disclosures; but, in the concrete case of family firms, the “independence” of these directors disappeared, thereby reducing the positive association with information disclosure; this was because independent directors may be strongly influenced by family owners, and even by personal or familiar ties.

Keywords: Board of directors; Corporate social responsibility (CSR); Family firms; Independent directors (search for similar items in EconPapers)
JEL-codes: G3 G34 L26 M14 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (33)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:iburev:v:24:y:2015:i:5:p:890-901

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DOI: 10.1016/j.ibusrev.2015.04.002

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