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Board Attributes and Corporate Social Responsibility Disclosure: A Meta-Analysis

Jaime Guerrero-Villegas (), Leticia Pérez-Calero (), José Manuel Hurtado-González () and Pilar Giráldez-Puig ()
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Jaime Guerrero-Villegas: Department of Management and Marketing, Universidad Pablo de Olavide, 41013 Seville, Spain
Leticia Pérez-Calero: Department of Management and Marketing, Universidad Pablo de Olavide, 41013 Seville, Spain
José Manuel Hurtado-González: Department of Management and Marketing, Universidad Pablo de Olavide, 41013 Seville, Spain
Pilar Giráldez-Puig: Department of Financial Economics and Accounting, Universidad Pablo de Olavide, 41013 Seville, Spain

Sustainability, 2018, vol. 10, issue 12, 1-22

Abstract: Many studies have examined the relationships between board attributes (board independence, CEO duality, board size, and women on boards) and corporate social responsibility disclosure (CSRD) as a means to improve a firm’s reputation. This research was performed in various international settings and uneven outcomes were obtained. We therefore meta-analyzed 88 studies to summarize scattered evidence and found that CEO duality had a significantly negative relationship with CSRD, while board independence, board size and women representation had a significantly positive relationship with CSRD. These relationships were more significant in countries with low levels of commitment to sustainable goals. Thus, our study revealed differences in the relationship between board attributes and CSRD, and that these differences were conditioned by the institutional contexts in which firms operate. Our research has practical implications for practitioners and policy makers alike as we offer guidelines on the most suitable corporate governance mechanisms to achieve lower capital costs and better access to finance.

Keywords: corporate governance; board of directors; sustainability; institutional context; meta-analysis; sustainable goals (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
Date: 2018
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