Corporate Social Responsibility-Oriented Boards and Employee Welfare: Does Culture Matter?

Ngoc Bao Vuong ()
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Ngoc Bao Vuong: Graduate School of Humanities and Social Sciences, Hiroshima University, Higashihiroshima 739-8524, Japan

Sustainability, 2025, vol. 17, issue 5, 1-16

Abstract: This paper explores the relationship between a board’s corporate social responsibility (CSR) orientation and its company’s labor policies. Using data from 1950 non-financial firms in 21 emerging economies from 2010 to 2023, we found evidence that a more CSR-oriented board (as indicated by high percentages of women and independent directors and the existence of the audit committee’s financial expertise and CSR committee) can result in better employee treatment. In addition, our empirical results suggest that this board attribute–employee welfare relationship is influenced by the national culture. Specifically, the positive impact of the board’s CSR orientation on corporate labor practices is more prevalent in consensus-oriented and indulgent societies. These findings provide useful information that policymakers and regulators can exploit to reform corporate governance regulations to improve the working environment, especially for employees in developing countries.

Keywords: CSR-oriented board; employee welfare; national culture (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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