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A female style in corporate social responsibility? Evidence from charitable donations

Jidong Zhang (), Jing Han () and Meiqun Yin ()
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Jidong Zhang: Winona State University
Jing Han: Winona State University
Meiqun Yin: Beijing International Studies University

International Journal of Disclosure and Governance, 2018, vol. 15, issue 3, 185-196

Abstract: Abstract This study examines whether and how women directors influence firms’ corporate social responsibility (CSR) activities. From two Chinese Stock Exchanges, we collected a sample of firms that had made charitable donations during the earthquakes in China in either 2008 or 2010. Our analysis showed that the percentage of women directors on the board had significant impact on firms’ donations during natural disasters, and such influence was stronger when firm performance was poor rather than good. Moreover, the presence of women directors tended to lead to a reduction in the size of donations among high-performing firms. Donations from firms with a higher percentage of women directors were more likely to be in the form of properties rather than cash. Our results indicated that gender diversity in the boardroom influences firms’ CSR activities. We suggest that public firms with more women directors on the board tend to be more conservative when engaging in CSR activities. Contributions to the literature and practical implications are also discussed.

Keywords: Gender diversity; Women directors; Conservatism; corporate social responsibility (search for similar items in EconPapers)
Date: 2018
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