 Independent Directors’ Social Connections and Analysts’ Attention Influence Corporate Social Responsibility DisclosureChaur-Shyan Wang and Tony Chieh-Tse Hou SAGE Open, 2024, vol. 14, issue 4, 21582440241295812 Abstract: This study investigates how the social connections of independent directors influence the disclosure of corporate social responsibility (CSR) information. Using data from Taiwanese firms listed on the stock market between 2013 and 2019, we employ the propensity score matching (PSM) method to compare the social networks of independent directors in firms that disclose their CSR reports with those that do not. Our findings reveal that disclosing CSR reports positively affects the centrality of independent directors’ social networks. In other words, directors who participate in CSR reporting have greater influence and better access to information within their social circles. This effect is particularly pronounced for firms with more analysts following them. Additionally, our study demonstrates that having more central and well-connected independent directors, along with increased analyst coverage, leads to greater CSR disclosure by firms. These results highlight the importance of diverse and robust social capital in enhancing transparency and promoting sustainable development for organizations. Keywords: corporate social responsibility; independent director; social network; analyst coverage (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sae:sagope:v:14:y:2024:i:4:p:21582440241295812 DOI: 10.1177/21582440241295812 Access Statistics for this article More articles in SAGE Open |
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