Corporate social responsibility, board of directors, and firm performance: an analysis of their relationships

Roberto Fernández-Gago (), Laura Cabeza-García () and Mariano Nieto ()

Review of Managerial Science, 2016, vol. 10, issue 1, 85-104

Abstract: This paper aims to contribute to the empirical evidence relating corporate social responsibility (CSR), board composition, and firm performance. Using a sample of Spanish listed firms included in the IBEX 35 over the period 2005–2010 the results show that the percentage of independent directors affect firm CSR activities, and that this effect is moderated by the resources available to the firm (measured by return on assets). Also, the CSR has a mediating role on the relation between the independence of the board of directors and firm value. These results hold for other board characteristics (board size and women as directors). Copyright Springer-Verlag Berlin Heidelberg 2016

Keywords: CSR; Board composition; Board independence; Firm value; Resources available; M14; G30 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (29)

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DOI: 10.1007/s11846-014-0141-9

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