Board diversity and corporate social responsibility disclosure of multinational corporations

Xuhui Peng, Zhihan Yang, Jingjing Shao and Xue Li

Applied Economics, 2021, vol. 53, issue 42, 4884-4898

Abstract: This study discovers the relationship between board diversity and corporate social responsibility (CSR) disclosure of multinational corporations (MNCs). The existing studies have shown the positive roles of board gender diversity (BGD), education background diversity (EBD), and tenure diversity (TD) in decision-making. Thus, we believe that the positive effect also exists in the strategic CSR decision-making process of the board of directors; it enhances corporate environmental disclosure (ED) and social disclosure (SD). After investigating 140 MNCs from China, Japan, the UK, and the US, the result shows that (1) BGD positively affects ED and SD of MNCs and (2) TD positively affects SD of MNCs. This study further explains the relationship between board diversity and CSR disclosure from the perspective of stakeholder and resource-based view, emphasizing the role of board diversity in stakeholder management and the effectiveness of CSR decision-making. The study helps provide policy makers with inspirations to improve CSR of MNCs by formulating policies related to board diversity. Our evidence also helps MNCs to develop the criteria for improving CSR strategy through board diversity.

Date: 2021
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Citations: View citations in EconPapers (7)

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DOI: 10.1080/00036846.2021.1910620

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