How do women on corporate boards shape corporate social performance? Evidence drawn from semiparametric regression

Rey Dang, Lubica Hikkerova and Michel Simioni ()
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Rey Dang: ISTEC - Institut supérieur des Sciences, Techniques et Economie Commerciales - ISTEC
Lubica Hikkerova: IPAG Business School
Michel Simioni: UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro - Montpellier SupAgro - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement

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Abstract: Faced with contrasting results between women on corporate boards (WOCB) and corporate social performance (CSP), this issue warrants further investigation. Given that the relationship between the two is questionable, semiparametric generalized additive models (GAM) are used herein, making it possible to capture the non-linearity of the WOCB-CSP relationship more effectively. This contribution is significant, as many authors have demonstrated the nonlinearity of factors influencing performance, whether of a financial or social nature. Consistent with token and critical mass theories and based on a sample of firms from Fortune 1000 over the period between 2004-2018, the effect of WOCB on CSP is found to be nonlinear. GAMs were used herein to demonstrate that a minimum of WOCB is necessary to generate CSP. However, a critical mass of WOCB is not synonymous with improved CSP. In so doing, this study sheds light on the relationship between WOCB and CSP, which remains a controversial issue.

Keywords: Women on corporate boards; Corporate social responsibility; Corporate social performance; Generalized additive models (search for similar items in EconPapers)
Date: 2021-09-30
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Published in 10th International Conference: Financing Engineering and Banking Society. Financial Stability and Sustainability, IAE Lille; University School of Management, Sep 2021, Lille, France. 23 p

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03356821

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