Does Board Composition Influence CSR Disclosure? Evidence from Dynamic Panel Analysis

La composición de la junta influye en la divulgación de la RSC? Evidencia del análisis de panel dinámico

Rey Dang, L’hocine Houanti, Nhu-Tuyen Lê and Jean-Michel Sahut
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Rey Dang: ISTEC - Institut supérieur des Sciences, Techniques et Economie Commerciales - ISTEC
L’hocine Houanti: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Nhu-Tuyen Lê: EESC-GEM Grenoble Ecole de Management
Jean-Michel Sahut: IDRAC Business school Lyon - Institut pour le Développement et la Recherche d'Action Commerciale - Université de Lyon

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Abstract: Given the importance of corporate social responsibility (CSR) and corporate governance, this study examines the association between board composition and CSR disclosure on a sample of S&P 500 firms over the period from 2004 to 2015. Unlike existing studies, we control for potential sources of endogeneity using a system-generalized method of moments (system GMM) estimator. In doing so, we find no evidence that board size, board independence or CEO duality has any significant influence on CSR disclosure. Rather, our results suggest that, when the problem of endogeneity is correctly taken into account, the link between board composition and CSR disclosure is neutral.

Keywords: Corporate governance; CSR disclosure; Agency theory; Resource dependence theory; Corporate social responsibility; Board composition; Gobierno corporativo; Divulgación de RSC; Teoría de la Agencia; Teoría de dependencia de recursos; Responsabilidad social corporativa; Composición del tablero; Gouvernance d’entreprise; Divulgation d’information RSE; Théorie de l’agence; Théologie de la dépendance aux ressources; Responsabilité sociale des entreprises; Composition du conseil (search for similar items in EconPapers)
Date: 2021-05-27
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Published in Management international = International management = Gestión internacional, 2021, 25 (2), pp.52-69. ⟨10.7202/1077784ar⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05001097

DOI: 10.7202/1077784ar

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