The effect of board composition on CSR assurance decisions
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2020-06-26
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en
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This paper examines the effect of board composition on the decisions that firms make regarding the external assurance of their CSR reports. The paper investigates if the combination of board independence, expertise and gender diversity increases the likelihood of firms deciding to assure their CSR reports, to choose an assurance provider from the accounting profession, and to choose a higher level and a broader scope of assurance. Furthermore, the possible moderating effect of board composition on the association between sustainability performance and the firm’s assurance-related decisions is examined. Using a European sample of 670 individual firms for the period of 2013-2017, the results show a significant direct effect of the combination of board characteristics on the decision to buy assurance, and on the decision for the type of assurance provider and the level of assurance. A moderating effect of board composition is only found for the type of assurance provider. For the scope of assurance, board composition is not found to have a (direct or moderating) effect.
Keywords: CSR reporting, assurance, board composition
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Faculteit der Managementwetenschappen