Female board participation and CSR performance: the moderating role of CEO duality.
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2024-07-08
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en
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The purpose of this study is to examine the influence of female board participation and CEO duality on CSR performance. Specifically, it investigates whether the presence of a CEO on the board of directors influences the relationship between the number of women on the board of directors and a company’s CSR performance. Based on the balanced panel data sample of 1151 multi-industry American firms during the period 2016-2021, the study employs a pooled Ordinary Least Squares regression model to explore this relationship. Robustness is ensured by performing the analysis with an additional control variable and with an alternative measurement of female board participation. The findings from this analysis suggest that the amount of women on the board of directors is indeed related to more responsible business conduct from both the social and environmental perspectives. Contrary to initial assumptions, no evidence is found for decreased CSR performance in companies where the CEO is simultaneously a board member. The moderating effect of CEO duality on the relationship between female board participation and CSR performance returns insignificant results. This research contributes to the literature on corporate governance and could be of value to firms, it’s stakeholders, and policy makers by shedding light on how CSR performance could be enhanced.
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Faculteit der Managementwetenschappen