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Journal of Business Ethics

Erschienen in:

14.04.2015

Exploring the Relationship Between Board Characteristics and CSR: Empirical Evidence from Korea

verfasst von: Young Kyun Chang, Won-Yong Oh, Jee Hyun Park, Myoung Gyun Jang

Erschienen in: Journal of Business Ethics | Ausgabe 2/2017

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Abstract

Previous studies in Western contexts have examined the relationships between various board characteristics and CSR, yet the relationships need to be re-examined in non-Western contexts given differential theoretical premises across contexts. We specifically propose that the effects of board characteristics on CSR in Korea should be patterned distinctively from Western-based existing literature, focusing on three important board characteristics, such as a board’s independence, social ties, and diversity. Using a panel dataset from large Korean firms, we found that various relationships between board characteristics and CSR were non-linear, whereas most of the previous research on Western contexts found that the same relationships were linear. Specifically, curvilinear relationships were found between CSR and board independence (i.e., exponentially growing shape), CEO-outside director social ties (i.e., inverted U-shape), and educational diversity (i.e., U-shape). Our findings suggest that there is no universal feature of CSR-supportive board characteristics due to the unique characteristics of various institutional contexts.

Vorheriger Artikel How Does Environmental Corporate Social Responsibility Matter in a Dysfunctional Institutional Environment? Evidence from China

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Because there is a ‘corporate governance’ domain in KEJI, we also used adjusted CSR ratings by excluding scores directly related to boards of directors. The results are similar to the reported ones.

For the sake of robustness, we also conducted a GLS random-effects model, and the results are similar to the reported ones: squared terms of board independence (β = 0.86, p ≤ 0.05), CEO-outside director social ties (β = −2.73, p ≤ 0.05), and educational diversity (β = 2.91, p ≤ 0.05).

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Titel: Exploring the Relationship Between Board Characteristics and CSR: Empirical Evidence from Korea
verfasst von: Young Kyun Chang
Won-Yong Oh
Jee Hyun Park
Myoung Gyun Jang
Publikationsdatum: 14.04.2015
Verlag: Springer Netherlands
Erschienen in: Journal of Business Ethics / Ausgabe 2/2017
Print ISSN: 0167-4544
Elektronische ISSN: 1573-0697
DOI: https://doi.org/10.1007/s10551-015-2651-z

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