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Review of Managerial Science

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19.10.2016 | Original Paper

Factors influencing board of directors’ decision-making process as determinants of CSR engagement

verfasst von: José-Luis Godos-Díez, Laura Cabeza-García, Daniel Alonso-Martínez, Roberto Fernández-Gago

Erschienen in: Review of Managerial Science | Ausgabe 1/2018

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Abstract

This paper focuses on the determinants of Corporate Social Responsibility (CSR) at the organisational level. Specifically, it aims to understand the influence of not previously analysed board of directors’ characteristics on a company’s CSR engagement. A random effect probit model was applied to a panel of Spanish non-financial and non-insurance listed firms over the period 2009–2013. The analyses revealed that the existence of a board sub-committee responsible for social and environmental matters and its size, the establishment of a statutory term limit for independent directors and the possibility for directors of receiving advice from external sources positively affect a firm’s CSR engagement. This paper contributes to the debate about corporate governance and CSR by relating factors determining the decision-making process at boards of directors to CSR. Thus, it extends research on the board as a driver for social and environmental issues and suggests new ways to deal with this issue empirically.

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Companies that are more than 90 %-owned by another listed firm in the sample.

Introduced in the empirical analysis as a logarithm.

There is no statistic validity for a probit fixed effects model (Greene 1999). When dummy variables are used, the fixed effect model does not identify why the linear regression changes over time and in different firms, with a reduction in the degrees of freedom.

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Titel: Factors influencing board of directors’ decision-making process as determinants of CSR engagement
verfasst von: José-Luis Godos-Díez
Laura Cabeza-García
Daniel Alonso-Martínez
Roberto Fernández-Gago
Publikationsdatum: 19.10.2016
Verlag: Springer Berlin Heidelberg
Erschienen in: Review of Managerial Science / Ausgabe 1/2018
Print ISSN: 1863-6683
Elektronische ISSN: 1863-6691
DOI: https://doi.org/10.1007/s11846-016-0220-1

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