Do women on corporate boards influence corporate social performance? A control function approach - INRAE - Institut national de recherche pour l’agriculture, l’alimentation et l’environnement Access content directly
Journal Articles Finance Research Letters Year : 2021

Do women on corporate boards influence corporate social performance? A control function approach

Abstract

We examine if women on corporate boards (WOCB) influence a firm's corporate social performance (CSP). To do this, we utilize stakeholder theory. From an empirical standpoint, we use the control function (CF) approach suggested by Wooldridge (2015), which takes into account the issue of endogeneity raised in the literature (namely, omitted variables, reverse causality, and dynamic endogeneity). Using a sample of firms from the S&P 500 between 2004 and 2015, we find that WOCB have a positive and significant effect (at the 5% level) on CSP. We compare our results to more traditional approaches (pooled OLS, the fixed-effects model, and system GMM). We shed light on an issue that is still considered controversial (Byron and Post, 2016).
Fichier principal
Vignette du fichier
2020_Simioni_Finance Research Letters_Postprint.pdf (324.82 Ko) Télécharger le fichier
Loading...

Dates and versions

hal-02891765 , version 1 (07-07-2020)

Identifiers

Cite

Rey Dang, Hocine Houanti, Jean-Michel Sahut, Michel Simioni. Do women on corporate boards influence corporate social performance? A control function approach. Finance Research Letters, 2021, 39, 101645 [8 p.]. ⟨10.1016/j.frl.2020.101645⟩. ⟨hal-02891765⟩
63 View
101 Download

Altmetric

Share

Gmail Mastodon Facebook X LinkedIn More