As a result of recent corporate scandals, several rules have focused on the role played by Boards of Directors on the planning and monitoring of corporate codes of ethics. In theory, outside directors are in a better position than insiders to protect and further the interests of all stakeholders because of their experience and their sense of moral and legal obligations. Female directors also tend to be more sensitive to ethics according to several past studies which explain this affirmation by (...) early gender socialization, the fact that women are thought to place a greater emphasis on harmonious relations and the fact that men and women use different ethical frameworks in their judgments. The goal of this paper is to determine the influence of these characteristics of the Board in terms of promoting and hindering the creation of a code of ethics. Our findings show that a greater number of female directors does not necessarily lead to more ethical companies. Moreover, within Europe as a continent, board ownership leads to an entrenchment of upper-level management, generating a divergence between the ethical interests of owners and managers. In light of this situation, the presence of independent directors is necessary to reduce such conflicts. (shrink)

In today's world, the corporate image of the largest companies is closely linked to their performance in the field of corporate social responsibility and the disclosure of information on that topic, specifically, on climate change. Since the Board of Directors is the body responsible for this process, the aim of this article is to show the role that companies' Boards of Directors play in the accountability process vis-à-vis stakeholders in relation to one specific aspect which has enormous significance in environmental (...) information: practices used to monitor greenhouse gas emissions. In order to achieve this, we shall verify certain business characteristics, in addition to the size and activity of the Board of Directors, and we shall take different dependence models into consideration. These models will include variables related to the level of independence and diversity of the Board of Directors, which interact with dummy variables representing the company's litigation risks regarding environmental behavior and the institutional macro-context of the organization's country of origin. The results make it clear that Boards of Directors are basically focused on the traditional responsibility of creating economic value, instead of dealing with today's broader business world concepts, which include social responsibility. This focus, therefore, does not favor the accountability process before other stakeholders, if this makes it more difficult to protect the interests of shareholders. (shrink)

Drawing on interviews with women and men who serve on the supervisory boards of German stock-listed companies, this qualitative study examines why some female directors seek to augment gender equality in their organizations while others do not. Those who take action do so both in formal board processes and in informal settings. A sense of belonging to women as a social group and a sense of responsibility for women in the organization are key factors in explaining why some female directors (...) contribute to gender equality. In addition, the study highlights the relevance of a board culture supportive of gender equality and positive expectations by other organizational members about female directors’ role in advancing gender equality. Board chairs influence how supportive female directors perceive the organizational context to be. Where the organizational context is not seen as supportive, those who take equality-related action anyway are experienced directors. Surprisingly, the presence of other women on the board does not appear to be related to whether or not female directors take action. Examining female directors’ actions and paying close attention to both their identities and their specific organizational settings shows how the interplay between social identity and situational opportunities and constraints affects board behavior. (shrink)

This study investigates the effect of country-level emancipative forces on corporate gender diversity around the world. Based on Welzel’s theory of emancipation, we develop an emancipatory framework of board gender diversity that explains how action resources, emancipative values and civic entitlements enable, motivate and encourage women to take leadership roles on corporate boards. Using a sample of 6390 firms operating in 30 countries around the world, our results show positive single and combined effects of the framework components on board gender (...) diversity. Our research adds to the existing literature in a twofold manner. First, our integrated framework offers a more encompassing, complete and theoretically richer picture of the key drivers of board gender diversity. Second, by testing the framework empirically, we extend the evidence on national drivers of board gender diversity. (shrink)

Debates around sound corporate governance propose board diversity as a key attribute to sufficiently challenge executive management for stakeholder engagement. This study contributes to this debate by empirically investigating the effect of board diversity on corporate social disclosure of Vietnamese listed firms. The study finds a significantly positive effect of diversity-in-boards on CSD while diversity-of-boards has no effect on CSD. The results contribute by showing that a single theoretical approach can provide an adequate explanation for board diversity. The study contributes (...) methodologically by demonstrating the design and measurement of board diversity indices, and a three-dimensional stakeholder-relevant CSD index. The findings benefit regulators and corporate executives in better understanding firms’ CSD practices and stakeholders’ expectations. (shrink)

Women are underrepresented in the upper echelons of management in most countries. Despite the effectiveness of identity conscious initiatives for increasing the proportion of women, many organizations have been reluctant to implement such initiatives because potential employees may perceive them negatively. Given the increasing competition for labor, attracting talent is relevant for the long-term success of organizations. In this study, we used an experimental design to examine the effects of identity blind and identity conscious gender diversity initiatives on people’s pursuit (...) intentions toward organizations using them. We used counterfactual thinking, derived from fairness theory, as a guiding framework for our hypothesis development and investigated the moderating influence of a forthcoming government-mandated gender quota as well as individual characteristics. Participants reviewed statements regarding workplace diversity initiatives and rated either the initiatives’ effectiveness or indicated their intentions to pursue employment with organizations using them. Of those rating pursuit intentions, half were informed that the country in which they were conducting their job search was about to implement gender quotas. Results indicated a diversity management paradox such that initiatives perceived as more effective made organizations using them less attractive as employers. However, these negative perceptions were mitigated by a government-mandated quota, and also lower among women. Implications for the study and practice of diversity are discussed. (shrink)

Recent corporate governance literature on gender diversity within boards has linked the effect of an increase in gender diversity to the firm’s corporate reputation. This paper analyzes the media impact of appointing new directors of Spanish companies at a particularly significant moment, during the period from 2007 to 2010, just a year before and 3 years after the Gender Equality Act was passed. By analyzing female and male board nominations in Spanish IBEX-35 companies, the paper examines whether appointing a female (...) does have greater visibility than appointing a male, and thus a potential signaling effect for corporate stakeholders and an effect on the firm’s reputation. Results indicate that the effect on press visibility of appointing a female versus a male is negligible, although there is significant media visibility for new executive directors, in particular for the case of the only woman nominated as an executive director during the period. The paper contributes to the existing literature on gender diversity in corporate governance, specifically its effect on corporate reputation. The paper also offers information relevant to policy making and in particular to the current debate over quotas for women on boards. (shrink)

This study examines whether and how female board directors may affect corporate social performance (CSP) by drawing on social role theory and feminist ethics literature. The empirical analysis, based on a sample of 126 firms drawn from the S&P500 group of companies over a 5-year period, suggests that board gender diversity (BGD) significantly affects CSP. However, this impact depends on the social performance metric under investigation. In particular, more gender diverse boards exert stronger influence on CSP metrics focusing on ‘negative’ (...) business practices, such as the ‘concerns’ dimension of the Kinder Lydenberg Domini, Inc. (KLD) ratings. This is because such CSP ratings have the potential to induce higher levels of ‘empathic caring’, which strongly appeals to female directors. Hence, this study reveals further hidden connections in the BGD–CSP link which have important implications for managers, nongovernmental organisations and socially responsible investors. (shrink)

This article explores how the diversity of board resources and the number of women on boards affect firms' corporate social responsibility (CSR) ratings, and how, in turn, CSR influences corporate reputation. In addition, this article examines whether CSR ratings mediate the relationships among board resource diversity, gender composition, and corporate reputation. The OLS regression results using lagged data for independent and control variables were statistically significant for the gender composition hypotheses, but not for the resource diversitybased hypotheses. CSR ratings had (...) a positive impact on reputation and mediated the relationship between the number of women on the board and corporate reputation. (shrink)

We attempt to provide a novel antecedent of corporate social responsibility (CSR) by focusing on the role of CSR awards. Specifically, we investigate how competitors’ winning CSR awards incentivize non-winning firms’ CSR as a competitive catch-up. Using a difference-in-differences research design, we find that non-winners improve their CSR after their competitors have won CSR awards. Furthermore, based on the awareness-motivation-capability (AMC) framework from the competitive dynamics literature, we find that the media visibility of award winners, the performance gap of non-winners (...) with award winners, and the prior CSR of non-winners strengthen the CSR competitive catch-up behaviors. Findings from this study contribute to the CSR research by highlighting the spillover effect of CSR awards as a meaningful event in incentivizing non-winning firms’ CSR and extending the AMC framework to explain the contingency factors of competitive catch-up in the context of CSR research. (shrink)

This study contributes simultaneously to research on women board members and competitive dynamics by investigating two unresolved research questions: What is the effect of female directors on the firm’s competitive repertoire? Under what conditions is this effect more pronounced? Leveraging the “Awareness-Motivation-Capability” (AMC) framework, we predict that having women on the board of directors should impact the complexity, heterogeneity, and volume of the firm’s competitive moves. Relying upon a sample of U.S. pharmaceutical firms for the years 2000 to 2017, we (...) find that adding female directors on the board positively affects the complexity and volume of a firm’s competitive moves, but negatively impacts the heterogeneity of competitive actions. In addition, the presence of a female CEO moderates these effects, leading to more complex competitive actions and increased volume. Thus, our study lends a greater understanding of how female board members influence competitive dynamics and shape the strategic direction of the firm. (shrink)

This essay bridges together social network and institutional perspectives to examine how women on boards, by breaking up directors’ homophilous networks, contribute to board effectiveness. It proposes that through real and symbolic representations, women enhance perceptions of the board’s instrumental, relational, and moral legitimacy, leading to increased perceptions of the board’s trustworthiness which in turn fosters shareholders’ trust in the firm. Envisioning the gender diversification of boards as an event of institutional change, this article considers the critical role of shareholder (...) activists and legislative support from the SEC in the deinstitutionalization of old boys’ networks and the reinstitutionalization of gender diverse boards. This work is substantiated with evidence obtained through 34 semi-structured interviews, archival and documentary evidence. (shrink)

Business & Society’s 60th anniversary affords an opportunity to reflect on the journal’s achievements in the context of the wider field. We analyze editorial commentaries to map the evolving mission of the journal, assess the achievement of the journal’s mission through a thematic analysis of published articles, and examine Business & Society’s distinctiveness relative to peer journals using a machine learning approach. Our analysis highlights subtle shifts in Business & Society’s mission and content over time, reflecting variation in the relative (...) emphasis on scholarly quality versus policy/practice relevance, and building the journal and its academic community versus addressing issues of concern to wider society. While Business & Society’s intended missions have been substantially and sequentially achieved, an increased emphasis on the society-business nexus and a critical approach to interdisciplinarity could further enhance Business & Society’s leading role within business and society research and attract new generations of contributors and readers. (shrink)

We investigate whether female executives influence perceived employer attractiveness for female job seekers. Drawing on signaling theory, we argue that female members in top management may signal organizational justice and organizational support and may therefore enhance perceived employer attractiveness. Findings from a scenario experiment with 357 participants indicate that female job seekers are more attracted to an organization with a female executive holding a non-stereotypical office [such as Chief Financial Officer ] as compared to an organization with an all-male top (...) management. Results of a structural equation model show that perceived organizational justice mediates the positive effect of a female holding a non-stereotypical office on perceived employer attractiveness, but perceived organizational support does not. Our results challenge the widely held view that women in top management will generally help attract female job seekers; rather, they suggest that a single female executive holding a stereotypical female office even reduces perceived employer attractiveness. (shrink)

This dissertation abstract and the reflection commentary present the work of Dr. Johanne Grosvold. The dissertation addresses the influence of institutional context on the prevalence of women on corporate boards of directors. The dissertation abstract explains the research questions, setting, and methods.The reflection commentary discusses the author’s views of research process as a junior scholar.