The existing literature provides conflicting results on the association between firm performance and corporate social responsibility (CSR) disclosure. This paper empirically examines the effect of firm performance on CSR disclosure in terms of disclosure frequency and quality among Chinese listed firms and the possible mediating effect of corporate ownership on the relationship between firm performance and CSR disclosure. Our findings show that better-performing firms are more likely than worse-performing ones to disclose CSR information and to produce higher quality CSR reports. (...) In addition, the link between firm performance and CSR disclosure is found to be weaker among state-owned enterprises compared with non-state-owned ones. (shrink)

This study examined the relationship between the proportion of women serving on firms' boards of directors and the extent to which these same firms engaged in charitable giving activities. Using a sample of 185 Fortune 500 firms for the 1991-1994 time period, the results provide strong support for the notion that firms having a higher proportion of women serving on their boards do engage in charitable giving to a greater extent than firms having a lower proportion of women serving on (...) their boards. Further, the results suggest a link between the percentage of women on boards and firm philanthropy in the areas of community service and the arts, but found no link between women boardmembers and firm giving to support education or public policy issues. The implications of the findings and some areas for future research are discussed. (shrink)

Despite the economic relevance and distinctiveness of family firms, little attention has been devoted to researching their nature and functioning. Traditionally, family firms have been associated both to positive and negative features in their relationships with the stakeholders. This can be linked to different orientations toward corporate social responsibility. Thus, this research aims to identify the approaches that Spanish family firms maintain about social responsibility, based on the model developed by Quazi and O' Brien Journal of Business Ethics 25, 33-51 (...) (2000). An empirical study carried out for 112 Spanish family firms gives support to our initial assumption about these organizations not being a homogeneous group in terms of their orientation towards corporate social responsibility. The differences in perceptions do not seem to be associated to biographical characteristics. These results lead to some relevant academic and practical implications that suggest interesting lines for future research. (shrink)

Abstract:Extrapolating from Carroll’s four domains of corporate social responsibility (1979) and Pyramid of CSR (1991), an alternative approach to conceptualizing corporate social responsibility (CSR) is proposed. A three-domain approach is presented in which the three core domains of economic, legal, and ethical responsibilities are depicted in a Venn model framework. The Venn framework yields seven CSR categories resulting from the overlap of the three core domains. Corporate examples are suggested and classified according to the new model, followed by a discussion (...) of limitations and teaching and research implications. (shrink)

This paper examines undergraduate business students' perception of corporate social responsibility in cases in which they have not attended any specific course either dealing with CSR or providing training in ethics. A survey was conducted of 535 Spanish business students as future managers. The results show that the stakeholders' perspective deserves a huge attention for those students considering what the keys of business success are. Significant differences in perception were nevertheless identified when a multifactorial analysis was undertaken. Female students are (...) more concerned about CSR issues. The maximization of value for shareholders is less valued by second- and third-year students than by first-year ones. The findings point to a number of important orientations for the future development of university curriculum. (shrink)

Although the composition of the board of directors has important implications for different aspects of firm performance, prior studies tend to focus on financial performance. The effects of board composition on corporate social responsibility (CSR) performance remain an under-researched area, particularly in the period following the enactment of the Sarbanes-Oxley Act of 2002 (SOX). This article specifically examines two important aspects of board composition (i.e., the presence of outside directors and the presence of women directors) and their relationship with CSR (...) performance in the Post-SOX era. With data covering over 500 of the largest companies listed on the U.S. stock exchanges and spanning 64 different industries, we find empirical evidence showing that greater presence of outside and women directors is linked to better CSR performance within a firm’s industry. Treating CSR performance as the reflection of a firm’s moral legitimacy, our study suggests that deliberate structuring of corporate boards may be an effective approach to enhance a firm’s moral legitimacy. (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)

Prior research suggests that ownership structure is associated to corporate social responsibility (CSR) in developed countries. This article examines whether and how ownership structure affects CSR in emerging markets using Chinese firms' social responsibility ranking. Our empirical evidences show that for non-state-owned firms, corporate ownership dispersion is positively associated to CSR. However, for state-owned firms, whose controlling shareholder is the state, this relation is reversed. We attribute the reversed relationship to political interferences and further test this hypothesis by demonstrating that (...) regional economic development is negatively related to CSR for state-owned firms due to decreased political interference in more developed areas. This study is the first to directly examine the relationship between the dispersion of corporate ownership and CSR in emerging markets, and our results depict that it is important to consider ownership type in assessing CSR in emerging market where state ownership is still prevalent such as China. The results also reveal that firm size, profitability, employee power, leverage, and growth opportunity affect CSR in China. (shrink)

The existing literature provides conflicting results on the association between firm performance and corporate social responsibility (CSR) disclosure. This paper empirically examines the effect of firm performance on CSR disclosure in terms of disclosure frequency and quality among Chinese listed firms and the possible mediating effect of corporate ownership on the relationship between firm performance and CSR disclosure. Our findings show that better‐performing firms are more likely than worse‐performing ones to disclose CSR information and to produce higher quality CSR reports. (...) In addition, the link between firm performance and CSR disclosure is found to be weaker among state‐owned enterprises compared with non‐state‐owned ones. (shrink)

Relatively little research has examined the effects of ownership on the firms’ corporate social responsibility (CSR). In addition, most of it has been conducted in the Western context such as the U.S. and Europe. Using a sample of 118 large Korean firms, we hypothesize that different types of shareholders will have distinct motivations toward the firm’s CSR engagement. We break down ownership into different groups of shareholders: institutional, managerial, and foreign ownerships. Results indicate a significant, positive relationship between CSR ratings (...) and ownership by institutions and foreign investors. In contrast, shareholding by top managers is negatively associated with firm’s CSR rating while outside director ownership is not significant. We conclude that different owners have differential impacts on the firm’s CSR engagement. (shrink)

The relationship between gender and ethics has been extensively researched. However, previous studies have assumed that the gender–ethics association is constant; hence, scholars have seldom investigated factors potentially affecting the gender–ethics association. Thus, using managers as the research target, this study examined the relationship between gender and ethics and analyzed the moderating effect of cultural values on the gender–ethics association. The results showed that, compared with female managers, their male counterparts are more willing to justify business-related unethical behaviors such as (...) bribery and tax evasion, and that the gender difference in ethics becomes more pronounced under the cultural dimensions of collectivism, humane orientation, performance orientation, and gender egalitarianism. This study used data obtained through surveying 2,754 managers in 27 nations. (shrink)

This study explores the research paradigms of contemporary business ethics research in 2001–2008. With citation data from the top two business ethics journals included in the Social Sciences Citation Index, this study conducts citation and co‐citation analysis to identify the most important publications, scholars, and research themes in the business ethics area and then maps the intellectual structure of business ethics studies between 2001 and 2008. The results show that current business ethics studies cluster around four major research themes, including (...) morality and social contract theory, ethical decision making, corporate social responsibility, and stakeholder theory. This study helps profile the invisible network of knowledge production in business ethics and provides important insights on current research paradigms of business ethics studies. (shrink)

Using agency theory, this study empirically examined the relationship between board composition and corporate philanthropy. Generally, the ratio of insiders to outsiders, the percentage of insider stock ownership, and the proportion of female and minority board members were found to be positively and significantly associated with firms'' charitable contributions.

In this study, we explore the role of Chief Executive Officers’ incentives, split between monetary and non-monetary, in relation to corporate social responsibility. We base our analysis on a sample of 597 US firms over the period 2005–2009. We find that both monetary and non-monetary incentives have an effect on CSR decisions. Specifically, monetary incentives designed to align the CEO’s and shareholders’ interests have a negative effect on CSR and non-monetary incentives have a positive effect on CSR. The study has (...) important implications for the design of executive remuneration plans, as we show that there are many levers that can affect the CEO’s decisions with regard to CSR. Our evidence also confirms the prominent role of the CEO in relation to CSR decisions, while also recognizing the complexity of factors affecting CSR. Finally, we propose a research design that takes into account endogeneity issues arising when examining compensation variables. (shrink)

This study investigates how ownership concentration in European multinational firms is associated with these firms’ corporate social responsibility (CSR). We employ factor analysis on responsibility data from EIRiS and use a regression analysis. Using firm-level data for almost 700 European firms, we find that shareholder concentration is significantly related to such policies. That is, more concentrated ownership goes hand in hand with poorer CSR policies. In our analysis, we control for size, leverage, profitability, industry, and country of origin. We use (...) several indicators for ownership concentration. We also find that with more concentrated ownership, CSR of the firm gets worse. We suggest that especially with large shareholders, CSR would need to be included in their performance assessment. (shrink)

This study contributes to the work on board composition and firm corporate social responsibility by extending it to the environmental domain. It evaluates the relationship between boards of directors’ composition and environmental corporate social responsibility by integrating literatures on board composition, firm corporate social responsibility, and individual differences in attitudes toward and information about environmental issues. Using disclosed company data and the natural environment ratings data from Kinder Lydenberg Domini Inc. for 78 Fortune 1000 companies, the study finds that a (...) higher proportion of outside board directors is associated with more favorable ECSR and higher KLD strengths scores. Firms with boards composed of three or more female directors received higher KLD strengths scores. And, boards whose directors average closer to 56 years in age and those with a higher proportion of Western European directors are more likely to implement environmental governance structures or processes. Our results also reinforce growing concerns around unidimensional KLD measures. (shrink)

This study explores the research paradigms of contemporary business ethics research in 2001–2008. With citation data from the top two business ethics journals included in the Social Sciences Citation Index, this study conducts citation and co-citation analysis to identify the most important publications, scholars, and research themes in the business ethics area and then maps the intellectual structure of business ethics studies between 2001 and 2008. The results show that current business ethics studies cluster around four major research themes, including (...) morality and social contract theory, ethical decision making, corporate social responsibility, and stakeholder theory. This study helps profile the invisible network of knowledge production in business ethics and provides important insights on current research paradigms of business ethics studies. (shrink)

There is increasing interest in determining what impact having women in management positions may have on corporate social responsibility initiatives. Various authors suggest that gender equality practices should be factored into the broader framework of CSR. This paper examines how the presence of women on corporate boards, in top and middle management and as heads of CSR departments, influences gender equality practices in the field of CSR. Using information collected from companies that have signed up to Women's Empowerment Principles in (...) Spain, we show that the presence of women in the aforesaid posts has a positive impact on CSR activities with gender equality objectives. We thus supplement the justice, business and moral arguments with further arguments in support of the incorporation of women into not only corporate boards but all management positions. Finally, we provide a view of how gender equality can be included in the broader framework of CSR. (shrink)

The concept of responsible ownership was originally developed with reference to large, publicly held firms. However, the relevance of small- and medium-sized closely held firms, such as family firms, in all economies and the specific governance and organisational characteristics of these firms require further examination of the responsible ownership concept and its operationalisation. Based on the existing literature, we define the construct of responsible family ownership to fill this gap in responsible ownership theory. We propose a scale that can be (...) used to assess the responsible family ownership construct in small- and medium-sized family enterprises. The data used in this exploratory study were collected in an ad hoc survey answered by a representative sample of 84 small- and medium-sized family enterprises. The study contributes to the responsible ownership literature by presenting the responsible family ownership construct, a key driver of balance in family and firm systems that is therefore critical to the health of small- and medium-sized family enterprises. In addition, a scale is proposed as a means to operationalise the construct and to derive practical implications for the governance of this kind of firms. (shrink)

A survey-based research study was conducted to analyze sustainability practices of large U.S. corporations in their domestic and international operations. Large U.S. corporations were slow to address global environmental challenges, but a majority of them now demonstrate a clear understanding of their responsibilities. Most large U.S. corporations are proactively involved in sustainability and environmentally friendly measures, and their involvement at home is more intense than abroad. Analyses revealed that U.S. corporations engage in eight activities related to sustainability: investing in energy-efficient (...) methods, generating electricity from solar power, generating electricity from wind power, using biofuels, trading carbon credits, supporting environmental organizations, generating electricity from biomass, and generating electricity from hydropower. Of these, only generating electricity from biomass and hydropower were not significantly different with respect to U.S. corporations’ foreign and domestic implementation. This paper represents the first attempt to determine whether and how U.S. corporations’ efforts to promote sustainability differ with respect to their operational locus. (shrink)