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Sustainability 2017, 9(6), 1006; doi:10.3390/su9061006

Firms’ Board Independence and Corporate Social Performance: A Meta-Analysis

1
Department of Accounting and Finance, University of Zaragoza, Plaza de la Constitución s/n, 22001 Huesca, Spain
2
Department of Accounting and Finance, Basque Country University, Plaza de Oñati 1, 20018 San Sebastián, Spain
3
Department of Accounting and Finance, Basque Country University, Comandante Izarduy, 23, 01006 Vitoria-Gasteiz, Spain
*
Author to whom correspondence should be addressed.
Academic Editors: Cosmas M. Ambe, Roger Burritt, Collins C. Ngwakwe and Ki-Hoon Lee
Received: 28 February 2017 / Revised: 27 April 2017 / Accepted: 5 June 2017 / Published: 10 June 2017
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Abstract

This paper investigates the influence of organizations’ board independence on corporate social performance (CSP) using a meta-analytic approach. A sample of 87 published papers is used to identify a set of underlying moderating effects in that relationship. Specifically, differences in the system of corporate governance, CSP measurement models and market conditions have been considered as moderating variables. The results show that the independence of a company’s board positively influences CSP. This is because companies with more independent directors in their boards are more likely to commit to stakeholder engagement, environmental preservation and community well-being. Interestingly, the results also show that the positive connection between board independence and CSP is stronger in civil law countries and when CSP is measured by self-reporting data. Finally, the strength of the influence of the independence of a firm’s board on CSP varies significantly in different market conditions. The paper concludes by presenting the main implications for academics, practitioners and policy makers. View Full-Text
Keywords: corporate social performance; corporate governance; board independence; meta-analysis corporate social performance; corporate governance; board independence; meta-analysis
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Ortas, E.; Álvarez, I.; Zubeltzu, E. Firms’ Board Independence and Corporate Social Performance: A Meta-Analysis. Sustainability 2017, 9, 1006.

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