Does a Foreign Board Improve Corporate Social Responsibility?
This study examines the effect of foreign boards on corporate social responsibility, exploring the issues of two-tier board systems (boards of directors and boards of commissioners). Using data for manufacturing firms listed on the Indonesia Stock Exchange over the sample period of 2017–2019, the re...
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| Veröffentlicht in: | Sustainability 2021-10, Vol.13 (20), p.11473 |
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| creator | Setiawan, Doddy Brahmana, Rayenda Khresna Asrihapsari, Andi Maisaroh, Siti |
| description | This study examines the effect of foreign boards on corporate social responsibility, exploring the issues of two-tier board systems (boards of directors and boards of commissioners). Using data for manufacturing firms listed on the Indonesia Stock Exchange over the sample period of 2017–2019, the results suggest that a foreign board engages more in corporate social responsibility activities. Our key finding remains robust with respect to all foreign board measures (foreign ownership, foreign board members, foreign directors, foreign commissioners, foreign CEO, and foreign chairperson) and to alternative estimation methods, and pass a series of endogeneity checks. We established the causal effect from foreign boards to CSR, supporting institutional theory and contesting agency theory. |
| doi_str_mv | 10.3390/su132011473 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 2071-1050 |
| ispartof | Sustainability, 2021-10, Vol.13 (20), p.11473 |
| issn | 2071-1050 2071-1050 |
| language | eng |
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| source | MDPI - Multidisciplinary Digital Publishing Institute; EZB Electronic Journals Library |
| subjects | Boards of directors Corporate governance Earnings Hypotheses Legitimacy Social responsibility Stock exchanges Sustainability Value added |
| title | Does a Foreign Board Improve Corporate Social Responsibility? |
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