Board gender diversity and corporate social responsibility

Chang, Yuan; Wu, Kun-Tsung; Lin, Shu-Hui; Lin, Chia-Jung

doi:10.1186/s40991-024-00095-x

International Journal of Corporate Social Responsibility

Table 9 The effects of female directors with greater level of education, tenure and board meeting attendance on CSR performance

From: Board gender diversity and corporate social responsibility

Explanatory Variable	Explained Variables (current CSR performance: csrdummy)
Explanatory Variable	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)
fddphd*	0.00549
fddphd*	(1.57)
fdnphd*		0.00470***
fdnphd*		(3.47)
fiddphd*			0.0123**
fiddphd*			(2.47)
fddtenure*				0.000583**
fddtenure*				(2.07)
fdntenure*					0.000281**
fdntenure*					(2.00)
fiddtenure*						0.000288
fiddtenure*						(0.81)
fddattend*							0.000118
fddattend*							(0.99)
fdnattend*								0.0000744**
fdnattend*								(2.38)
fiddattend*									0.000109**
fiddattend*									(1.96)
BD vars	included	included	included	included	included	included	included	included	included
CONTROLs	included	included	included	included	included	included	included	included	included
Constant	included	included	included	included	included	included	included	included	included
Num. of obs.	19,875	19,875	19,875	5,368	5,368	5,368	7,048	7,048	7,048
Adj. R-square	0.101	0.102	0.102	0.111	0.111	0.111	0.112	0.113	0.113
Prob. of F-stat.	0.000	0.000	0.000	0.000	0.000	0.000	0.000	0.000	0.000

This table reports the regression estimates of the effects of female directors with greater level of education, tenure and board meeting attendance on CSR Performance (current CSR performance: csrdummy). The main explanatory variables in models (1) to (9) are, the intersection of the dummy of whether a firm has female director and whether firm’s female director has Ph.D. degree (fdd*phd), the intersection of the number of female director and whether firm’s female director has Ph.D. degree (fdn*phd), the intersection of the whether a firm has female independent director and whether firm’s female director has Ph.D. degree (fidd*phd), the intersection of the dummy of whether a firm has female director and female directors’ average tenure (fdd*tenure), the intersection of the number of female director and female directors’ average tenure (fdn*tenure), the intersection of the whether a firm has female independent director and female directors’ average tenure (fidd*tenure), the intersection of the dummy of whether a firm has female director and female directors’ average board meeting attendance rate (fdd*attend), the intersection of the number of female director and female directors’ average board meeting attendance rate (fdn*attend), the intersection of the whether a firm has female independent director and female directors’ average board meeting attendance rate (fidd*attend), respectively. Control variables include firm size (asset), debt ratio (debt), returns on assets (roa), institutional investors shareholdings (insthold), and the dummy of whether a firm is a family-controlled firm (family). The data period is from 2007 to 2020. The t-values of the estimated coefficients are shown in parentheses, and *, **, and *** indicate statistical significance at the 10%, 5%, and 1% levels, respectively

Back to article page