The Influence of Female Directors and Institutional Pressures on Corporate Social Responsibility in Family Firms in Latin America
Metadatos
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MDPI
Materia
Corporate social responsibility Family firm Female directors Board of directors Gender Corporate governance
Date
2021Referencia bibliográfica
García-Sánchez, Isabel-María, Lázaro Rodríguez-Ariza, and María-del-Carmen Granada-Abarzuza. 2021. The Influence of Female Directors and Institutional Pressures on Corporate Social Responsibility in Family Firms in Latin America. Journal of Risk and Financial Management 14: 28. https://doi.org/10.3390/jrfm14010028
Patrocinador
Consejeria de Educacion, Junta de Castilla y Leon [Grant/Award No. SA069G18]; Ministerio de Ciencia e Innovacion [Grant/ Award No. ECO2013-43838P]; Ministerio de Ciencia, Innovacion y Universidades [Grant/Award No. RTI2018-093423-B-I00]; Universidad de Salamanca [Grant/Award No. USAL2017-DISAQ]; Cátedra Santander de Empresa Familiar (Universidad de Granada); Accounting area (Universidad de Salamanca)Résumé
This paper has two main aims. Firstly, we examine whether, given a critical mass of female
board members, their presence has a different effect on the firm’s CSR practices according to its family
or non-family nature. We then consider whether the moderating role of the institutional environment
in Latin America enhances the role of female directors in influencing the board’s attitude towards
CSR strategies. The results obtained—from a sample of 22,958 observations, corresponding to an
unbalanced data panel of 5124 companies for the period 2010–2016—confirm our hypothesis and
also highlight the existence of type I (organisational) and type II (institutional) compensation effects,
which reduce or eliminate differences between family and non-family firms, whether or not they are
located in Latin American countries.