Ownership structure, stakeholder engagement, and corporate social responsibility policies: The moderating effect of board independence
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Otros documentos de la autoría: A. A. Zaid, Mohammad; T. F. Abuhijleh, Sara; Pucheta-Martínez, María Consuelo
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Título
Ownership structure, stakeholder engagement, and corporate social responsibility policies: The moderating effect of board independenceFecha de publicación
2020-01-06Editor
WileyISSN
1535-3958; 1535-3966Cita bibliográfica
Zaid, MAA, Abuhijleh, STF, Pucheta‐Martínez, MC. Ownership structure, stakeholder engagement, and corporate social responsibility policies: The moderating effect of board independence. Corp Soc Responsib Environ Manag. 2020; 1– 17. https://doi.org/10.1002/csr.1888Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
https://onlinelibrary.wiley.com/doi/full/10.1002/csr.1888Versión
info:eu-repo/semantics/submittedVersionPalabras clave / Materias
Resumen
This study primarily purposes to empirically examine the impact of stakeholder engagement mechanism in the form of professional shareholders on the corporate social responsibility (hereafter CSR) disclosure and how ... [+]
This study primarily purposes to empirically examine the impact of stakeholder engagement mechanism in the form of professional shareholders on the corporate social responsibility (hereafter CSR) disclosure and how the previous nexus is shaped and moderated by the level of board independence within a dynamic framework. An agency theory framework is adopted to understand the extent to which professional shareholders, such as government, institutional, and foreign, influence the firm's CSR reporting. To the best of our knowledge, most of the prior studies in the CSR field have not yet provided a profound analysis of the moderating effect of board independence on the relationship between ownership structure and CSR disclosure. Hence, working on this sensitive issue merits our attention and deserves our recognition. Due to endogeneity bias, our reported results vary in their significance level across the three econometric models: pooled ordinary least square, fixed effects, and two‐step system generalized method of moments. The findings unveiled that the effect of government, institutional, and foreign investors on CSR disclosure is more positive under conditions of the high level of board independence. The study sheds new light onto the paradoxical empirical findings of the prior research that has tried to link ownership structure to CSR disclosure directly by analyzing the significant role of independent directors on the aforementioned nexus. Further, this study pays rigorous attention to provide multidimensional insights for responsible parties to support the notion of stakeholder engagement mechanism beyond the current boundaries. [-]
Descripción
This is the pre-peer reviewed version of the following article: Ownership structure, stakeholder engagement, and corporate social responsibility policies: The moderating effect of board independence, which has been ... [+]
This is the pre-peer reviewed version of the following article: Ownership structure, stakeholder engagement, and corporate social responsibility policies: The moderating effect of board independence, which has been published in final form at https://doi.org/10.1002/csr.1888. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. [-]
Publicado en
Corporate Social Responsibility and Environmental Management, 2020Proyecto de investigación
University Jaume I, Grant/Award Number: UJI‐B2018‐15; Spanish Ministry of Economy, Industry and Competitiveness, Grant/Award Number: ECO 2017‐82259‐RDerechos de acceso
Copyright © John Wiley & Sons, Inc.
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