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A female style in corporate social responsibility? Evidence from charitable donations

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  • Jidong Zhang

    (Winona State University)

  • Jing Han

    (Winona State University)

  • Meiqun Yin

    (Beijing International Studies University)

Abstract

This study examines whether and how women directors influence firms’ corporate social responsibility (CSR) activities. From two Chinese Stock Exchanges, we collected a sample of firms that had made charitable donations during the earthquakes in China in either 2008 or 2010. Our analysis showed that the percentage of women directors on the board had significant impact on firms’ donations during natural disasters, and such influence was stronger when firm performance was poor rather than good. Moreover, the presence of women directors tended to lead to a reduction in the size of donations among high-performing firms. Donations from firms with a higher percentage of women directors were more likely to be in the form of properties rather than cash. Our results indicated that gender diversity in the boardroom influences firms’ CSR activities. We suggest that public firms with more women directors on the board tend to be more conservative when engaging in CSR activities. Contributions to the literature and practical implications are also discussed.

Suggested Citation

  • Jidong Zhang & Jing Han & Meiqun Yin, 2018. "A female style in corporate social responsibility? Evidence from charitable donations," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 15(3), pages 185-196, August.
    • Handle: RePEc:pal:ijodag:v:15:y:2018:i:3:d:10.1057_s41310-018-0046-y
    DOI: 10.1057/s41310-018-0046-y
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    2. María del Carmen Valls Martínez & Pedro Antonio Martín Cervantes & Salvador Cruz Rambaud, 2020. "Women on corporate boards and sustainable development in the American and European markets: Is there a limit to gender policies?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(6), pages 2642-2656, November.
    3. Mariasole Bannò & Emilia Filippi & Sandro Trento, 2023. "Women in top echelon positions and their effects on sustainability: a review, synthesis and future research agenda," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(1), pages 181-251, March.
    4. Francesco Gangi & Lucia Michela Daniele & Nicola Varrone, 2020. "How do corporate environmental policy and corporate reputation affect risk‐adjusted financial performance?," Business Strategy and the Environment, Wiley Blackwell, vol. 29(5), pages 1975-1991, July.
    5. Nurlan Orazalin & Monowar Mahmood, 2021. "Toward sustainable development: Board characteristics, country governance quality, and environmental performance," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3569-3588, December.
    6. Francisco Bravo & Nuria Reguera‐Alvarado, 2019. "Sustainable development disclosure: Environmental, social, and governance reporting and gender diversity in the audit committee," Business Strategy and the Environment, Wiley Blackwell, vol. 28(2), pages 418-429, February.
    7. Eric Van Steenburg & Nwamaka A. Anaza & Ahmed Ashhar & Andres Barrios & Ashley R. Deutsch & Meryl P. Gardner & Preeti Priya & Abhijit Roy & Anu Sivaraman & Kimberly A. Taylor, 2022. "The new world of philanthropy: How changing financial behavior, public policies, and COVID‐19 affect nonprofit fundraising and marketing," Journal of Consumer Affairs, Wiley Blackwell, vol. 56(3), pages 1079-1105, September.
    8. Ge Wang & Huijin Zhang & Saixing Zeng & Xiaohua Meng & Han Lin, 2023. "Reporting on sustainable development: Configurational effects of top management team and corporate characteristics on environmental information disclosure," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(1), pages 28-52, January.
    9. Lei Xu & Xiaoning Guo & Yan Liu & Xiaochen Sun & Jie Ji, 2022. "How Does Corporate Charitable Giving Affect Enterprise Innovation? A Literature Review and Research Directions," Sustainability, MDPI, vol. 14(23), pages 1-21, November.

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