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The Influence of Female Directors and Institutional Pressures on Corporate Social Responsibility in Family Firms in Latin America

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  • Isabel-María García-Sánchez

    (IME-Instituto Multidisciplinar de Empresa, Departamento de Administración y Economía de la Empresa, Campus Miguel de Unamuno, Universidad de Salamanca, 37007 Salamanca, Spain)

  • Lázaro Rodríguez-Ariza

    (Departamento de Economía financiera y Contabilidad, Campus La Cartuja s/n, Universidad de Granada, 18071 Granada, Spain)

  • María-del-Carmen Granada-Abarzuza

    (Departamento de Administración y Economía de la Empresa, Campus Miguel de Unamuno, Universidad de Salamanca, 37007 Salamanca, Spain)

Abstract

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.

Suggested Citation

  • Isabel-María García-Sánchez & Lázaro Rodríguez-Ariza & María-del-Carmen Granada-Abarzuza, 2021. "The Influence of Female Directors and Institutional Pressures on Corporate Social Responsibility in Family Firms in Latin America," JRFM, MDPI, vol. 14(1), pages 1-20, January.
    • Handle: RePEc:gam:jjrfmx:v:14:y:2021:i:1:p:28-:d:476944
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