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When Do Women Make a Better Table? Examining the Influence of Women Directors on Family Firm’s Corporate Social Performance

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  • Cristina Cruz
  • Rachida Justo
  • Martín Larraza-Kintana
  • Lucía Garcés-Galdeano

Abstract

Our paper seeks to further understand the influence of gender board diversity on firms’ corporate social performance (CPS) in the context of publicly held family firms. Grounded on corporate governance and family firm literature, we argue that the influence of women directors on CSP will be contingent on their relative power and legitimacy within the board, and that such dynamics are particularly important in family firm boardrooms. Our empirical results show that increases in CSP associated with the presence of women in the boards of family firms are due mainly to the presence of outsider nonfamily and insider family women directors. Implications for the theory of family firms are discussed.

Suggested Citation

  • Cristina Cruz & Rachida Justo & Martín Larraza-Kintana & Lucía Garcés-Galdeano, 2019. "When Do Women Make a Better Table? Examining the Influence of Women Directors on Family Firm’s Corporate Social Performance," Entrepreneurship Theory and Practice, , vol. 43(2), pages 282-301, March.
    • Handle: RePEc:sae:entthe:v:43:y:2019:i:2:p:282-301
    DOI: 10.1177/1042258718796080
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    2. María Fernández-Muiños & Kevin Money & Anastasiya Saraeva & Irene Garnelo-Gomez & Luis Vázquez-Suárez, 2022. "Are the Sins of the Father the Sins of the Sons, but Not the Daughters? Exploring How Leadership Gender and Generation Impact the Corporate Social Responsibility of Franchise Firms," Sustainability, MDPI, vol. 14(14), pages 1-20, July.
    3. Hashim, Sumaya & Naldi, Lucia & Markowska, Magdalena, 2021. "“The royal award goes to…”: Legitimacy processes for female-led family ventures," Journal of Family Business Strategy, Elsevier, vol. 12(3).
    4. Bettinelli, Cristina & Del Bosco, Barbara & Gentry, Richard J. & Dibrell, Clay, 2023. "The influence of board social activity on firm performance," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    5. Tenuta, Paolo & Cambrea, Domenico Rocco, 2022. "Corporate social responsibility and corporate financial performance: The role of executive directors in family firms," Finance Research Letters, Elsevier, vol. 50(C).
    6. Giovanna Gavana & Pietro Gottardo & Anna Maria Moisello, 2022. "Related Party Transactions and Earnings Management: The Moderating Effect of ESG Performance," Sustainability, MDPI, vol. 14(10), pages 1-21, May.
    7. Wang, Joyce C. & Zhao, Yiyi & Sun, Sunny L. & Zhu, Jigao, 2023. "Female-friendly boards in family firms," Journal of Business Research, Elsevier, vol. 157(C).
    8. Nerantzidis, Michail & Tzeremes, Panayiotis & Koutoupis, Andreas & Pourgias, Apostolos, 2022. "Exploring the black box: Board gender diversity and corporate social performance," Finance Research Letters, Elsevier, vol. 48(C).
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