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The effect of CSR on corporate financial performance, considering the role of female representation in the retail industry

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  • Javad Izadi
  • Manita Kaur Shetra
  • Pantea Foroudi
  • Maria Palazzo

Abstract

The aim of this study is to examine relationships between CSR and corporate financial performance, considering the role of board diversity in retail industry in the UK. The theories examined include Friedman's theory and Stakeholder theory, which have conflicting ideas on whose needs a company should serve. Quantitative methodology is utilized to capture sample data comprising 10 years of financial data. Data were collected on companies listed on the FTSE 100 during 2012–2021 that were operating in the UK retail sector. This study uses regression analysis to test the hypothesis that analyses the relationship between CSR, gender diversity, and financial performance. There is no significant relationship between gender diversity and financial performance. The number of female directors on the board does not impact financial performance, so the regression analysis does not allow us to reject the null hypothesis. Instead, past performance, sales growth, and leverage impact financial performance.

Suggested Citation

  • Javad Izadi & Manita Kaur Shetra & Pantea Foroudi & Maria Palazzo, 2025. "The effect of CSR on corporate financial performance, considering the role of female representation in the retail industry," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(2), pages 1863-1878, March.
    • Handle: RePEc:wly:corsem:v:32:y:2025:i:2:p:1863-1878
    DOI: 10.1002/csr.3045
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