In this paper, we investigate how corporate social responsibility (hereafter CSR) practices of domestic Croatian mid and large size firms differentiate them on foreign markets. Still, in order for export organizations to realize benefits offered by CSR, export organizations need to identify their main stakeholder groups and interests, and adequately design their CSR activities. This paper provides an overview of the main CSR activities of export organizations in foreign markets and analyses their stakeholder’s management as well as the quality of relationships with their primary and secondary stakeholders on foreign markets. Results of empirical research on a sample of 78 medium and large Croatian export companies show that these export organizations invest significant efforts in implementation of different CSR activities, and into relationships with their primary stakeholders.
{"title":"Corporate Social Responsibility and Stakeholders’ Management of Export Companies in Foreign Markets","authors":"Andrija Barić, M. Omazić, A. Aleksić","doi":"10.2139/ssrn.3490484","DOIUrl":"https://doi.org/10.2139/ssrn.3490484","url":null,"abstract":"In this paper, we investigate how corporate social responsibility (hereafter CSR) practices of domestic Croatian mid and large size firms differentiate them on foreign markets. Still, in order for export organizations to realize benefits offered by CSR, export organizations need to identify their main stakeholder groups and interests, and adequately design their CSR activities. This paper provides an overview of the main CSR activities of export organizations in foreign markets and analyses their stakeholder’s management as well as the quality of relationships with their primary and secondary stakeholders on foreign markets. Results of empirical research on a sample of 78 medium and large Croatian export companies show that these export organizations invest significant efforts in implementation of different CSR activities, and into relationships with their primary stakeholders.","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129725802","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
An important source of funds for the conflict in the Democratic Republic of the Congo (DRC) is the revenue from minerals mined in the DRC. Non-profits and legislative bodies made efforts to require manufacturers that use "conflict minerals" to learn and disclose their sources. In the mineral supply chain, the critical link between mines and manufacturers is smelters. We study equilibrium sourcing decisions that arise in such a network consisting of manufacturers and smelters. We find the equilibrium depends on the total demand of "compliance-prone" manufacturers, who would choose to be compliant if the prices of certified and non-certified metals were equal. We identify the conditions for the existence of several types of equilibrium: an all-certified equilibrium in which all smelters become certified; an equilibrium in which both metal types co-exist with no shortage of certified metal; and an equilibrium in which both metal types co-exist with a shortage of certified metal. In the event that an all-certified equilibrium is out of reach, we identify how the usage of conflict minerals change as an NGO or a legislative body targets additional manufacturers. An implication of our equilibrium results is that imposing penalties on manufacturers goes only so far: If penalties induce enough manufacturers to become compliance-prone, certified metal may become so expensive that some compliance-prone manufacturers will not comply.
{"title":"Curbing the Usage of Conflict Minerals: A Supply Network Perspective","authors":"Han Zhang, Goker Aydin, H. S. Heese","doi":"10.2139/ssrn.2980369","DOIUrl":"https://doi.org/10.2139/ssrn.2980369","url":null,"abstract":"An important source of funds for the conflict in the Democratic Republic of the Congo (DRC) is the revenue from minerals mined in the DRC. Non-profits and legislative bodies made efforts to require manufacturers that use \"conflict minerals\" to learn and disclose their sources. In the mineral supply chain, the critical link between mines and manufacturers is smelters. We study equilibrium sourcing decisions that arise in such a network consisting of manufacturers and smelters. We find the equilibrium depends on the total demand of \"compliance-prone\" manufacturers, who would choose to be compliant if the prices of certified and non-certified metals were equal. We identify the conditions for the existence of several types of equilibrium: an all-certified equilibrium in which all smelters become certified; an equilibrium in which both metal types co-exist with no shortage of certified metal; and an equilibrium in which both metal types co-exist with a shortage of certified metal. In the event that an all-certified equilibrium is out of reach, we identify how the usage of conflict minerals change as an NGO or a legislative body targets additional manufacturers. An implication of our equilibrium results is that imposing penalties on manufacturers goes only so far: If penalties induce enough manufacturers to become compliance-prone, certified metal may become so expensive that some compliance-prone manufacturers will not comply.","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133963189","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examines how social perception of corporate social responsibility (CSR) and irresponsibility (CSI) affects organizational outcomes. Drawing from the social psychology literature on stereotypes, we argue that two fundamental dimensions of social perception — warmth and competence — mediate and moderate the effects of socially responsible and irresponsible practices. We propose that firms engaging in CSR are perceived as higher in warmth and, by default, competence than firms engaging in CSI; moreover, different perceptions of warmth and competence of the organization explain the asymmetric rewards and penalties for CSR and CSI. We conduct two experiments: Experiment 1 links CSR with perceptions of warmth and competence, and shows that warmth perceptions mediate the relationship between CSR and important organizational outcomes, such as sales and reputation. Experiment 2 adds information on firms’ countries of origin to show that CSR rewards and CSI penalties will differ depending on the (mis)alignment of CSR strategy with country stereotypes. We find that firms from high-warmth countries (USA, Portugal) receive lower benefits for CSR and pay higher penalties for CSI than firms from low-warmth countries (Germany, Pakistan); furthermore, this effect reverses when combined with high competence. This micro-macro study extends social evaluation, strategic CSR, and international management literatures.
{"title":"Microfoundations of Corporate Social Responsibility and Irresponsibility","authors":"Catherine T. Shea, Olga Hawn","doi":"10.2139/ssrn.2380864","DOIUrl":"https://doi.org/10.2139/ssrn.2380864","url":null,"abstract":"This study examines how social perception of corporate social responsibility (CSR) and irresponsibility (CSI) affects organizational outcomes. Drawing from the social psychology literature on stereotypes, we argue that two fundamental dimensions of social perception — warmth and competence — mediate and moderate the effects of socially responsible and irresponsible practices. We propose that firms engaging in CSR are perceived as higher in warmth and, by default, competence than firms engaging in CSI; moreover, different perceptions of warmth and competence of the organization explain the asymmetric rewards and penalties for CSR and CSI. We conduct two experiments: Experiment 1 links CSR with perceptions of warmth and competence, and shows that warmth perceptions mediate the relationship between CSR and important organizational outcomes, such as sales and reputation. Experiment 2 adds information on firms’ countries of origin to show that CSR rewards and CSI penalties will differ depending on the (mis)alignment of CSR strategy with country stereotypes. We find that firms from high-warmth countries (USA, Portugal) receive lower benefits for CSR and pay higher penalties for CSI than firms from low-warmth countries (Germany, Pakistan); furthermore, this effect reverses when combined with high competence. This micro-macro study extends social evaluation, strategic CSR, and international management literatures.","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128216940","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We examine the returns to specialization versus variety in corporate philanthropy. Acknowledging the theoretical rationale for both a specialist and a generalist approach to philanthropy, we took a question-driven, abductive approach and found a robust positive association between philanthropic variety and firm profitability for donations by large US public corporations from 2003 to 2011. This association held for variety across causes but not within causes, for non-local giving and for giving by diversified firms, and was weaker for firms whose donations faced greater scrutiny. These findings are consistent with a moral hazard explanation whereby firms take advantage of the relatively inelastic support for philanthropy within a cause area by strategically spreading their donations across a wide range of supporter interests, thus maximizing profits.
{"title":"Giving a Little to Many or a Lot to a Few? The Returns to Variety in Corporate Philanthropy","authors":"Haram Seo, Jiao Luo, A. Kaul","doi":"10.2139/ssrn.3264902","DOIUrl":"https://doi.org/10.2139/ssrn.3264902","url":null,"abstract":"We examine the returns to specialization versus variety in corporate philanthropy. Acknowledging the theoretical rationale for both a specialist and a generalist approach to philanthropy, we took a question-driven, abductive approach and found a robust positive association between philanthropic variety and firm profitability for donations by large US public corporations from 2003 to 2011. This association held for variety across causes but not within causes, for non-local giving and for giving by diversified firms, and was weaker for firms whose donations faced greater scrutiny. These findings are consistent with a moral hazard explanation whereby firms take advantage of the relatively inelastic support for philanthropy within a cause area by strategically spreading their donations across a wide range of supporter interests, thus maximizing profits.","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125338204","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper presents the findings of a research project funded by ClimateWorks Foundation on Institutional Investors and the Behavioural Barriers to Taking Action on Climate Change. The project focuses on the behavioural drivers that impact on institutional investors’ ability and/or willingness to integrate climate-related risks and opportunities into their investment decisions.
While many investors recognise the growing need to incorporate climate change into investment decisions, it is not a straightforward task and there are a multitude of challenges that investors face that slow down the speed and scale of action required to adapt investment processes. Some of these challenges have been widely debated and often cited, such as lack of consistent signals from government policy makers, the need to upscale new technology advances, a lack of suitable investable opportunities or lack of data, models or suitable metrics.
However, there are additional challenges within the investment community beyond those most commonly cited (which tend to be ‘informational’ barriers), and these relate specifically to investor behaviour itself (Figure 1). Moving beyond the neoclassical assumptions of rationality and perfect information as part of that philosophy’s inadequate approach to investing opens up the door to considering a number of internal behavioural conditions that might be slowing down real action by institutional investors on climate change.
{"title":"Institutional Investors and the Behaviourial Barriers to Taking Action on Climate Change","authors":"D. Guyatt","doi":"10.2139/ssrn.3598847","DOIUrl":"https://doi.org/10.2139/ssrn.3598847","url":null,"abstract":"This paper presents the findings of a research project funded by ClimateWorks Foundation on Institutional Investors and the Behavioural Barriers to Taking Action on Climate Change. The project focuses on the behavioural drivers that impact on institutional investors’ ability and/or willingness to integrate climate-related risks and opportunities into their investment decisions.<br><br>While many investors recognise the growing need to incorporate climate change into investment decisions, it is not a straightforward task and there are a multitude of challenges that investors face that slow down the speed and scale of action required to adapt investment processes. Some of these challenges have been widely debated and often cited, such as lack of consistent signals from government policy makers, the need to upscale new technology advances, a lack of suitable investable opportunities or lack of data, models or suitable metrics. <br><br>However, there are additional challenges within the investment community beyond those most commonly cited (which tend to be ‘informational’ barriers), and these relate specifically to investor behaviour itself (Figure 1). Moving beyond the neoclassical assumptions of rationality and perfect information as part of that philosophy’s inadequate approach to investing opens up the door to considering a number of internal behavioural conditions that might be slowing down real action by institutional investors on climate change.","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132923742","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-01DOI: 10.33545/26633213.2019.v1.i2a.11
Dr Syed Sohaib Zubair, M. Khan
Concern for environment friendly policies and actions is being highly stressed all across the globe. The recent climate conference held in Bonn where heads of several states sat together to develop a roadmap, is an evidence of the need to rethink our habits and take decisions that can benefit the society in the long run. Sustainable development has now become need of the hour. To ensure that this world remains a good place to live in, environment friendly policies should be adopted. Organizations may they be public or private can contribute significantly in ensuring a greener environment if they integrate different basic environment friendly initiatives in to their operations. This basic conceptual paper discusses one step that organizations can take in order to support the cause and need for sustainable growth or environment friendly missions. This study proposes the adoption of sustainable and ecofriendly practices by Human Resource Management departments in organizations in the shape of Green HRM. Green HRM is a concept that has gained attention of scholars recently, this conceptual paper further adds to the basic understanding of this idea.
{"title":"Sustainable Development: The Role of Green HRM","authors":"Dr Syed Sohaib Zubair, M. Khan","doi":"10.33545/26633213.2019.v1.i2a.11","DOIUrl":"https://doi.org/10.33545/26633213.2019.v1.i2a.11","url":null,"abstract":"Concern for environment friendly policies and actions is being highly stressed all across the globe. The recent climate conference held in Bonn where heads of several states sat together to develop a roadmap, is an evidence of the need to rethink our habits and take decisions that can benefit the society in the long run. Sustainable development has now become need of the hour. To ensure that this world remains a good place to live in, environment friendly policies should be adopted. Organizations may they be public or private can contribute significantly in ensuring a greener environment if they integrate different basic environment friendly initiatives in to their operations. This basic conceptual paper discusses one step that organizations can take in order to support the cause and need for sustainable growth or environment friendly missions. This study proposes the adoption of sustainable and ecofriendly practices by Human Resource Management departments in organizations in the shape of Green HRM. Green HRM is a concept that has gained attention of scholars recently, this conceptual paper further adds to the basic understanding of this idea.","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129851979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract As a bottom-up approach, the effectiveness of the environmental information transparency policy hinges on a broad societal ecosystem, including elements such as the active mass media and the robust civil society. However, due to the lack of public participation and accountability mechanisms, it is still doubtful whether the Chinese environmental transparency program promoted corporate pollution mitigation efforts. In this study, we investigated the impacts of the Environmental Information Disclosure (EID) program, an important Chinese environmental transparency program, on corporate mitigation investments, by using the 2012 Chinese Private Enterprise Survey. Our Tobit-IV model provides robust evidence that transparency policy exerts significant influences only on non-politically connected polluters, while, by contrast, politically connected firms are less susceptible to the EID program. We suggest that the community should be empowered to deter the shelter effects of local governors to the connected firms, which deteriorate the effectiveness of the transparency program.
{"title":"The Protected Polluters: Empirical Evidence from the National Environmental Information Disclosure Program in China","authors":"Zhang Tuo, Li Xie","doi":"10.2139/ssrn.3404132","DOIUrl":"https://doi.org/10.2139/ssrn.3404132","url":null,"abstract":"Abstract As a bottom-up approach, the effectiveness of the environmental information transparency policy hinges on a broad societal ecosystem, including elements such as the active mass media and the robust civil society. However, due to the lack of public participation and accountability mechanisms, it is still doubtful whether the Chinese environmental transparency program promoted corporate pollution mitigation efforts. In this study, we investigated the impacts of the Environmental Information Disclosure (EID) program, an important Chinese environmental transparency program, on corporate mitigation investments, by using the 2012 Chinese Private Enterprise Survey. Our Tobit-IV model provides robust evidence that transparency policy exerts significant influences only on non-politically connected polluters, while, by contrast, politically connected firms are less susceptible to the EID program. We suggest that the community should be empowered to deter the shelter effects of local governors to the connected firms, which deteriorate the effectiveness of the transparency program.","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115340359","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
When the word ‘ethical’ becomes synonymous with specious, you know that something is amiss. With each data governance scandal, with each creation of a corporate ‘ethics board’, ‘ethical standards’ seemingly lose a few more feathers, to the point of generating instant suspicion when invoked in any official report. We argue that a key challenge in this regard is to more precisely define the ethics-regulation interface. In order to do this, we first provide an overview of existing attempts at developing ethical frameworks for data intensive technologies. The then turn to the case of healthcare ethics in the UK, to show what a case of a successful process of refinement of the ethics-regulation interface could look like. The third and final section develops the concept of an ethics- regulation interface for data intensive technologies, which would allow for a cross-fertilisation between the political, ethical and legal approaches.
{"title":"Constructing a Mutually Supportive Interface between Ethics and Regulation","authors":"S. Delacroix, B. Wagner","doi":"10.2139/ssrn.3404179","DOIUrl":"https://doi.org/10.2139/ssrn.3404179","url":null,"abstract":"When the word ‘ethical’ becomes synonymous with specious, you know that something is amiss. With each data governance scandal, with each creation of a corporate ‘ethics board’, ‘ethical standards’ seemingly lose a few more feathers, to the point of generating instant suspicion when invoked in any official report. We argue that a key challenge in this regard is to more precisely define the ethics-regulation interface. In order to do this, we first provide an overview of existing attempts at developing ethical frameworks for data intensive technologies. The then turn to the case of healthcare ethics in the UK, to show what a case of a successful process of refinement of the ethics-regulation interface could look like. The third and final section develops the concept of an ethics- regulation interface for data intensive technologies, which would allow for a cross-fertilisation between the political, ethical and legal approaches.","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134051893","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
While cybersecurity has been an important issue for all business sectors due to the rapid development of and reliance on technology and the increasing sophistication of unlawful actors, it is particularly significant for insurance companies because of the nature of the industry. The internet makes it possible to collect and store massive amounts of data, and this in turn requires the utmost confidence of consumers in the companies collecting this data. The growing concern for cyber risks has compelled insurance regulators to devise and implement frameworks and rules for insurance companies to follow. In the United States, insurance regulation is controlled by the states. Invariably, the enthusiasm and speed of responses have been mixed. New York has implemented the Cybersecurity Requirements for Financial Services Companies, while South Carolina, Ohio, Michigan, and Mississippi have passed laws based on the Insurance Data Security Model Law published by the National Association of Insurance Commissioners (NAIC), a non-governmental entity created and composed of insurance commissioners of each state and territory. The specific provisions within these regulations differ, which creates inconsistencies throughout the United States. As more states adopt cyberspace policies regulating the insurance industry, the divergence could worsen. This paper examines the NAIC Model Law and regulations in various states, as well as advocates for a uniform standard across the United States based on the New York regulations due to its robust nature.
{"title":"Regulating the Cybersecurity of Insurance Companies in the United States","authors":"M. B. Kao","doi":"10.2139/ssrn.3399564","DOIUrl":"https://doi.org/10.2139/ssrn.3399564","url":null,"abstract":"While cybersecurity has been an important issue for all business sectors due to the rapid development of and reliance on technology and the increasing sophistication of unlawful actors, it is particularly significant for insurance companies because of the nature of the industry. The internet makes it possible to collect and store massive amounts of data, and this in turn requires the utmost confidence of consumers in the companies collecting this data. The growing concern for cyber risks has compelled insurance regulators to devise and implement frameworks and rules for insurance companies to follow. In the United States, insurance regulation is controlled by the states. Invariably, the enthusiasm and speed of responses have been mixed. New York has implemented the Cybersecurity Requirements for Financial Services Companies, while South Carolina, Ohio, Michigan, and Mississippi have passed laws based on the Insurance Data Security Model Law published by the National Association of Insurance Commissioners (NAIC), a non-governmental entity created and composed of insurance commissioners of each state and territory. The specific provisions within these regulations differ, which creates inconsistencies throughout the United States. As more states adopt cyberspace policies regulating the insurance industry, the divergence could worsen. This paper examines the NAIC Model Law and regulations in various states, as well as advocates for a uniform standard across the United States based on the New York regulations due to its robust nature.<br>","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115441293","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
There are few studies on whether female directors can restrain the tunneling behavior of major shareholders in the Chinese stock market. Based on the analysis of the proportion and independence of female directors, this paper uses the fixed-effect model to analyze the impact of female directors on tunneling behavior of large shareholders in the board of directors, and further studies the difference of this impact between companies with different forms of ownership, and makes an empirical test with the data of A-share listed companies in China from 2008 to 2017. It is found that female directors and independent directors have an inhibitory effect on the tunneling of large shareholders in listed companies, and this effect is more significant in state-owned enterprises than in non-state-owned enterprises. Therefore, only by focusing on the allocation of the proportion of men and women on the board of directors, improving the incentive mechanism and employment system, and continuing to strengthen supervision, can we strengthen the interests of major shareholders, management and minority shareholders, and can effectively improve corporate governance.
{"title":"Female Directors' Monitoring and Major Shareholders' Tunneling: Evidence from Chinese Stock Market","authors":"Guanglei Zhou, Mingfa Ding","doi":"10.2139/ssrn.3632285","DOIUrl":"https://doi.org/10.2139/ssrn.3632285","url":null,"abstract":"There are few studies on whether female directors can restrain the tunneling behavior of major shareholders in the Chinese stock market. Based on the analysis of the proportion and independence of female directors, this paper uses the fixed-effect model to analyze the impact of female directors on tunneling behavior of large shareholders in the board of directors, and further studies the difference of this impact between companies with different forms of ownership, and makes an empirical test with the data of A-share listed companies in China from 2008 to 2017. It is found that female directors and independent directors have an inhibitory effect on the tunneling of large shareholders in listed companies, and this effect is more significant in state-owned enterprises than in non-state-owned enterprises. Therefore, only by focusing on the allocation of the proportion of men and women on the board of directors, improving the incentive mechanism and employment system, and continuing to strengthen supervision, can we strengthen the interests of major shareholders, management and minority shareholders, and can effectively improve corporate governance.","PeriodicalId":388011,"journal":{"name":"Corporate Social Responsibility (CSR) eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128110604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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