EFFECT OF BOARD COMPOSITION ON CORPORATE SOCIAL RESPONSIBILITY PRACTICES

Abstract

This research work aims to determine, at an international level, the relationship between the composition of the board of directors and the level of practices related to corporate social responsibility ( CSR ) . For this purpose , a sample of 1,043 international companies is used . for the period 2003-2009. The empirical evidence obtained shows an inverted U-shaped relationship between board size and CSR practices, as well as a balance between independence ( independent directors) and information/knowledge (executive directors) of the board. Furthermore, it has been found that companies with greater diversity among their directors in terms of nationality and gender , as well as with greater board activity , tend to present a higher level of social , economic and environmental performance . Finally, the results have shown that companies from Anglo-Saxon countries promote CSR practices to a lesser extent than their continental counterparts (located in Germanic and Latin environments), mainly as a result of their greater investor orientation .