期刊
EMERGING MARKETS FINANCE AND TRADE
卷 54, 期 13, 页码 2965-2981出版社
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/1540496X.2018.1453355
关键词
altruism preference; corporate social responsibility; female executive; propensity score matching
资金
- National Natural Science Foundation of China [71790593, 71521061]
- China Postdoctoral Science Foundation [2018M631984]
How do female executives view corporate social responsibility (CSR)? Previous studies have reported mixed findings on the relationship between female executives and CSR. We select a sample of Chinese listed firms and use propensity score matching to construct a new sample of firms and evaluate the gender transition (from male to female) of chief executive officers or board chairpersons (executives) who are randomly assigned to firms (i.e., the gender transition of executives is regarded as an exogenous event). Subsequently, we use a difference-in-differences approach to identify the pure effect of female executives on CSR. Our results indicate that female executives are more likely to encourage CSR reporting. Moreover, we suggest that the mechanism behind female executives prioritizing CSR is altruism preference rather than risk aversion preference.
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