Board Reputation Attributes and Corporate Social Performance: An Empirical Investigation of the US Best Corporate Citizens

Accounting and Business Research, Forthcoming

41 Pages Posted: 4 Nov 2010

See all articles by Chris Mallin

Chris Mallin

Norwich Business School, University of East Anglia; University of Birmingham - Birmingham Business School

Giovanna Michelon

University of Bristol

Date Written: November 3, 2010

Abstract

The aim of the paper is to investigate the relationship between board reputation and corporate social performance. Specifically, we claim that corporate social performance may be a function of board attributes and we investigate the association between board reputation – in terms of board composition, competence, diversity, leadership, structure and links with the external environment – and the social performance of firms, after controlling for other company-specific characteristics.

In order to explore such a relationship, we analyse the association between corporate social performance and board reputation of the Business Ethics 100 Best Corporate Citizens over the period 2005-2007. Data on corporate social responsibility are collected from the KLD’s SOCRATES database, which is derived from multiple sources and is not dependent upon corporate self-reporting. Data on board reputation are hand-collected from corporate reports and proxy statements.

Our empirical evidence shows that the proportions of independent, community influential and female directors are positively associated with corporate social performance, while the presence of a CSR committee is positively associated with community performance. In contrast, we find that CEO duality and community influential directors with multiple directorships have a negative effect on corporate social performance.

Keywords: Board of Directors, Corporate Social Performance, Stakeholder Theory, Community Influential Directors, Women on the Board

JEL Classification: M14, G39

Suggested Citation

Mallin, Christine and Michelon, Giovanna, Board Reputation Attributes and Corporate Social Performance: An Empirical Investigation of the US Best Corporate Citizens (November 3, 2010). Accounting and Business Research, Forthcoming, Available at SSRN: https://ssrn.com/abstract=1702391

Christine Mallin (Contact Author)

Norwich Business School, University of East Anglia ( email )

Norwich Research Park
Norwich, NR4 7TJ
United Kingdom

University of Birmingham - Birmingham Business School ( email )

Edgbaston Park Road
Birmingham, B15 2TY
United Kingdom

Giovanna Michelon

University of Bristol ( email )

University of Bristol,
Senate House, Tyndall Avenue
Bristol, BS8 ITH
United Kingdom
BS8 1PQ (Fax)

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