Gender diversity and firm performance: the role of corporate social responsibility
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Date
2023
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Publisher
KNUST
Abstract
This study examines how CSR moderates the relationship between board gender diversity and firm performance. Seventeen non-financial enterprises listed on the Ghana stock markets are sampled from 2009 to 2021. The design for the study is explanatory, and the data are analysed using panel regression. This study finds that eight of the seventeen firms do not commit any resources towards CSR activities financially. Also, the study finds that firms are not able to maintain consistent financial support toward CSR activities. Only three firms show consistent CSR commitment, and two of them are state-owned firms. The study also finds that board gender diversity has a significant positive effect on firm performance. There are two metrics of firm performance. Board gender diversity is significant at the 10 per cent level with ROA and significant at the 5 per cent level with GPM. The study finds that CSR does not moderate the relationship between board gender diversity and firm performance. The interaction between board gender diversity and CSR is significant at the 10 per cent level for ROA but insignificant for GPM (p-value; 0.24). This study recommends that firms should establish a diversity policy that include goals and metrics for increasing board gender diversity. The policy should be communicated to stakeholders and progress should be regularly reported.
Description
A thesis submitted to the department of accounting and finance, college of humanities and social sciences, in partial fulfillment of the requirements for the degree of master of science in accounting and finance