CORPORATE SOCIAL RESPONSIBILITY IN CANADIAN FAMILY BUSINESS: A SOCIOEMOTIONAL WEALTH PERSPECTIVE
Purpose – This paper explores the effect of gender diversity on the company's corporate social responsibility by comparing the family to non-family ones.
Design/methodology/approach – To test our hypotheses, we used Canadian companies listed on S&P TSX during the period 2014-2018.
Findings –Using the social emotional theory framework, our results show that Canadian family businesses are more likely to engage in corporate social responsibility compared to non-family ones. Furthermore, our findings reveal the moderating effect of board gender diversity on the above-proven relationship. These results highlight that gender diversity strengthens the positive relationship between family businesses and corporate social responsibility engagement. Supplementary analysis suggests that this positive impact occurs once the critical mass (three female directors) is reached.
Originality/value – Our study enlightens the enhancement of ethical behaviours by nonstatutory gender diversity among board members within the world leader in social responsibility engagement that are Canadian family businesses.
Keywords - Family Business, CSR, Board Gender Diversity, Socialemotional Wealth Theory.