A Study on the Relationship Among Corporate Governance, Stakeholders and Corporate Social Responsibility Performance-Evidence of Financial Holding Companies in Taiwan
The purpose of this research is to investigate whether corporate governance, stakeholders, and financial information disclosure have any impact to Corporate Social Responsibility (CSR) performance. The study collects research data from 2009 to 2014 of the listed financial holding companies in Taiwan. Logistic and Profit regressions are employed to test the hypotheses. Our results show that the higher holding of directors and supervisors, the better enhancement to CSR performance. On the other hand, the lower duality of board chair and the percentage of shares pledged may cause better CSR performance. In addition, when companies have more close relationship with their stakeholders, they will also be more actively engaged in social responsibility related activities. Finally, higher corporate financial disclosure level is associated with better CSR performance.