The purpose of this paper is to argue the relationship between managerial entrenchment (ME), corporate social responsibility (CSR) and gender diversity. Specifically, this paper aims to empirically examine the impact of board gender diversity (BGD) and gender diversity in top management teams (TMTs) on the relationship between ME and CSR.
This study uses panel data set of 300 UK companies listed during 2005-2017.
The results show that the positive relation between CSR and ME is more pronounced in companies where the level of women on the board is higher. However, women in TMT moderate this positive relationship.
Women in TMT may be less responsive to shareholders’ preference for reduced company CSR concerns, but a higher percentage of women on the board can mitigate this effect.
This study suggests the dynamic relationship between CSR and ME.
