Building on resource orchestration theory (ROT), this study assesses the link between corporate social responsibility (CSR) and firm performance considering the influence of female director representation and ownership structure.
This study has employed secondary panel data on Bombay Stock Exchange (BSE) listed Indian firms. Fixed-effect models are applied to estimate our regression models. Additionally, the study employs models with robust standard errors to correct for heteroscedasticity.
The findings reveal that the performance effect of CSR is insignificant. However, the presence of female director representation positively moderates this relationship and, therefore, highlights the effectiveness of CSR in gender-diverse boards. Moreover, promoter ownership positively moderates the CSR–performance relationship, and thus, indicates promoters' long-term strategic interests in CSR initiatives.
Building on ROT, this research investigates the CSR–performance relationship dynamics, emphasizing the roles of female director representation and promoter ownership, particularly in the emerging market contexts. Moreover, it deepens our understanding of the CSR–performance relationship by utilizing secondary panel data from BSE listed Indian firms.
