Advances in Consumer Research
Issue:6 : 649-658
Original Article
Board Characteristics as Drivers of Corporate Social Responsibility: Evidence from the Energy Sector
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1
School of Management, Gautam Buddha University, Greater Noida, Uttar Pradesh, India; b School of Management
2
Gautam Buddha University, Greater Noida, Uttar Pradesh, India; c School of Management, Gautam Buddha University, Greater Noida, Uttar Pradesh, India
Abstract

This study explored the impact of board diversity on corporate social responsibility (CSR) performance in the Indian energy sector. The research examined how size of the board, gender diversity, duality of CEO on the board, and independence of board members influence firms’ CSR spending of organisation. Secondary data were collected from annual reports of companies and website of Ministry of Corporate Affairs of top ten energy sector companies for ten-year period. Panel data analysis and fixed effects regression models were employed to determine the relationship between board diversity attributes and CSR outcomes. The fixed-effects results indicate that board size, women directors, CEO duality, and non-executive directors do not have a statistically significant influence on CSR expenditure because all coefficients are insignificant. This study contributes to governance and sustainability literature by providing empirical evidence from a developing economy.

Keywords
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