The role of CSR committee characteristics on R&D investments |
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| Institution: | 1. Department of Economics, Management, Institutions (DEMI) - University of Naples “Federico II”, Monte S. Angelo University Campus, Napoli, Italy;2. Omnes Education Research Center, International University of Monaco, 14, rue Hubert Clerissi, 98000 Monaco, Principality of Monaco;1. School of Business, East China University of Science and Technology, China;2. Department of Business Studies, Uppsala University, Sweden;1. Queen’s Management School, Queen’s University Belfast, UK;2. Copenhagen Business School, Denmark;3. UQ Business School, The University of Queensland, Australia;1. Department of Accounting Information, National Taipei University of Business, No.321, Sec. 1, Jinan Rd., Zhongzheng District, Taipei City, 100, Taiwan, ROC;2. Department of Accounting, Chung Yuan Christian University, No. 200, Zhongbei Rd., Zhongli Dist., Taoyuan City, 320314, Taiwan, ROC;1. Department of Management and Business Administration, University, “G. D’Annunzio” of Chieti-Pescara, Viale Pindaro 42, 65127, Pescara, Italy;2. Department of Accounting, Finance and Economics, Lincoln International Business School, University of Lincoln, Brayford Pool, Lincoln, LN6 7TS, United Kingdom;1. Hong Kong Polytechnic University, College of Professional and Continuing Education, Hong Kong;2. Sheridan Institute of Higher Education, School of Business, Perth, Western Australia, Australia;3. Kwame Nkrumah University of Science and Technology, School of Business, Kumasi, Ghana;1. Rotman School of Management, University of Toronto, Toronto, ON, Canada;2. Institute for Management & Innovation, University of Toronto Mississauga, Mississauga, ON, Canada;3. Smith School of Business, Queen’s University, Kingston, ON, Canada;4. SUSTech Business School, Southern University of Science and Technology, Shenzhen, China |
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| Abstract: | We investigate the impact of corporate social responsibility (CSR) committees on research and development (R&D) investments. Using a unique sample of European listed companies, we offer three key results to the current academic and policy debate. First, we document that firms with a CSR committee exhibit lower levels of R&D investments. Second, we find that the CSR committee membership of either the CEO or chairman is associated with an increase in R&D investments. Finally, we provide evidence that firms whose CSR committees are chaired by a female director exhibit higher R&D investments. These results are of importance for academics, investors, and policy makers, since they shed light on the effect of CSR board committees on corporate outcomes, beyond their impact on social performance and/or sustainability disclosure. |
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| Keywords: | Corporate governance Corporate social responsibility CSR committee European listed companies R&D investments |
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