How do independent directors view corporate social responsibility (CSR) during a stressful time? Evidence from the financial crisis

• Main Authors: Pandej Chintrakarn, Pornsit Jiraporn, Sirimon Treepongkaruna
• Other Authors: Sasin School of Management, Bangkok
• Format: Article
• Published: 2022
• Subjects: Economics, Econometrics and Finance
• Online Access: https://repository.li.mahidol.ac.th/handle/123456789/76884
• Institution: Mahidol University

We explore the effect of board independence on CSR investments during a stressful time, i.e. during the Great Recession. Our results show that independent directors exhibit an unfavorable view of CSR investments during the crisis. Stronger board independence leads to a significant reduction in CSR....