Responsible Corporate Governance: Towards a Stakeholder Board of Directors?

By Silvia Ayuso, Antonio Argandoña. 2009

220 citations recorded by the source corpus.

The central question posed in this paper will be how to organize board composition in order to ensure responsible corporate governance both from a CSR and a good governance perspective. Adopting a stakeholder approach to corporate governance, we analyze the arguments given by different theoretical approaches for linking specific board composition with financial performance and CSR, and discuss the empirical research conducted. Despite the inconclusive findings of empirical research, it can be argued that diverse stakeholders on the board will promote CSR activities of the firm, but at the same time will increase board capital (which ultimately may lead to a better financial performance). Finally, we propose a model for selecting board members based both on ethical and pragmatic arguments.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/64f69cf9c524a1a522e06f448a440c5d7e8090d2

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Strategy and Management

Citations in the corpus

Comprehensive Board Diversity and Quality of Corporate Social Responsibility Disclosure: Evidence from an Emerging Market (2017, background): “Furthermore, this diversity on the board is likely to inﬂuence the quality of information disclosure since more diverse boards of directors would be able to make decisions based on the evaluation of more alternatives compared to a more homogeneous board (Ayuso and Argandon˜a 2007).”
The Impact of Board Gender Diversity and Foreign Institutional Investors on the Corporate Social Responsibility (CSR) Engagement of Chinese Listed Companies (2019, background): “Furthermore, Ayuso and Argandoña [64] studied 946 companies on the Dow Jones Global Index Annual Review in 2004 from thirty-one countries where board diversity supports stakeholder engagement.”
The impact of board and audit committee characteristics on voluntary disclosure: A meta-analysis (2015, background): “Given the fact that, generally, audit committee and board members are considered as representative of shareholders’ interests (Ayuso & Argandona, 2007), they are more likely to be in line with investors’ needs and put more emphasis on financial and strategic information.”