Using agency theory, this study empirically examined the relationship between board composition and corporate philanthropy. Generally, the ratio of insiders to outsiders, the percentage of insider stock ownership, and the proportion of female and minority board members were found to be positively and significantly associated with firms' charitable contributions.
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Jia Wang received his Ph.D. from the University of Tennessee, Knoxville. He is an associate professor of management at California State University at Fresno. His current research interests include corporate governance and corporate social performance.
Betty S. Coffey is an assistant professor of management at Appalachian State University. Her research interests are in the area of corporate social performance and functional level strategic management.
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Wang, J., Coffey, B.S. Board composition and corporate philanthropy. J Bus Ethics 11, 771–778 (1992). https://doi.org/10.1007/BF00872309
- Economic Growth
- Board Member
- Agency Theory
- Corporate Philanthropy
- Charitable Contribution