Board gender diversity and corporate social responsibility assurance: The moderating effect of ownership concentration

Abstract This paper investigates (a) the relationship between board gender diversity (FDoB) and the assurance of corporate social responsibility (CSR) reports, (b) and examines the moderation effect of ownership concentration on the FDoB and CSR assurance relationship. Logistic regression analysis is used to estimate the coefficients of the variables. The result shows a positive relationship between FDoB and the assurance of CSR reports, and that, consistent with critical mass theory, the relationship is greater for firms with two or more women on boards. Further analysis, however, shows that ownership concentration has an adverse effect on the FDoB and CSR assurance nexus. Practically, the study provides stakeholders the impetus to pursue reforms that advance board gender diversity among firms to promote corporate governance and accountability. Theoretically, it contributes to the literature on board gender diversity. It has also advanced the relevance of critical mass theory in the context of gender diversity in the boardroom.