Women Directors and Corporate Social Performance Around the World

We examine the relationship between women directors and corporate social performance (CSP) by considering the contingency effects of firms’ home country informal institutions. Based on 14,182 observations for 2,578 firms across 32 countries, our multilevel analysis shows that the influence of women directors on CSP is positive, and significantly moderated by the four GLOBE cultural dimensions of gender egalitarianism, in-group collectivism, assertiveness, and humane orientation. These findings contribute to the debate about the role of women directors in the boardroom with regards to CSP and illustrate the relevance of the institution-based view for understanding cross-country variations in women directors’ influence.