Board Gender Diversity and CSR Performance in a Patriarchal Society: The Role of Female Leadership Coalitions in Thailand

ABSTRACT This paper investigates how board gender diversity relates to corporate social responsibility (CSR) performance in Thailand, where patriarchal and hierarchical cultural norms shape gender roles differently compared with Western economies. Drawing on theories from social psychology, we posit that Thailand's cultural norms weaken the positive relation between board gender diversity and CSR performance as well as the relation between female CEO leadership and CSR performance. Consistent with the predictions by Social Role Theory and Role Congruity Theory, the empirical results show that neither female board representation nor female CEO leadership alone is associated with CSR performance. In support of the Relational Identity Theory, moreover, a coalition of a female CEO and female directors is positively related to CSR performance. Robustness tests confirm that CSR performance positively relates to firm valuation. We conclude that a coalition of female leaders offers a powerful mechanism for advancing CSR practices in emerging markets where cultural norms constrain individual female leadership effectiveness.