1 University of Cape Coast (UCC), College of Distance Education (CoDE), Unit of Business Programmes, Cape Coast, Ghana
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This inquiry examined the moderating influence of board size, board independence, and board gender diversity on the association between corporate social responsibility (CSR) and firm performance (FP) in Ghana. It utilized data from audited financial statements of all 36 firms listed on the Ghana Stock Exchange, spanning 2010–2020. The study espoused system-GMM for the empirical estimation. Findings show that CSR demonstrated significantly positive relationship with FP, consistent with the stakeholder theory, which is aligned with Carroll’s four-factor-pyramid theory but inconsistent with the agency cost theory. Again, findings depict that all three board structure elements moderated the relationship between CSR and FP.
Board size, board independence, board gender diversity, corporate social responsibility, firm performance
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