Board gender diversity and corporate social responsibility: evidence from India

This paper investigates the relationship between gender diversity on corporate boards and corporate social responsibility spending. Gender diverse boards positively impact CSR spending as measured by CSR ratio. India’s gender quota policy on corporate boards and corporate social responsibility legislation provides a unique setting to study this question. This study examines a sample of 738 Indian firms listed on the national stock exchange spanning the period 2013–2019. First, the study reveals that the presence of women directors increases the CSR spending in Indian firms. In addition, the results show that the presence of women directors in loss-making firms also has a positive impact on CSR spending. This article contributes to the literature on gender diversity on corporate boards in emerging markets.