CSR and Board Gender Diversity Impact on the Corporate Performance

This paper explores the association between Corporate Social Responsibility (CSR) and firm performance, emphasizing the moderating role of a female sustainability committee. The increasing importance of CSR in enhancing firm value and investor trust is well-recognized; however, the influence of female-led committees on these dynamics remains less explored. Drawing on a comprehensive review of 123 papers, our study extends previous research by examining how board gender diversity can enhance firm performance through more effective CSR implementation. The findings reveal that while CSR acts as a form of “insurance-like” protection that enhances firm reputation, it also presents challenges such as increased operational disclosures that may negatively impact performance. Significantly, the presence of a female sustainability committee correlates positively with firm performance, suggesting that their unique leadership qualities and decision-making approaches can amplify the benefits of CSR initiatives. This research contributes to the literature by highlighting the crucial role of female sustainability committees in strengthening the CSR-performance linkage and filling the gap in understanding how these committees can better make CSR decisions, advocating for more inclusive corporate governance structures.