Harjoto, Laksmana, and Lee (2014)
Harjoto, Maretno, Indrarini Laksmana, and Robert Lee. “Board Diversity and Corporate Social Responsibility.” Journal of Business Ethics, August 22, 2014.
From the authors' abstract: "This study examines the impact of board diversity on firms’ corporate social responsibility (CSR) performance. Using seven different measures of board diversity across 1,489 U.S. firms from 1999 to 2011, the study finds that board diversity is positively associated with CSR performance. Board diversity increases CSR strengths and reduces CSR concerns, supporting the stakeholder theory and consistent with the view that board diversity enhances firms’ ability to satisfy the needs of their broader groups of stakeholders..."