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Social Sustainability on Corporate Boards: The Effects of Female Family Members on R&D

Author

Listed:
  • Ana Beatriz Hernández-Lara

    (Business Management Department, Universitat Rovira i Virgili, 43003 Tarragona, Spain)

  • Juan Pablo Gonzales-Bustos

    (Department of Private, Procedural and Financial Law, Universitat Rovira i Virgili, 43003 Tarragona, Spain)

  • Amado Alarcón-Alarcón

    (Business Management Department, Universitat Rovira i Virgili, 43003 Tarragona, Spain)

Abstract

There is growing institutional and social pressure for greater balance, parity, and equality at the highest levels of corporations. This is coupled with an increasing interest in analysing the effects of gender diversity on corporate boards. However, companies may only reap the benefits of gender diversity by achieving better qualified and more independent boards. This study aims to contribute to the open debate on the effects of board gender diversity on R&D, by taking into account the independence of female directors. Panel regression analyses were performed with data for 67 Spanish-listed companies during the 2003–2019 period. Our results confirm the positive effects of gender diversity on R&D. However, this positive influence is lower if female directors have family links with male members on the board. These findings have policy implications, regarding the need to increase gender equality in corporate boards for social and sustainability purposes, while the benefits are conditioned by the independence of female directors. The value of this research rests on the study of the effects, beyond the mere analysis of financial performance of the gender diversity of boards.

Suggested Citation

  • Ana Beatriz Hernández-Lara & Juan Pablo Gonzales-Bustos & Amado Alarcón-Alarcón, 2021. "Social Sustainability on Corporate Boards: The Effects of Female Family Members on R&D," Sustainability, MDPI, vol. 13(4), pages 1-13, February.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:4:p:1982-:d:498090
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    Cited by:

    1. Daniel Sungyeon Kim & Hong Kee Sul, 2021. "Diversity Matters: A Study on the Relationship between Board Career Diversity and Firm Performance," Sustainability, MDPI, vol. 13(17), pages 1-24, August.
    2. Angels Niñerola & Ana-Beatriz Hernández-Lara & María-Victoria Sánchez-Rebull, 2022. "Top Management Team Diversity and International Expansion: Spanish Companies in China," SAGE Open, , vol. 12(1), pages 21582440211, January.
    3. Patricia Elgoibar & Elio Shijaku, 2022. "Bringing the Social Back into Sustainability: Why Integrative Negotiation Matters," Sustainability, MDPI, vol. 14(11), pages 1-12, May.
    4. Natalia Restrepo & Alfonso Unceta & Xabier Barandiaran, 2021. "Gender Diversity in Research and Innovation Projects: The Proportion of Women in the Context of Higher Education," Sustainability, MDPI, vol. 13(9), pages 1-21, May.
    5. Raquel Ferreras-Garcia & Jordi Sales-Zaguirre & Enric Serradell-López, 2021. "Sustainable Innovation in Higher Education: The Impact of Gender on Innovation Competences," Sustainability, MDPI, vol. 13(9), pages 1-13, April.
    6. Xin Lin & Lina Yu & Jinhong Zhang & Suxu Lin & Qiming Zhong, 2022. "Board Gender Diversity and Corporate Green Innovation: Evidence from China," Sustainability, MDPI, vol. 14(22), pages 1-24, November.
    7. Anna Odrowaz-Coates, 2021. "Definitions of Sustainability in the Context of Gender," Sustainability, MDPI, vol. 13(12), pages 1-12, June.
    8. Hideaki Sakawa & Naoki Watanabel, 2021. "Family Control and Corporate Innovation in Stakeholder-Oriented Corporate Governance," Sustainability, MDPI, vol. 13(9), pages 1-13, April.

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