Board composition and corporate philanthropy

Journal of Business Ethics 11 (10):771 - 778 (1992)

Using agency theory, this study empirically examined the relationship between board composition and corporate philanthropy. Generally, the ratio of insiders to outsiders, the percentage of insider stock ownership, and the proportion of female and minority board members were found to be positively and significantly associated with firms'' charitable contributions.
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DOI 10.1007/BF00872309
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