Independent directors' background and CSR disclosure

Abstract

[EN] This paper extends research on how the background of independent directors mayaffect the way in which their companies disclose information about corporate socialresponsibility (CSR). Using a sample of 83 Spanish‐listed firms over the period2009–2014, the findings of a random effects probit model suggest that, in additionto board independence, having independent directors with political backgroundsand diverse education has a positive impact on their firm's probability of issuing aCSR report following the standards of the Global Reporting Initiative.