Purpose

The purpose of this study is to examine the effect of board gender diversity on corporate social performance (CSP) in Brazilian companies.

Design/methodology/approach

This research collected available information on the CSP, financial performance and governance of Brazilian companies for five years (2016–2020). The dependent variable of this study is CSP (workforce, human rights, community and respect for the product). The independent variable is gender diversity. The authors control financial performance, the presence of a social responsibility committee and the industry sector. The data were analyzed using the dynamic panel data system, which is the generalized method of moments (GMM) estimator.

Findings

This empirical investigation confirmed the hypothesis that the female presence on boards has a positive effect on the CSP of Brazilian companies. The findings of this study are consistent with previous studies. The authors' results suggest that women are more socially aware and exhibit more social corporate behavior.

Practical implications

Supplementing financial reports with nonfinancial information draws the attention of regulators and shareholders. Companies can also create human resources policies for appointing women to senior management positions and a succession plan that values the talent that women bring to companies.

Originality/value

A critical mass of women on the board can provide an effective balance, considering the diversity of backgrounds and experiences between men and women. Just one woman on the board can mean representation and resistance, but with a critical amount, female directors can have a voice and help formulate strategies aimed at CSP.

中文翻译：

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从零到英雄：性别多元化对巴西企业社会绩效的影响

目的

本研究的目的是探讨巴西公司董事会性别多元化对企业社会绩效 (CSP) 的影响。

设计/方法论/途径

这项研究收集了五年（2016-2020 年）巴西公司 CSP、财务绩效和治理的可用信息。本研究的因变量是 CSP（劳动力、人权、社区和对产品的尊重）。自变量是性别多样性。作者控制财务业绩、社会责任委员会和行业部门的存在。使用动态面板数据系统对数据进行分析，该系统是广义矩法（GMM）估计器。

发现

这项实证调查证实了这样的假设：董事会中女性的存在对巴西公司的 CSP 有积极影响。这项研究的结果与之前的研究一致。作者的研究结果表明，女性具有更强的社会意识，并表现出更多的社会企业行为。

实际影响

用非财务信息补充财务报告引起了监管机构和股东的关注。公司还可以制定任命女性担任高级管理职位的人力资源政策以及重视女性为公司带来的人才的继任计划。

原创性/价值

考虑到男性和女性之间背景和经验的多样性，董事会中足够数量的女性可以提供有效的平衡。董事会中只有一名女性就可能意味着代表性和阻力，但如果女性董事数量达到临界值，就可以发出声音并帮助制定针对 CSP 的战略。