Purpose

This study aims to examine the impact of independent directors' ownership on corporate social responsibility (CSR) performance. In line with the stakeholder-agency paradigm's prediction, the authors propose that higher independent directors' ownership is associated with higher CSR performance. By drawing on the attention-based view, the authors further examine firm-level conditions that impact the situated attention of independent directors holding high equity ownership as they are active agents.

Design/methodology/approach

The authors collected data covering the years 2009–2013 for firms listed in the S&P 500 index. The authors tested the hypotheses using firm fixed-effects models.

Findings

The results show that higher independent directors' ownership is associated with higher CSR performance. Prior firm performance and available slack resources are found to have diverse impacts on the association between independent directors holding high equity ownership and CSR performance.

Originality/value

This study highlights the importance of examining the performance-based incentives of independent directors on firms' CSR performance. This study also provides a better understanding of factors impacting independent directors' situated attention as boundary conditions.

中文翻译：

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独立董事持股与企业社会责任绩效：董事关注度影响因素的调节作用

目的

本研究旨在探讨独立董事所有权对企业社会责任（CSR）绩效的影响。根据利益相关者-机构范式的预测，作者提出较高的独立董事所有权与较高的企业社会责任绩效相关。通过利用基于注意力的观点，作者进一步研究了影响持有高股权的独立董事作为积极代理人的情境注意力的公司层面条件。

设计/方法论/途径

作者收集了 2009 年至 2013 年标准普尔 500 指数上市公司的数据。作者使用固定效应模型检验了这些假设。

发现

结果表明，独立董事持股比例越高，企业社会责任绩效越高。研究发现，先前的公司绩效和可用的闲置资源对持有高股权的独立董事与企业社会责任绩效之间的关联有不同的影响。

原创性/价值

本研究强调了研究独立董事基于绩效的激励对公司企业社会责任绩效的重要性。这项研究还提供了对影响独立董事的边界条件注意力的因素的更好理解。