||Does board of directors affect corporate social responsibility disclosure: evidence from UK
||Graduate Institute of Finance
UK commercial banks
The aim of this thesis is to understand the potential effects of board of directors on CSR disclosure. I collect the data including corporate governance characteristics and financial indicators for a sample of UK commercial banks. The dependent variable, disclosure in annual reports of UK commercial banks, is measured by an index score and number of words. Using OLS and Tobit regressions, I find evidence that board independence, board size, CEO duality and the frequency of board meetings are positively related to CSR disclosure.
In order to further check whether firm size has a substantial impact on CSR disclosure, I divide the sample into two groups. One group has small firm size, and the other has large firm size. The result still shows that the board characteristics have a significantly positive relationship with CSR disclosure. Overall, these effects are more pronounced for small firms.
LIST OF TABLE VI
Chapter 1 Introduction 1
Chapter2 Literatures Reviews&Hypothesis Development 3
2.1 Corporate governance and CSR disclosure 3
2.2 Hypothesis Development 4
2.2.1 Board Independence 5
2.2.2 Board Size 6
2.2.3 CEO Duality 6
2.2.4 Frequency of Board Meeting 7
Chapter 3 Data and Methodology 8
3.1 Data Collection 8
3.2 Measurement of variable 8
3.2.1 Measuring CSR Disclosure 8
3.2.2 Corporate social disclosure index 9
3.2.3 Corporate social disclosure length 10
3.3 Independent variable 10
Chapter 4 Empirical Results 13
4.1 Descriptive Statistics for CSR Disclosure 13
4.2 Descriptive Statistics for Independent Variables 13
4.3 OLS Regression Analysis 15
4.4 Tobit Regression Analysis 16
4.5 Additional Analysis 17
Chapter 5 Conclusion 19
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