Financial performance under board gender diversity: The mediating effect of corporate social practices

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Abstract
This paper aims to examine whether the corporate social practices (CSP) affect the board gender diversity–financial performance relationship. Taking a sample of French firms listed in the SBF 120 index during 2005–2019 period, we used the mediation effect steps analysis to test the mediation effect of corporate social responsibility (CSR) versus corporate social irresponsibility (CSI) on the relationship between board gender diversity and the firm's performance. First, our findings show that board gender diversity has a stronger impact on CSI than CSR. Second, we confirm that CSP exert an asymmetric effect on financial performance in favour of CSI. Finally, we show that CSI plays a mediating role between board gender diversity and financial performance.

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