DOI: 10.5176/2251-1997_AF19.285
Authors: Phd Cand. Rizqa Anita
Abstract: This study uses the sample firms listed in Taiwan Stock Exchange and Taipei Stock Exchange from 2015 to 2018 to examine the relationship between corporate philanthropy and corporate performance with gender diversity as a moderating variable. Corporate philanthropy strategically contributes to corporate financial performance by building up firms’ reputation on corporate social responsibility. However, our result supports the agency theory where corporate philanthropy dilutes the potential of corporate financial performance and negatively affects corporate profitability. Gender diversity measured by the proportion of female directors on board buffers against the negative impact of corporate philanthropy on financial performance.
Keywords: corporate performance, corporate philanthropy, gender diversity.
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