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Co-Opted Directors and Corporate Social Responsibility

Aaron Afzali et al.

Journal of Accounting Auditing and Finance2025https://doi.org/10.1177/0148558x251368673article
AJG 3ABDC A
Weight
0.41

Abstract

This study examines the relationship between board co-option and corporate social responsibility (CSR) among U.S. firms. The results indicate that higher levels of board co-option are linked to weaker CSR performance, particularly in terms of environmental initiatives and diversity-related social programs. The negative association between board co-option and CSR is more pronounced in firms in which CEOs hold substantial power and short-term managerial compensation is prioritized and in industries characterized by higher information asymmetries. In contrast, independent, non-co-opted directors appointed before the incumbent CEO enhance engagement in CSR, highlighting their important role in fostering socially responsible corporate behavior.

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https://doi.org/https://doi.org/10.1177/0148558x251368673

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@article{aaron2025,
  title        = {{Co-Opted Directors and Corporate Social Responsibility}},
  author       = {Aaron Afzali et al.},
  journal      = {Journal of Accounting Auditing and Finance},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1177/0148558x251368673},
}

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Co-Opted Directors and Corporate Social Responsibility

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Evidence weight

0.41

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.25 × 0.4 = 0.10
M · momentum0.55 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.