DOI: 10.24818/jamis.2025.01006
Vol. 24, No. 1, pp. 173-202, 2025
© 2025. This work is openly licensed via CC BY 4.0.
Author(s): Maali Kachouri1,a and Yosra bida Youssefa
a ISFFS, Univeristy of Sousse, Tunisa
1 Corresponding author: Maali Kachouri, Higher Institute of Finance and Taxation of Sousse, Sousse University, Tunisia, Tel: +216 26 26 87 13, email: maalikachouri2626@gmail.com
Keywords: corporate social responsibility, financial distress, gender diversity, female directors
JEL codes: M14
Abstract
Research Question: This study provides a valuable contribution by exploring the moderating effect of gender diversity on the relationship between corporate social responsibility and financial distress.
Design/Methodology/Approach: The study is based on a sample consisting of 488 European firms over the 2010–2022 period. This paper is motivated by moderation model that specify the interaction between corporate social responsibility, financial distress, and gender diversity.
Findings: Our results show that a high level of corporate social responsibility is negatively associated with financial distress in firms with a higher percentage of gender diversity.
Practical implications: The findings of this study may interest academic researchers, investors, and regulators. Academic researchers will find value in exploring the dynamic relationship between corporate social responsibility (CSR), financial distress, and gender diversity. For investors, our results indicate that the presence of female directors on the board is associated with increased financial distress. For regulators, our findings suggest that policymakers worldwide should emphasize the importance of female roles in enhancing firms’ engagement in corporate social responsibility reporting.
Originality/value: This paper contributes to the existing literature by examining the moderating effect of gender diversity on the relationship between corporate social responsibility and financial distress within the European context.
Full paper at: http://online-cig.ase.ro/jcig/art/24_1_6.pdf
