Corporate governance and corporate social performance in Lebanese banking sector Online publication date: Tue, 04-Apr-2023
by Sibelle S. Freiha
EuroMed J. of Management (EMJM), Vol. 5, No. 2, 2023
Abstract: This paper seeks to answer the question tackling if there is any significant relationship between corporate governance attributes and corporate social performance by clarifying the concept of corporate governance drawing from the agency, the stewardship, and the stakeholder theories. Then, this paper investigates whether corporate social performance is a function of governance by examining the linkage between board composition, structure, diversity, and leadership with social performance. In order to explore such association, a quantitative method is used to analyse the different variables by choosing a sample composed of 32 firms operating in the Lebanese banking sector. The empirical evidence demonstrates that there is a positive relationship between board independence, gender diversity, and social performance. In contrast, a negative association is found between board size, CEO duality and social performance. This research aims to give practical implications and highlights the importance of having independent directors and female directors on board as well as the importance of engaging in corporate social performance.
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