WOMEN ON BOARD AND CORPORATE SOCIAL RESPONSIBILITY (CSR) SPENDING ON EDUCATION AND INFORMATION COMMUNICATION TECHNOLOGIES (ICT)
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In developing economies, there are still largely unaddressed gaps on the quality of education and
information technology alignment compared to the rest of the world. The authenticity of corporate
responsibilities to social and economic challenges were more evident due to the Coronavirus
recrudescent. The study seeks to assess whether women representation on board is pivotal to
corporate social responsibility spending on education and Information Technology prior covid-19. Data
on listed financial firms over the period of 2016-2019 was explored. We find significant and positive
evidence that board with more than one woman are involved in educational CSR activities than board
with no woman. Also, female representation on board has more effects when they are at least three.
The effect of women on board is negative and significant when it comes to participation in CSR
activities on ICT. Women to directors’ ratio is one to four in a best-case scenario. The representation
of women as CEOs is still not balanced. Also, having a female as the CEO do not significantly
contribute to CSR spending on education and ICT. Board size is positively and significant to CSR
spending on education and ICT. We conclude that greater numeric presence of women on board and
not just a scanty representation is fundamental to CSR spending on education.
Keywords
H Social Sciences (General)