Abstract
AbstractIn this article, we examine whether, and how, positive and negative corporate social responsibility events relate to specific demographic characteristics such as directors' age in Asian emerging economies. Using the upper echelon hypothetical perspective of Hambrick and Mason (1984) and based on evidence gathered on 21,647 directors from Malaysia, Indonesia, Thailand, India, and the Philippines, we find that the demographic characteristics of top management team (TMT), particularly directors' age, has a significant relationship with corporate social responsibilities. Demographic characteristics of directors are an important way to measure individual cognitive bases; cognitive bases in turn combine to create certain team abilities and tendencies, resulting in patterns in board decision outcomes.
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