Abstract
This paper analyzes the relationship between female talent and corporate social performance (CSP). Using a sample of US firms from the COMPUSTAT database between 1991 and 2013, we investigate how state-level Paid Family Leave (PFL) laws affect firm CSP. We find that reducing barriers to female employment positively impacts firms' social performance, as measured by corporate social responsibility (CSR) scores. Our results show that firms headquartered in states with effective PFL laws have higher CSR strengths and lower CSR concerns. Additionally, the positive impact of PFL laws on CSP is more pronounced for firms included in the Working Mother Magazine's 100 Best Companies List. Our study provides important insights for policymakers and corporate leaders on the benefits of supporting female employment through PFL laws.
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