Abstract
In our study, we investigate specific issues related to how family firms engage in corporate social responsibility activities. In addition, we make predictions about how family firm corporate social responsibility activity engagement is moderated by CEO duality and professional manager equity ownership. We find that a higher divergence between control and cash flow rights will attract family firms to engage in more corporate social responsibility activities. Moreover, two contingency variables, CEO duality and professional manager equity ownership, are found to have negative interaction effects on the relationship between the divergence between control and cash flow rights and corporate social responsibility activities. A longitudinal data set from 2008 to 2019 prove our predictions.
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