Corporate social responsibility and sustainability committee inside the board

Abstract

This study examines whether the existence of a sustainability committee with independent directors facilitates the requirements of the Dow Jones Sustainability Index in order to include the company within the leading sustainable companies. Our research focuses on the firms of STOXX EUROPE 600 for the year 2015. The results evidence that the existence of a CSR committee, formed by independent directors with previous experience in socially responsible actions, orientates the board to lead the firm's inclusion in DJSI Europe. This study offers a tool for executives and investment managers of European multinational firms about the role played by boards to adopt CSR policies with the target to get the firm's presence in the main sustainability indexes.

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