How Does Family Firm Specific Top Management Team Diversity Affect CSR

摘要

This paper examines the relationship between top management team characteristics and Corporate Social Responsibility (CSR) performance of family businesses. Focusing on three main diversity characteristics of family businesses, namely generation in charge, number of family members on Top Management Team (TMT), and number of generations working together, study revealed significant findings. According to results, family firm specific diversity's effect on top management teams does not have significant impact on CSR performance. Furthermore, results indicate that while corporate governance related CSR issues are less prominent in family businesses, employee and environment related CSR issues are more outstanding.