Board Independence and Corporate Social Responsibility:A Literature Review With a Focus on Country Effects

This study examines the relationship between board independence and corporate social responsibility (CSR) outcomes. Based onlegitimacy theory, we conducted a structured literature review of 167 archival studies to analyze the influence of board independ-ence on CSR performance and reporting. In light of the heterogeneous link between these variables, we included country effectsas contextual factors and separated country-specific studies in their Organization for Economic Cooperation and Development (OECD) membership and board structure. This is the first structured review that synthesizes board independence evidencespecifically through the lens of country effects, indicating that most of the included studies found a positive impact of boardindependence on CSR outcomes. However, while cross-country studies stressed inconclusive results, the positive connectionbetween board independence and CSR was restricted to regimes with a one-tier system. Moreover, while a positive link betweenboard independence and CSR reporting (“talk”) was not dependent on OECD status, board independence tended to increase CSR performance (“walk”) only in OECD countries.