Efficiency of corporate boards and corporate social responsibility performance: The moderating role of CEO financial knowledge background

Corporate social responsibility and related disclosures is an important factor that leads to the continuity of the company. Because companies are connected to the community, the community enables the company to survive in the long run, and the community benefits from the company's activity and behavior. The expansion of corporate responsibility implies that corporate responsibility has gone beyond what it used to be - providing money to shareholders. However, senior management, especially the CEO, is expected to perform his duties impartially. But the amount of experience and type of knowledge they have can have an impact on company strategy. Therefore, the purpose of this study is to investigate the effect of efficiency of corporate boards on social responsibility performance of listed companies in Tehran Stock Exchange between 2015 and 2019. Multivariate linear regression and combined data were used to test the hypothesis. The results of the first hypothesis test showed that Efficiency of corporate boards had a significant relationship with corporate social responsibility performance. The more efficient the boards of directors are, the more companies are doing better in the same direction of social responsibility. Therefore, it is suggested that firms select high efficiency of corporate boards for better social responsibility performance. The second hypothesis results show that CEO's financial background moderates the relationship between efficiency of corporate boards and corporate social responsibility performance. Do not neglect to have executives with a financial literacy background for utility reporting.