BOARD GENDER DIVERSITY AND CSR SPENDING ON GENDER EQUALITY AND WOMEN EMPOWERMENT: DO EMPOWERED WOMEN WORK FOR WOMEN EMPOWERMENT?

Past few decades have seen an increase in academic and research interest in the area of gender diversity and its impact on a firm's performance.Research has shown that gender diversity on board leads to better financial performance, gives competitive edge , improves corporate governance and promotes CSR activities of the concern.This paper aims at analyzing whether presence of women on board at various levels in management leads to improved CSR spending in general and especially on gender equality and women empowerment.It has been determined, using data gathered from the top 100 firms listed on the National Stock Exchange, that having women on the board has a favourable and substantial influence on the company's CSR expenditure However, no significant impact of gender diversity was found on CSR activities with gender equality objectives.The study puts forward the case for incorporating more women into corporate boards and that too in leading roles so that women can play significant role in strategic decision making.The research has implications for corporate managers, shareholders, policy makers and regulators by providing a view on how gender equality in boards can lead to empowerment of women in society at large.