(wl-3103)-Caste Diversity in Corporate Boards and Social Values

In this study, we examine how caste affiliation among board members impacts corporate social values. To measure board diversity, we calculated a Blau Index based on caste affiliation. Our findings reveal a positive relationship between caste-based board diversity and corporate social values. Specifically, boards with greater caste diversity demonstrate a positive effect on corporate scores related to human rights, corporate social responsibility, and philanthropy. Caste-diverse boards are likely to possess a deeper understanding of the needs of varied stakeholders, including underrepresented or lower-caste communities, thereby strengthening CSR and human rights initiatives. By reflecting a broader range of social identities, such boards may foster policies and practices that actively support human rights, social responsibility, and philanthropic endeavors. Our study provides a novel focus on the role of caste diversity in corporate board composition within Indian firms. The inclusive perspective brought by caste-diverse boards enriches CSR, philanthropy, and human rights commitments, promoting a more comprehensive approach to CSR.