It´s the economy, stupid! : A quantitative study on the influence of diversity and economic resources on CSR in Swedish large cap listed firms

Background: As Corporate Social Responsibility (CSR) continues to rise in significance,firms are now expected to play a more beneficial role in society and a fundamental aspect of CSR is firms' responsibility to act sustainably. This is especially relevant as the worry regarding climate change has grown and the rise in temperatures is a result of carbon emissions. Prior literature has investigated board gender diversity as an influential factor to CSR performance. The economy has also been identified as a key factor in enabling or limiting a firm's ability to invest in CSR activities. Purpose: The aim of this study is to investigate whether board gender diversity and firm economy influence firms' CO2e emissions intensity. Additionally, this thesis study aims to contribute to the literature by exploring the relationship through observable CSR values and in a Swedish context. Method: This thesis study uses a positivistic approach using a quantitative method to investigate the relationship between female board directors, a firm's economy and carbon emissions intensity. The data was collected through annual reports, financial reports and sustainability reports. It was analysed using a Pearson Correlation Matrix and a Linear Regression Model. Conclusion: The findings show no statistically significant relationship between a higher percentage of female board members and CO2e emissions intensity, regardless of critical mass. However, a significant relationship between emissions and economic resources (profitability and leverage) was found, suggesting economy as a driving factor to CSR.