Despite the growing importance of responsible behavior in the healthcare sector, research on corporate social responsibility (CSR) in association with board structure is scarce. Hence, the objective of this study is twofold: (1) to test whether a board structure is associated with firm financial and CSR performance and (2) whether the CSR committee and CEO duality moderates this association in the healthcare sector. Examining the moderation of CSR committee is important to understand whether CSR committee strengthens or weakens the link between female directors and CSR performance. Moreover, CEO duality's moderation will highlight whether powerful CEOs are a barrier for female directors' monitoring role. The data for the study was derived from the Thomson Reuters Eikon database for the years between 2011–2018. Overall, the results suggest that while female directors contribute to firm performance, CEOs with dual roles and larger boards harm firm performance. Further, independent directors have a limited contribution to CSR performance whereas they have no contribution to financial performance. Moderation analysis shows that CSR committees and female directors are not the replacement of one another; they are both needed and beneficial to the corporate structure. Although CEOs with a dual role impair the performance of a firm, they do not exert considerable influence on the other directors. As one of the important functions of a board is monitoring, these findings assist healthcare firms to configure their boards to improve their monitoring functions. The results are therefore helpful in terms of alleviating agency costs and in appeasing stakeholders.

中文翻译：

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董事会结构、财务绩效、企业社会责任绩效、企业社会责任委员会和 CEO 双重身份：理清医疗保健领域的联系

尽管负责任行为在医疗保健领域的重要性日益增加，但对与董事会结构相关的企业社会责任 (CSR) 的研究很少。因此，本研究的目的是双重的：（1）测试董事会结构是否与公司财务和企业社会责任绩效相关；（2）企业社会责任委员会和 CEO 双重身份是否在医疗保健行业缓和了这种关联。检查 CSR 委员会的适度性对于了解 CSR 委员会是加强还是削弱了女性董事与 CSR 绩效之间的联系很重要。此外，CEO双重身份的缓和将凸显强大的CEO是否是女性董事监督角色的障碍。该研究的数据来自汤森路透 Eikon 数据库 2011 年至 2018 年间的数据。总体，结果表明，虽然女性董事对公司业绩有贡献，但具有双重角色和更大董事会的 CEO 会损害公司业绩。此外，独立董事对企业社会责任绩效的贡献有限，而对财务绩效没有贡献。适度分析表明，企业社会责任委员会和女性董事并非相互替代；它们对公司结构既是必要的，也是有益的。尽管具有双重角色的 CEO 会损害公司的业绩，但他们不会对其他董事产生相当大的影响。由于董事会的重要职能之一是监控，因此这些发现有助于医疗保健公司配置董事会以改进其监控功能。因此，结果有助于减轻代理成本和安抚利益相关者。