This study examines the levels of corporate social responsibility disclosure (CSRD) between foreign and local banks in Malaysia by engaging the reconciliations of the stakeholder theory and resource-based view. Additionally, independent directors, portrayed as unique internal resources, may affect the CSRD level. Using the panel data of 37 commercial banks retrieved over the period between 2010 and 2017, OLS and robust regressions revealed that the local banks disclosed more CSR information than their foreign banks' counterparts, and the increasing number of independent directors on the board produced lower CSRD. However, the interaction term offered new insight that the independent directors are acting as an effective resource for the foreign banks with a highly concentrated ownership environment. This gives a nuanced understanding of the proposed integrative theory to stimulate foreign banks' more social and environmental performances.

中文翻译：

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外资银行是否比当地银行更多地披露企业社会责任实践？新兴市场环境的经验证据

本研究通过协调利益相关者理论和基于资源的观点来检验马来西亚外国银行和本地银行之间的企业社会责任披露（CSRD）水平。此外，被描述为独特的内部资源的独立董事可能会影响 CSRD 的水平。使用 2010 年至 2017 年期间检索到的 37 家商业银行的面板数据，OLS 和稳健回归显示，本地银行披露的 CSR 信息多于外资银行，董事会中独立董事人数的增加导致 CSRD 较低. 然而，互动术语提供了新的见解，即独立董事在所有权高度集中的外资银行中充当了有效资源。