I believe this paper can help you: http://link.springer.com/article/10.1007%2Fs10551-011-1052-1

Regards, Farley S. Nobre

The firm that operate in a high competition market should minimize its costs which envelope the corporate governance mechanisms costs, thus, the firm will try to keep just the mechanisms which imposed by the government law.

To substitute the other mechanisms, the firm will depend on its social performance through the respect of its economic, law, ethic and philanthropic responsibility.

The respect of the firm social responsibility may be reached through the respect of the firm stakeholders’ rights, which is considered as an incentive for them to optimize the firm financial performance.

Value of CSV is the best and precise indicator for measuring the impact of Corporate Governance over CSR, I believe. If you would like to obtain a better understanding of the concept of CSV, this links would be of great help - https://hbr.org/2011/01/the-big-idea-creating-shared-value# All the best!

This article could help you: 

Integrating Sustainability into Corporate Governance: An Empirical Study on Board Diversity Corporate Social Responsibility and Environmental management. 

Idoya Ferrero-Ferrero*, María Ángeles Fernández-Izquierdo andMaría Jesús Muñoz-Torres

Article first published online: 10 SEP 2013

DOI: 10.1002/csr.1333 http://onlinelibrary.wiley.com/doi/10.1002/csr.1333/abstract 

You may want to check my published papers, a couple of which talk about the effect of corporate governance on bank performance, independent and control variables of which may be applicable to your study.

Hi! You can take disclosure, gender diversity in Board and IT activities of a firm as indicators of governance over CSR......! 

Common corporate governance indicators are board of directors i..e separation CEO and Chairman, Audit Committee, Board diversity. There are many more variables you can adopted to measure corporate governance.

Farley Nobre has pointed to a very good article. It all depends on what you want to measure and you need to develop the indicators yourself based on what you are studying. For example CG components are typically board independence, board effectiveness, duality etc while CSR components can be the community,environment, diversity, employees or even green products. You can then apply a regression or correlation to determine causality of diversity by board independence etc. and explain the coefficients or the correlations to indicate how CG impacts CSR at different significance levels.

You want to measure the impact of corporate governance over CSR. Corporate governance is construct of various indicators. Likewise, CSR is also a construct of various indicators. First, you have to select different indicators of CSR, then select different indicators of corporate governance. CSR will be the dependent variable and Corporate governance will be the independent variables for your study. You can also measure the CSR index which is used as dependent variable and then use different indicators of corporate governance as independent variable for your model to establish the effect of corporate governance on CSR.

There is no universal indicator for CG. As stated by Brown (2011), many measures have been employed to test the effect of CG on financial reporting measures (e.g. CSR). So, he recommends to use composite measure for CG effect instead of using individual component because CG indicators are substitution or complement. Thus, I recommended you to look to the literature in your setting(s) concerning CG and conclude which individual CG components are effective to be used in building your composite measure. Alternatively, you can use the common components of CG and use Factor Analysis to build the indicator for CG. For your information, there are some indicators or indices that are prepared by prior CG literature (e.g. G-index). Although they have been criticized, these indices can be used.

Saeed, I agree with you and the resource you have recommended is quite powerful as it captures some of the issues that  are suspected to cause errors in some  findings. And the publication is easily available on line at no charge from Wiley.

Philip Brown, Wendy Beekes, and Peter Verhoeven. Corporate governance, accounting and finance: A review. Accounting and Finance 51 (2011) 96–172

http://onlinelibrary.wiley.com/doi/10.1111/j.1467-629X.2010.00385.x/pdf

Market value, I think, is the objective of all corporates. That is to say, the impact of governance over CSR will reflect in the change of market value. However, above all you must understand what the contents included in CSR, and the mechanism of governance impacting on CSR, then you will find the answers.

Hi Catalina. If you still exploring on the indicators of effective CG in the CSR perspective, I would suggest you to look into one of the most important element of CG which is TRANSPARENCY. It can be measure by several items such as reliability of information sharing; information verification; effective means of communication; frequency of information dissemination; information target and some others.

Hii Noor, Do you know of a paper where some of the matters you raise are discussed.It might also be interesting to see how endogeneity is addressed in these relationships.

The basic problems in this space are definitions and metrics.  There are three articles that will provide an excellent, broad foundation.

The Journal of Bus Ethics is publishing "Defining CSR: Problems and Solutions" that I have authored and posted to researchgate.  It defines CSR not as a firm initiative, but as international regulation that addresses business practices in terms of ethics, fairness, green and stakeholders.

Add to that the following   Jo,   Hoje and Maretno A. Harjoto “The Causal Effect of Corporate Governance on Corporate Social Responsibility” Journal of Business Ethics March 2012, Volume 106, Issue 1, pp 53-72

Finish by bringing in Erick's excellent recommendation of the Brown article Philip Brown, Wendy Beekes, and Peter Verhoeven. Corporate governance, accounting and finance: A review. Accounting and Finance 51 (2011) 96–172

http://onlinelibrary.wiley.com/doi/10.1111/j.1467-629X.2010.00385.x/pdf

Good luck and keep us posted on your work!

http://onlinelibrary.wiley.com/doi/10.1111/j.1467-629X.2010.00385.x/pdf

link.springer.com/article/10.1007%2Fs10551-011-1052-1

Article Defining CSR: Problems and Solutions

We have done some work about this topic in the paper 

Ferrero, I.; Muñoz; M.J. y  Fernández M. A. (2013) Integrating Sustainability into Corporate Governance: An Empirical Study on Board Diversity. Corporate Social Responsibility and Environmental management.

http://onlinelibrary.wiley.com/doi/10.1002/csr.1333/epdf

Hi Maria, this is a good contribution!

There is one seminal article (exerimental research) about Corporate ability influences better consumer decisions than CSR

Dacin, Peter A; Brown, Tom J: The company and the product: Corporate associations and consumer product responses. Journal of Marketing; Jan 1997; 61, 1; pg. 68

The article is followed by a series of articles about the problem.  Maybe it would help?

Hi,

You can draw benefit from reading this paper:

H Jo and M A Harjoto ""The causal effect of corporate governance on corporate social responsability" Journal of Business Ethics, 2012,106, p 53 -72.

regards

Dear Catalina,

Hi

I have discussed this issue in length in one of my studies and has many references to relevant studies there.

Hope you find it useful.

Article Developing a Fuzzy Corporate Performance Rating System: A Pe...

Dear Catalina,

In case you are still pursuing this matter, I would follow the advice of Erick and test for relationship between a sample of corporate governance indicators (as independent variables) and CSR Investments undertaken by the entities under consideration (as dependent variables) using regression. In order to choose among an extensive number of corportae governance indicators I would like to refer you to the Corporate Governance Guidelines issued by or being at place at the stock exchange at which the entities are listed.

Paul

HI,

I advise you to read this paper:

H Jo, M A Harjoto, "The causal effect of corporate governance on corporate social responsability", Journal of Business Ethics, 2012, 106, p 53 -72.

Best regards

HI,

You may be interested by this paper:

The role of board gender and foreign ownership in the CSR performance of Chinese listed firmsOriginal Research Article

Journal Of Corporate Finance, February 2017, Pages 75-99

Paul B. McGuinness, João Paulo Vieito, Mingzhu Wang

Best regards.

HI,

here is another one:

Organizational attention to corporate social responsibility and corporate social performance: the moderating effects of corporate governance

Business Ethics: A European Review, October 2016, vol 25, issue 4 (pages 386–399)

Xiaoping Zhao, Shouming Chen and Chan Xiong

Best regards.

Hello everyone,

what indicator or index from the company financial information should I use to measure good corporate governance? 

The major indicator would be the ability to keep the CSR independent of Business Interests. Happens rarely though.

Dear Catalina,

https://ego-wise.blogspot.com/2018/11/dhan-laxmi-and-csr.html

I am not sure whether these excerpts from a preaching based on Arthashastra addresses your exact concern or not, but it surely could give you a perspective of Corporate Governance vis-à-vis Social Responsibility and it is always better to see the forest for the trees, I believe. All the best and way to go...!

I enclose a link to a free collections of corporate governance papers published in our journals since 2012 (more than 1300 papers in more than 50 thematical collections). I hope you will find it interesting to you in your research of CSR and CG. https://virtusinterpress.org/A-set-of-updated-thematic-paper-collections-from-Virtus-Interpress.html

I recommend that you have a look at the above website, stated by Alexander Kostyuk as regards the papers published in this regard.

Refer to the link below for

Key CSR performance indicators

https://www.sompo-hd.com/en/csr/materiality/kpi/

Thank you all!

As per the question, CSR is a dependent variable and the independent variables are CG. You can measure the construct of CSR using Factory Analysis and use CG variables in the regression model to measure the impact of CG on CSR. The CSR and CG variables could be found in the existing literature and you can also add one or more variables if you think they are suitable for you. For the measurement of CG variables, you can consult with my paper on corporate governance.

I think it has various indicators. We can use board, ownership, audit, progressive performance, and transparency.