Title Page
ABSTRACT
Contents
I. Introduction 8
II. LITERATURE REVIEW 11
1. Agency theory and resource dependence theory 11
2. Organizational slack and CSR 12
3. Agency theory, slack, and CSR 15
4. Stakeholders theory, resource dependence theory, slack, and CSR 17
5. Integrating organizational slack, CSR, and BOD 19
III. HYPOTHESES 22
1. Organizational slack and CSR 22
2. Independent directors 23
3. Foreign directors 26
IV. METHODS 30
1. Study sample and data 30
2. Statistical analysis 31
3. Variables 32
1) Dependent variable 32
2) Independent variable 33
3) Moderating variables 33
4) Control variables 34
V. RESULTS 36
VI. DISCUSSION 41
REFERENCES 44
국문초록 51
Table 1. Descriptive Statistics and Correlations 37
Table 2. Random effects estimates, 2008-2013 38
Figure 1. Moderating Effect of Independent Directors' Representation on Boards 40
Figure 2. Moderating Effect of Anglo-Saxon Directors' More Representation than non-Anglo-Saxon Directors on Boards 40