Drivers and Value-pertinence of CSR in Africa: The Case of African Logistics Sector

 Following the limited literature on CSR relevancy in the logistics sector in Africa, this study is conducted to explore the relevance of CSR performance in the logistics sector, focusing on the firm's board characteristics and ownership structure. The purpose of the study is achieved by measuring CSR with composite ESG (Environmental, Social and Governance) score and other three sub-dimensions from the period of 2011-2018. The study used fixed-effect regression analysis and OLS regression to test the hypotheses and robustness. Some of the results fall in line with the hypotheses; therefore, they are accepted, the contradictory ones are rejected. Based on the results, conclusions are drawn, and recommendations are made on how logistics firms in Africa could structure their board rooms to benefit CSR, thus increasing its competitiveness and value. According to the findings, board gender diversity is positively related to overall corporate social responsibility and governance performance. Firms with sustainability committees have higher CSR performance than those that do not. Firms with diffused ownership structures show more outstanding performance in the Social Pillar of CSR. The analysis result showed a limited relationship between board independence and governance performance. There was a surprising result as CSR performance negatively correlated with the firm's value. The results stipulate that the percentage of women's inclusion in the company's board of directors and corporate social responsibility committees is essential in achieving CSR goals. However, the negative relationship between board characteristics and the Environmental Pillar of CSR performance is quite surprising and raises various questions that need further research. The research presents significant contributions in the academic, business and policy fields. The academy domain challenges the conventional way of conducting CSR and firm value analysis. The business domain provides an overview of how a firm should structure its board to achieve a higher CSR score that transcends its value. Finally, in the policy domain, recommendations are made to the regulatory institutions of the logistics sector in Africa to enforce operational environmental standards.