CSR Board Committees and Value Relevance in Italian Listed Companies

In this study, we investigate whether the presence of CSR board committees af-fects the value relevance of Italian listed companies. Leveraging a sample of 413 firms (2,065 firm-year observations) listed on Italian stock exchange over the peri-od 2017-2021 and relying on value relevance methodology based on Ohlson mod-el, we provide novel contributions to the literature. We also find that the CSR board committee increases the value relevance of corporate information. We also find that the presence of CSR board committee positively moderates the relation-ships between EPS, BVPS as well as ESG and market price. All these results of-fer further insights on the ability of CSR governance characteristics to influence the value relevance of corporate information and suggest that investors show in-creasing interest in firms’ commitment toward CSR