Do long-term institutional investors promote corporate social responsibility activities?

2019 ◽  
Vol 101 ◽  
pp. 256-269 ◽  
Author(s):  
Hyun-Dong Kim ◽  
Taeyeon Kim ◽  
Yura Kim ◽  
Kwangwoo Park
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Institutional Investors ◽  
Corporate Social

scholarly journals Executive Incentives Matter for Corporate Social Responsibility under Earnings Pressure and Institutional Investors Supervision

2020 ◽  
Vol 12 (6) ◽  
pp. 2492 ◽  
Author(s):  
Lili Ding ◽  
Zhongchao Zhao ◽  
Lei Wang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Institutional Investors ◽  
Short Term ◽  
Institutional Csr ◽  
Csr Strategy ◽  
Technical Csr ◽  
Corporate Social ◽  
The Impact

This paper theoretically explores the impact of the incentive preferences of executives (i.e., short-term incentives and long-term incentives) on corporate social responsibility (CSR) decisions (i.e., institutional CSR and technical CSR). Further, the paper presents the mechanism through which executives influence CSR activities by the pressures from financial analysts and institutional investors supervision. Using a large sample of China-listed firms over 2007–2017, we achieve some helpful empirical results. The executives with short-term incentives tend to implement technical CSR strategy, while those with long-term incentives tend to implement institutional CSR strategy. Executives with short-term incentives, compared with those with long-term incentives, show stronger inter-temporal tradeoffs behaviors in the earnings pressure context. Furthermore, dedicated institutional investors can effectively attenuate the hypocritical behaviors of executives, and the effectiveness of governance shows a positive relationship with investors’ horizon. Our findings enrich the understanding on the relationship between the executives and CSR decisions in the earnings pressure context and further helps to perfect the institutional design in China’s listed companies.

Do institutional investors have homogeneous influence on corporate social responsibility? Evidence from investor investment horizon

2019 ◽  
Vol 46 (3) ◽  
pp. 301-322 ◽  
Author(s):  
Yun Meng ◽  
Xiaoqiong Wang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Institutional Investors ◽  
Empirical Support ◽  
Investment Horizon ◽  
Short Term ◽  
Content Type ◽  
Corporate Social ◽  
Institutional Shareholders

Purpose The purpose of this paper is to investigate the relation between the investment horizon of institutional investors and corporate social responsibility (CSR). Design/methodology/approach Utilizing unique datasets on CSR and the investor horizon measures (Gaspar et al., 2005), the authors categorize institutional investors into long-term and short-term investors. This method captures the heterogeneity of investors. Findings The authors show that long-term institutional investors promote CSR engagement, while short-term investors discourage it. The authors further document that shareholders’ ownership horizon has implications on corporate decisions in the CSR framework. The presence of long (short)-term institutional investors is positively (negatively) associated with dividend payout, discourages (encourages) managerial misbehaviors and enhances (reduces) firm valuation, only for firms with high CSR performance. Research limitations/implications Different from previous studies that treat institutional investors homogeneously, this paper provides empirical support that investors are indeed different in influencing CSR. Originality/value Few prior studies address the question of whether active engagement by institutional shareholders on CSR issues differs by the types of institutional ownership. The study attempts to fill this gap by examining the effects of institutions’ investment horizon, one of the major ways to classify institutional shareholders, on the CSR performance of firms.

scholarly journals Time-Based Corporate-Social-Responsibility Evaluation Model Taking Chinese Listed Forestry Companies as an Example

2021 ◽  
Vol 13 (14) ◽  
pp. 7971
Author(s):  
Xinfei Li ◽  
Baodong Cheng ◽  
Heng Xu
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Evaluation Model ◽  
Rapid Development ◽  
Entropy Method ◽  
Static State ◽  
Different Types ◽  
Normative Constraints ◽  
Corporate Social

With the rapid development of the economy, corporate social responsibility (CSR) is receiving increasing attention from companies themselves, but also increasing attention from society as a whole. How to reasonably evaluate the performance of CSR is a current research hotspot. Existing corporate-social-responsibility evaluation methods mostly focus on the static evaluation of enterprises in the industry, and do not take the time factor into account, which cannot reflect the performance of long-term CSR. On this basis, this article proposes a time-based entropy method that can evaluate long-term changes in CSR. Studies have shown that the completion of CSR in a static state does not necessarily reflect the dynamic and increasing trend of CSR in the long term. Therefore, the assessment of CSR should consider both the static and dynamic aspects of a company. In addition, the research provides the focus of different types of forestry enterprises in fulfilling CSR in the long term, and provides a clearer information path for the standard identification and normative constraints of different types of forestry enterprises CSR.

CORPORATE SOCIAL RESPONSIBILITY UNDER CRISIS

2020 ◽  
Author(s):  
E. N. Tumilevich
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Current Crisis ◽  
Crisis Situation ◽  
Effective System ◽  
Business Structures ◽  
Corporate Social

The article analyzes the required changes in the implemented areas of corporate social responsibility in a crisis situation. The analysis of the translated behavior of business structures during the crisis is carried out. The author formulates directions for restructuring approaches to the implementation of corporate social responsibility in the current crisis. Conclusions are drawn on the importance of creating an effective system of corporate social responsibility in times of crisis affecting the long-term development of an organization

scholarly journals Valuations and Decisions of Investing in Corporate Social Responsibility: A Real Options Viewpoint

2018 ◽  
Vol 10 (10) ◽  
pp. 3532 ◽  
Author(s):  
Kuo-Jung Lee
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Real Options ◽  
Optimal Strategies ◽  
Optimal Timing ◽  
Valuation Model ◽  
Real Options Approach ◽  
Corporate Social ◽  
Options Value

Corporate social responsibility (CSR) implementation could raise corporate reputations and benefit long-term development. Studying the effects of CRS on corporate valuation is essential. However, studies on the valuation of CSR are limited, particularly studies involving a dynamic model for valuing CSR. This study applies a real options approach to derive the company valuation of CSR investments, CSR options value, and the optimal timing for implementing CSR. This study elucidates the value of CSR and the decision to invest in CSR. Specifically, the value of CSR options facilitates determining whether to invest in CSR, and the optimal threshold for implementing CSR indicates explicitly when to invest in CSR. In addition, numerical analyses and results are demonstrated to verify the established model. This is the first and novel attempt to consider the valuation model and optimal strategies of CSR investments using the methods of real options.

scholarly journals PERAN MODERASI PERCEIVED CORPORATE SOCIAL RESPONSIBILITY DALAM PENGARUH TRUST TERHADAP LOYALITAS DAN REPURCHASE INTENTION PADA AIR MINUM DALAM KEMASAN MEREK AQUA DI SURABAYA

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Christina Esti Susanti
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Customer Loyalty ◽  
Repurchase Intention ◽  
Marketing Managers ◽  
Corporate Social ◽  
Customer Trust ◽  
The Impact

In recent business competition, marketing managers try to satisfying consumers and building stable-long term relationship between company and consumer. The relationship needs consumer’s trust to company. That is why marketing managers are interested in knowing the impact of trust, loyalty and corporate social responsibility (CSR) toward customer retention (repurchase intention) in order to develop the long term profitability of the company. The long term relationship with consumers results in profitability and also impacts of survival and company development. In other word, trust influences toward loyalty and consumer retention. In the same moment, it is not surprising that academicians and practitioner effort to understand trust, customer loyalty, repurchase intention and CSR. This research examines firstly, influence of customer trust toward customer loyalty. Secondly, the research examines influence of customer loyalty toward repurchase intention. Thirdly, the research examines the role of perceived CSR as a moderating variable on the influence customer trust toward customer loyalty. The packaged-drinking water Aqua is taken as the research context because the Aqua company have donated 10 litter clean water in East Indonesia for each of one litter consumer buying. The result of the research shows that perceived CSR play a strong and positive role of influencing trust toward loyalty. Otherwise, trust influences strongly toward loyalty and loyalty influences strong enough toward repurchase intention. The result is expected to give managerial benefit for Aqua Company and also theoretical development in marketing related to the moderation role of perceived CSR in the influence of trust toward loyalty and repurchase intention.

scholarly journals Program Corporate Social Responsibility di Industri Hotel: Sebuah Keuntungan atau Kerugian untuk Hotel

2012 ◽  
Vol 3 (1) ◽  
pp. 502
Author(s):  
Maria Pia Adiati
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Activity ◽  
Public Image ◽  
Term Result ◽  
Short Term ◽  
Short Term Result ◽  
The Social ◽  
Corporate Social

A word of CSR which stands for Corporate Social Responsibility is now becoming popular and more often many companies insert the CSR activities into its company profile. CSR has another different names such as Social Activity or Sustainability Development. CSR program according to wikipedia ia an organization or company has a responsibility to its customer, employees, share holders, community and environment in every aspect involved in company operasional. In the management science, there is a level whereas it is called social responsibility or it is just social obligation. Many opinions argues that CSR program will reduce the profit of the respected company. But many opinions denies the previous argue by saying the CSR program is a long term program profit gain since the short term result is good public image. The good public image will lead the loyalti of customer to keep using the product or service from the hotel. The customer loyalti also affected by the customer’s opinion, if they involves in the social activities held by the hotel, they also participate in a social activity.

scholarly journals Three-Cluster Policy in the Implementation of Corporate Social Responsibility at InterContinental Bali Resort

2020 ◽  
Vol 2 (1) ◽  
pp. 11-21
Author(s):  
Putu Rian Arde Surya ◽  
◽  
I Ketut Budarma ◽  
I Gede Mudana ◽  
◽  
...  
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Local Policy ◽  
Cluster Policy ◽  
Analysis Techniques ◽  
Great Love ◽  
Corporate Social ◽  
Small Things ◽  
A Company

Purpose: This research is to analyze the three-cluster policy in international, national, and local policy on corporate social responsibility (CSR) implementation at InterContinental Bali Resort. Research methods: The research method used is descriptive qualitative with juridical-normative analysis techniques. Results and discussion: The CSR implementation is related to three-cluster regulation analysis, as follows: do small things with great love, embrace the joy of giving, give a little, safe a life!, green living!, and IHG earth week. The implementation of CSR has an impact on the sustainability of the company. Conclusion: A company in carrying out its activities are not only on more financial factors such as profits or dividends but be based on social and environmental responsibility for the present and long term.

scholarly journals Pengaruh Dimensi Pengungkapan Corporate Social Responsibility Terhadap Future Institutional Ownership

2016 ◽  
Vol 17 (1) ◽  
pp. 91
Author(s):  
Rizky Eriandani
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Institutional Investors ◽  
Positive Impact ◽  
Investment Decisions ◽  
Measurement Instrument ◽  
Institutional Ownership ◽  
Manufacturing Companies ◽  
Csr Disclosure ◽  
Corporate Social

<em>Corporate social responsibility practice becomes important subject in company`s activity, because it will affect the company's reputation. Besides, institutional investors likely prefer to invest in companies that have a social responsibility as it is considered to increase the legitimacy and future performance. This study aims to investigate the effect of CSR disclosure on institutional ownership. We use percentages ownership to measure institutional ownership. CSR measurement instrument used in this study adopted a previous research. The instrument comes from research Hackston and Milne, which was adjusted with Bapepam regulation in Indonesia. We also divided CSR disclosures in four sub-dimensions. The samples used in this research were 115 listed agriculture, mining, and manufacturing companies in indonesian Stock Exchange which studied during the years of 2010. Using SPSS 20, The analysis methods of this research used multiple regression analysis. Studies shows that not all dimensions of CSR disclosure effect on institutional ownership. Only product dimensions of CSR disclosures has a significant positive impact on institutional ownership. However, this paper fail to find any significant impact of another CSR dimensions. Thus, our study suggests that the dimensions of the product can affect investment decisions. In contrast, institutional investors have not focused on environment, employee relation, and community activities in investment decisions.</em>

Sign in / Sign up

Export Citation Format

Share Document