Top management inside debt and corporate social responsibility? Evidence from the US

2020 ◽  
Vol 78 ◽  
pp. 98-115 ◽  
Author(s):  
Sabri Boubaker ◽  
Kaouther Chebbi ◽  
Jocelyn Grira
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Top Management ◽  
Inside Debt ◽  
The Us ◽  
Corporate Social

scholarly journals CSR COMPARISON BETWEEN FAMILY BUSINESSES AND NON-FAMILY BUSINESS

2018 ◽  
Vol 6 (1) ◽  
pp. 256-280 ◽  
Author(s):  
Ömer YAZICI ◽  
Douglas MCWILLIAMS ◽  
Seydahmet ERCAN
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Research Literature ◽  
Family Businesses ◽  
Family Influence ◽  
Top Management ◽  
The Family ◽  
The Us ◽  
Corporate Social ◽  
Conclusion Section

This paper is designed to explore whether family businesses outperform nonfamily businesses regarding Corporate Social Responsibility (CSR) performance. Upon comparing the CSR performances of 64 top family businesses in the US with CSR performances of the top nonfamily businesses in the US; the results have showed that nonfamily businesses outperform family businesses on CSR. Analysis of four out of five categories of CSR performance resulted in favor of nonfamily businesses and no statistical difference was found in one category. Hence, results show that family businesses are reluctant to corporate social responsibility concern. The result of this study may suggest that family businesses are self-interested; however, some research literature may advise otherwise.  Strong agency problems and having family influence in the top management team composition may be shown as the main reason behind this phenomenon. Also results show that among the family businesses, increased family member presence in the top management has a positive effect on CSR performance. For further analysis and future studies, recommendations are made in the conclusion section.

scholarly journals CSR COMPARISON BETWEEN FAMILY BUSINESSES AND NON-FAMILY BUSINESS

2018 ◽  
Vol 6 (1) ◽  
Author(s):  
Ömer YAZICI ◽  
Douglas MCWILLIAMS ◽  
Seydahmet ERCAN
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Research Literature ◽  
Family Businesses ◽  
Family Influence ◽  
Top Management ◽  
The Family ◽  
The Us ◽  
Corporate Social ◽  
Conclusion Section

This paper is designed to explore whether family businesses outperform nonfamily businesses regarding Corporate Social Responsibility (CSR) performance. Upon comparing the CSR performances of 64 top family businesses in the US with CSR performances of the top nonfamily businesses in the US; the results have showed that nonfamily businesses outperform family businesses on CSR. Analysis of four out of five categories of CSR performance resulted in favor of nonfamily businesses and no statistical difference was found in one category. Hence, results show that family businesses are reluctant to corporate social responsibility concern. The result of this study may suggest that family businesses are self-interested; however, some research literature may advise otherwise.  Strong agency problems and having family influence in the top management team composition may be shown as the main reason behind this phenomenon. Also results show that among the family businesses, increased family member presence in the top management has a positive effect on CSR performance. For further analysis and future studies, recommendations are made in the conclusion section.

Top management team heterogeneity, corporate social responsibility and firm risk: an emerging country perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammad Hassan Shakil ◽  
Nor Shaipah Abdul Wahab
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Top Management Team ◽  
Management Team ◽  
Top Management ◽  
Total Risk ◽  
Firm Risk ◽  
Content Type ◽  
Listed Firms ◽  
Corporate Social

Purpose This study aims to examine the effects of top management team (TMT) heterogeneity and corporate social responsibility (CSR) on the firm risk of Bursa Malaysia listed firms. Also, this study examines the moderating effect of CSR between TMT heterogeneity and firm risk. Design/methodology/approach This study uses panel regression models to test the hypotheses. The sample of this study is Bursa Malaysia non-financial listed firms from 2013 to 2017 with 3,055 observations. Findings This study finds significant effects of TMT age and tenure heterogeneities on total risk. Effects on idiosyncratic risk are evident only within age heterogeneity. Further, this study finds negative effects of CSR on total and idiosyncratic risks. CSR significantly moderates the relationship between total TMT heterogeneity and firm systematic risk. Practical implications This study reduces the literature gap by providing useful insights on the effects of CSR activities and TMT heterogeneity on firm risk. The findings can also provide hints to investors to assist them in assessing firm risk based on TMT heterogeneity and firms’ CSR. This study can also benefit shareholders in their attempts to mitigate the risk of their portfolio by investing in firms that are socially responsible as firms with high CSR suffer lower total and idiosyncratic risks. Originality/value Previous studies have emphasised on the influence of TMT characteristics and CSR on firm performance. However, studies that investigate the effects of TMT heterogeneity and CSR on firm risk are limited in the context of Malaysia.

Nonmarket Responses to Regulation: A Signaling Theory Approach

2020 ◽  
Vol 45 (6) ◽  
pp. 865-891
Author(s):  
Lee Warren Brown ◽  
Irene Goll ◽  
Abdul A. Rasheed ◽  
Wayne S. Crawford
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Signaling Theory ◽  
Political Activity ◽  
Theory Approach ◽  
Federal Regulations ◽  
Corporate Political Activity ◽  
The Us ◽  
Regulatory Intensity ◽  
Corporate Social

We examine how regulatory intensity and increases in regulation affect the nonmarket activities of firms. Using a signaling theory perspective, we seek to better understand how firms respond to regulation in terms of corporate social responsibility (CSR) and corporate political activity (CPA), the two main pillars of nonmarket activity. Examination of both CSR and CPA in concert rather than in isolation provides insights into whether they are complements or substitutes. We use textual analysis of the US Code of Federal Regulations to measure regulatory intensity and increases in regulation. Based on a sample of 331 S&P 500 firms for the period 1998–2014, our findings suggest that regulatory intensity leads to more nonmarket responses from firms. We also find support for nonlinear relationships between CSR and CPA.

Do Interaction and Education Moderate Top Management Team Age Heterogeneity and Corporate Social Responsibility?

2018 ◽  
Vol 46 (12) ◽  
pp. 2063-2079 ◽  
Author(s):  
Yawei Liu ◽  
M. Awais Gulzar ◽  
Zhaoguo Zhang ◽  
Qingxiang Yang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Top Management Team ◽  
Management Team ◽  
Top Management ◽  
Listed Firms ◽  
Upper Echelons Theory ◽  
Csr Strategy ◽  
Corporate Social ◽  
The Relationship

Using Chinese listed firms' data from 2008 to 2012, we explored, on the basis of upper echelons theory, whether and how top management team (TMT) age heterogeneity affects corporate social responsibility (CSR) and if TMT interaction and TMT education moderate this relationship. Results revealed an inverted U-shaped relationship between TMT age heterogeneity and CSR, in which TMT interaction played a moderating role; however, TMT education did not moderate the relationship. These results are helpful and significant for the understanding of CSR strategy, and for the improvement of human resource management.

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