Corporate social responsibility and firm leverage: The impact of market competition

2019 ◽  
Vol 48 ◽  
pp. 496-510 ◽  
Author(s):  
Shahbaz Sheikh
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Market Competition ◽  
Firm Leverage ◽  
Corporate Social ◽  
The Impact

Corporate social responsibility and corporate payout policy: the impact of product market competition

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shahbaz Sheikh
Keyword(s):  
Corporate Social Responsibility ◽  
Firm Performance ◽  
Social Responsibility ◽  
Social Performance ◽  
Market Competition ◽  
Global Reporting Initiative ◽  
Product Markets ◽  
Content Type ◽  
Corporate Social ◽  
The Impact

PurposeThe purpose of this paper is to empirically investigate if and how firm performance in corporate social responsibility (CSR) is related to corporate payouts and how competition in product markets influences this relation.Design/methodology/approachLogit and Tobit regressions are used to estimate the relation between firm performance in CSR and corporate payouts.FindingsThe empirical results show that firm performance in CSR is positively related to the propensity and level of dividends, repurchases and total payouts (dividends plus repurchases). However, the positive relation between CSR performance and corporate payouts is significant only for firms that operate in low competition markets. In high competition markets, CSR performance does not seem to have any significant relation with corporate payouts.Research limitations/implicationsThis study uses MSCI social ratings data to measure net scores on CSR. There is no systematic conceptual reason for measuring social performance using MSCI social ratings. Future research should use other measures of social performance (e.g. Dow Jones Sustainability Index, Accountability Ratings and Global Reporting Initiative to estimate the relation between CSR and corporate payouts).Practical implicationsCSR firms are more likely to choose higher payouts when they operate in low competition markets.Originality/valueThis study contributes to the stream of research that evaluates the payout choices of CSR firms and competition in product markets. To the author's knowledge, this is the first study that documents the impact of market competition on the relation between firm performance in CSR and corporate payouts.

scholarly journals Research on the Relationship between Corporate Social Responsibility and Commercial Credit Financing-Empirical Analysis Based on Big Data of Shanghai and Shenzhen A-share Enterprises

2021 ◽  
Vol 251 ◽  
pp. 01045
Author(s):  
Feng Gege
Keyword(s):  
Big Data ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Market Competition ◽  
Negative Relationship ◽  
Credit Financing ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship ◽  
A Share

Based on the big data of Shanghai and Shenzhen stock exchanges A-share listed companies from 2009 to 2019, this paper uses fixed effect model to analyze the impact mechanism of corporate social responsibility on commercial credit financing. The results show that: there is a significant negative relationship between corporate social responsibility and commercial credit financing, and the degree of market competition positively adjusts the relationship between the two. Further research finds that corporate social responsibility will increase cash holdings and then affect commercial credit financing.

scholarly journals Green Policy, Corporate Social Responsibility and Environmental Protection Investments - Evidence from Chinese Listed Companies in Heavy Pollution Industries

2021 ◽  
Author(s):  
Jingyi Zhang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Market Competition ◽  
Listed Companies ◽  
Green Policy ◽  
Environmental Investment ◽  
Chinese Listed Companies ◽  
Heavy Pollution ◽  
Corporate Social ◽  
The Impact

Abstract Corporate environmental investment decision-making behavior is influenced by both the external factor of government green policy and the internal factor of corporate social responsibility. This paper empirically examines the effects of green policies and corporate social responsibility on corporate environmental investment using a fixed-effects panel data model with a sample of Chinese listed companies in the heavy pollution industry from 2013-2019 and further analyzes the possible moderating role played by market competition. The results show that: (1) Green policy and corporate environmental investment have an inverted “U-shaped” relationship, which indicates that there is a ”degree” limit to the impact of green policy on corporate environmental investment. (2) There is a U-shaped relationship between green investment and environmental governance green policy tools and corporate environmental investment, while infrastructure green tool and corporate environmental investment in an inverted U-shaped relationship (3) Corporate social responsibility and the scale of its environmental investment has a positive relationship, green policy and corporate social responsibility have a joint effect corporate environmental investment. (4) The higher the degree of market competition, the more significant the effect of green policy on corporate environmental investment.

scholarly journals Research on the impact of market competition, ownership structure and corporate social responsibility

2018 ◽  
Vol 1 (3) ◽  
Author(s):  
Li Huang ◽  
Chaoyan Hu
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Ownership Structure ◽  
Market Competition ◽  
Ownership Concentration ◽  
Equity Structure ◽  
Product Competition ◽  
Negative Balance ◽  
Corporate Social ◽  
The Impact

Abstract:This article takes companies listed from 2014 to 2016 as research objects, relies on principal-agent theory, stakeholder theories, and reputation theories, and examines the ownership structure, market competition, and corporate social responsibility(CSR) using a multiple regression approach based on a hybrid ownership perspective. At the same time, the relationship between market competition and equity structure was studied. Research shows that product competition degree and CSR are in an inverted “U” relationship; ownership concentration is positively related to CSR; equity balance and CSR are negative. When related to market competition variables, the mixed-owned companies listed degree of ownership concentration is still positively related to CSR,and the linear relationship of negative balance of ownership balance becomes an inverted “U”shaped curve relationship.The market Competition has improved the restraint of CSR by the degree of ownership balance.

scholarly journals Does Core Competence Affect Corporate Social Responsibility?

2021 ◽  
Vol 13 (4) ◽  
pp. 132-150
Author(s):  
Changling Sun ◽  
Stanislav Skapa ◽  
Jinzhao Liu ◽  
Jakub Horak ◽  
Yaning Yang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Core Competence ◽  
Market Competition ◽  
Economic Consequences ◽  
Practical Significance ◽  
Key Factor ◽  
The Core Competence ◽  
Corporate Social ◽  
The Impact

Core competence is the key factor in the competitiveness of enterprises. This study examines whether enterprises with stronger core competence have the ability and motivation to fulfill more corporate social responsibilities. Taking the non-financial companies listed in the A-share market in China from 2010 to 2019 as the research samples, this paper constructs the measurement index of core competence by text analysis method and empirically tests the impact of core competence on corporate social responsibility. We find that the stronger the core competence is, the higher the corporate social responsibility will be, which means core competence can significantly improve corporate social responsibility. This conclusion remains significant after a series of robustness tests. The mechanism test shows that the impact of core competence on corporate social responsibility is realized by enhancing financial strength and increasing external attention. Further research shows that the relationship between core competence and corporate social responsibility are affected by the nature of the enterprise and the degree of market competition. When the enterprise is a non-state-owned enterprise or the industry competition is more intense, the influence of core competence on corporate social responsibility is stronger. This paper reveals the important impact of core competence on corporate social responsibility, which not only enriches the literature on the economic consequences of core competence and the influencing factors of corporate social responsibility but also has a certain practical significance for how to improve corporate social responsibility.

scholarly journals Will the Governance of Non-State Shareholders Inhibit Corporate Social Responsibility Performance? Evidence from the Mixed-Ownership Reform of China’s State-Owned Enterprises

2022 ◽  
Vol 14 (1) ◽  
pp. 527
Author(s):  
Rongwu Zhang ◽  
Yanzhen Lin ◽  
Yingxu Kuang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Internal Control ◽  
Market Competition ◽  
Economic Consequences ◽  
Mechanism Analysis ◽  
The Social ◽  
High Level ◽  
Corporate Social ◽  
The Impact

Fulfilling social responsibilities in order to sustain development has increasingly become a strategic choice for companies. Good corporate governance can guarantee high corporate social responsibility performance. This paper selects state-owned enterprises listed on the Shanghai and Shenzhen A-Share market from 2013 to 2019 as samples and uses a panel data OLS regression model to empirically test the impact of the governance of non-state shareholders on the social responsibility performance of state-owned enterprises from two aspects of shareholding: structure and high-level governance. The results show that, first, the governance of non-state shareholders helps to improve the social responsibility performance of state-owned enterprises; second, that mechanism analysis indicates that non-state shareholders improve the social responsibility performance of state-owned enterprises by improving the internal control quality; and third, the impact of the governance of non-state shareholders on the social responsibility performance of state-owned enterprises is heterogeneous in three aspects: the degree of marketization, the level of product market competition, and the corporate profitability. This paper not only helps to clarify the factors which influence the social responsibility performance of state-owned enterprises, but also enriches studies on the economic consequences brought by non-state shareholders through participating in the governance of state-owned enterprises.

The Effect of Internal Corporate Social Responsibility on Job Satisfaction: An Empirical Study on Jordanian Pharmaceutical Companies

2020 ◽  
Vol 8 (2) ◽  
pp. 112
Author(s):  
Sura Altheeb ◽  
Kholoud Sudqi Al-Louzi
Keyword(s):  
Job Satisfaction ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Quantitative Research ◽  
Skills Development ◽  
Future Research ◽  
Pharmaceutical Companies ◽  
Corporate Social ◽  
The Impact ◽  
Positive Results

The current research investigates the impact of internal corporate social responsibility on job satisfaction in Jordanian pharmaceutical companies. Quantitative research design and regression analysis were applied on a total of 302 valid returns that were obtained in a questionnaire based survey from 14 pharmaceutical companies among employees, supervisors and managers. The results showed that internal corporate social responsibility was significantly related to job satisfaction and three of its dimensions, namely working conditions, work life balance and empowerment contributed significantly to job satisfaction, whereas employment stability and skills development had no contribution. This study implies that Jordanian pharmaceutical companies have to try their best to promote and facilitate internal corporate social responsibility among their employees in an effort to improve their job satisfaction, which will eventually yield positive results for the company as a whole. In light of these results, the research presented many recommendations for future research; the most important ones were the application of this study in other sectors, cultures, and countries, and using of multi method for collecting data.

Corporate Social Responsibility and Earnings Management: The Moderating Role of Family Ownership

2019 ◽  
Vol 12 (1) ◽  
Author(s):  
Asif Saeed ◽  
Aijaz Mustafa Hashmi ◽  
Attiya Yasmin Javid
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Earnings Management ◽  
Family Firms ◽  
Negative Impact ◽  
Stock Exchange ◽  
Least Square ◽  
Family Ownership ◽  
Corporate Social ◽  
The Impact

This study aims to explore the impact of family ownership on the relationship among corporate social responsibility (CSR) and earning management (EM) in Pakistan. Data is collected from nonfinancial listed firms on Pakistan Stock Exchange (PSE) for the period 2009-2017. Our results of pooled ordinary least square regression indicate that CSR has significant negative impact on EM. Furthermore, results also indicate that association between CSR and EM is moderated by family ownership. Family firms which perform CSR activities are less involved in EM as compare to nonfamily firms perform CSR activities. This variation in behavior of EM in family and non-family firms can possibly be explained by socioemotional wealth theory. Keywords: Corporate Social Responsibility, Earnings Management, Family Ownership

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