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.

Impact of corporate social responsibility (CSR) awareness, affordability and management system sophistication on CSR performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anura De Zoysa ◽  
Nobyuki Takaoka ◽  
Yuqian Zhang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Management System ◽  
Structural Equation ◽  
Critical Role ◽  
Content Type ◽  
Japanese Firms ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship

PurposeThis paper aims to examine the impact of three key factors — corporate social responsibility (CSR) awareness, CSR affordability and CSR management system (CSRMS) sophistication—on the CSR performance of Japanese firms.Design/methodology/approachUsing responses to 36 items developed on the Global CSR standard of ISO26000, two CSR indexes were constructed to assess the CSR management system sophistication and performance of Japanese firms. The relationship between the three key variables (CSR awareness, affordability and management system sophistication) and CSR performance was then examined through a partial least squares (PLS)-based structural equation model. Data were collected through a questionnaire survey of 146 firms.FindingsThe results of the study found a positive relationship between CSR performance and three exogenous variables (CSR awareness, affordability and management system sophistication). Furthermore, the study found that CSRMS sophistication played a mediating role in the relationship between CSR performance and firms' CSR awareness and affordability.Research limitations/implicationsThe study was limited to examining the CSR practices of a major province in Japan, which may hinder the generalisation of the findings to the rest of the country. Moreover, the data used for assessing the variables in this study were self-reported by the participating firms, in addition to being cross-sectional. The findings of this study clarified areas that policymakers, including Japan's business associations–Keidanren and Keizai Doyukai, and other relevant parties need to focus on for further improving CSR performances of Japanese firms.Originality/valueThis study highlights the role CSR awareness, affordability and CSRMS sophistication play in improving CSR performance. On the one hand, it identifies the critical role CSRMS plays in mediating the relationship among CSR performance, awareness and affordability. On the other hand, it advances CSR theory providing insight for practitioners to generate positive CSR outcomes.

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 Do Employees Matter in the Relationship between Corporate Social Responsibility and Financial Performance?

2019 ◽  
Vol 11 (22) ◽  
pp. 6251 ◽  
Author(s):  
Jae Mee Yoo ◽  
Woojae Choi ◽  
Mi Lim Chon
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Employee Commitment ◽  
Micro Level ◽  
And Performance ◽  
Internal Stakeholders ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship

This study investigated the mechanism behind the impact of corporate social responsibility (CSR) on firms’ financial performance while focusing on internal stakeholders. Although many studies have examined the effects of CSR few has empirically investigated the underlying process of the mechanism. In addition, previous research has rarely regarded employees as a link between CSR and firms’ outcomes, despite employees implementing CSR policies. This study explored the pathway of the CSR-employees-firm’s performance. Employee commitment was used to explain the relationship between CSR and performance, since it is an important employee-associated micro-level outcome of CSR. The results showed that CSR indirectly influenced a firm’s accounting profitability through enhanced employee commitment, as well as directly affected firm’s profitability. CSR increases employee commitment, which in turn leads to improvements in a firm’s accounting returns. The paper suggests that employees should be considered as an important agent for the effects of CSR initiatives.

scholarly journals Can Environmental Corporate Social Responsibility Reduce Firms’ Idiosyncratic Risk? Evidence From China

2020 ◽  
Vol 8 ◽  
Author(s):  
Xiaoran Kong ◽  
Yuying Pan ◽  
Huaping Sun ◽  
Farhad Taghizadeh-Hesary
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Information Asymmetry ◽  
Internal Control ◽  
Idiosyncratic Risk ◽  
Listed Firms ◽  
External Monitoring ◽  
Corporate Social ◽  
The Impact ◽  
A Share

Environmental corporate social responsibility (ECSR) can be a strategy to increase the transparency of investment information effectively to alleviate information asymmetry. The purpose of this article is to examine the impact of ECSR on firms’ idiosyncratic risk. Using the data of A-share listed firms in China and data of Rankins CSR Ratings by developing econometrics models, this study documents that ECSR can significantly reduce the firms’ idiosyncratic risk. This result perpetuates after a series of robustness checks. Besides, the results of conditional analyses reveal that the effect of ECSR is more pronounced for state-owned firms and firms with weaker external monitoring mechanisms and low internal control. Moreover, further evidence suggests that firms with high ECSR show a greater tendency to disclose more information, which reduces the information asymmetry and offers linkages from ESCR to firms’ idiosyncratic risk.

The relationship between corporate social responsibility and corporate reputation in a turbulent environment: Spanish evidence of the Ibex35 firms

2015 ◽  
Vol 15 (4) ◽  
pp. 563-575 ◽  
Author(s):  
José Luis Fernández Sánchez ◽  
Ladislao Luna Sotorrío ◽  
Elisa Baraibar Diez
Keyword(s):  
Corporate Social Responsibility ◽  
Financial Crisis ◽  
Social Responsibility ◽  
Corporate Reputation ◽  
Content Type ◽  
Current Financial Crisis ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship ◽  
Positive Effect

Purpose – The purpose of this study is to provide more knowledge about the model to generate reputation and its relationship in the long term with companies’ strategy of social responsibility. Particularly, research is done to test whether there is a positive effect of firms’ social behaviour (corporate social responsibility [CSR]), analysing differences of intensity and consistency, on their corporate reputation (CR) and whether the current financial crisis is a factor that has changed the relationship between both variables (moderator factor). Design/methodology/approach – This study uses a sample of 26 Spanish large firms of the Ibex35 index and covers an eight-year period from 2004 to 2011. To test the hypotheses of this research, a fixed-effects model was estimated using moderating regression analysis. Findings – The results obtained show that, for the Spanish Ibex35 companies, CSR practices according to their consistency have a significant positive effect on CR and in turbulent environments, as in the current financial crisis, it has had a significant positive influence on the CSR-CR relationship. Originality/value – Although a substantial number of empirical studies have examined the relationship between firms’ strategy and their performance, only a few of them have analysed the impact of the external environment on this relationship, whereby there is a need for longitudinal studies with different economic scenarios to achieve better knowledge of the CSR–CR relationship.

scholarly journals Impact of Companies’ Characteristics on the Relationship between Corporate Social Responsibility Disclosure and Corporate financial Performance - An Empirical Analysis

2021 ◽  
Vol 39 (7) ◽  
Author(s):  
Sayeed Zafar Qazi ◽  
Parvesh Kumar Aspal
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Empirical Support ◽  
Corporate Financial Performance ◽  
Economic Point ◽  
Corporate Social Responsibility Disclosure ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship

Strategic managers are persistently accosting with the decision of switching the scared corporate resource for the community welfare to balance the shareholders’ and multiple stakeholders’ interests. Corporate houses are presumed to not only intensify the economic priorities of investors, but must also consider the community and environmental ramifications as well. Presently, corporations are in dilemma over whether investment in corporate social responsibility (CSR) initiatives will be a cost or gain from an economic point of view. For this purpose, the association between CSR disclosure and corporate financial performance has been empirically explored and also the company characteristic has been considered as a significant and interesting factor influencing the association between CSR and corporate financial performance. The prime objective of the present paper is to examine the impact of companies’ characteristics i.e., Age of company on the relationship between corporate social responsibility disclosure and corporate financial performance. Panel data regression statistical technique has been applied to investigate and analyze the relationship. The findings of the study reveal that companies CSR have significant influence on their financial performances.  But, on the other hand the company characteristic, age of the company has no significant impact on the corporate financial performance. The findings are found consistent with earlier studies, which validate the company’s venture in undertaking the CSR initiatives. The present study addresses theoretical as well as empirical support and inspiration for the corporations towards CSR initiatives.

scholarly journals Impact of Corporate Social Responsibility on the Financial Performance of Banks in Pakistan

2014 ◽  
Vol 21 ◽  
pp. 9-19 ◽  
Author(s):  
M. Shoukat Malik ◽  
Muhammad Nadeem
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Service Sector ◽  
Annual Reports ◽  
Net Profit ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship

The purpose of this paper is to investigate the impact of Corporate Social Responsibility on the Financial Performance of banks in the service sector of Pakistan. The data is obtained from the annual reports issued by the banks during 2008-2012. To verify the relationship between EPS, ROA, ROE, Net Profit and CSR regression models are used. The results show that there is lack of CSR in Pakistan and the regression model shows that there is positive relationship between profitability (EPS, ROA, ROE, and Net Profit) and CSR practices. The Financial institutions which implements CSR in their operations earn more profit for the long term periods.

scholarly journals The moderating effect of corporate governance to the relationship of corporate social responsibility and product market competition to company value

2021 ◽  
Vol 24 ◽  
pp. 317-323
Author(s):  
Elyzabet Indrawati Marpaung ◽  
Yvonne Augustine
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Market Competition ◽  
Product Market ◽  
Product Market Competition ◽  
Company Value ◽  
Corporate Social ◽  
Relationship Of ◽  
The Relationship

The objective of this research is to find out the moderating effect of corporate governance on the relationship of corporate social responsibility and product market competition to company value. The control variable in this study is company size. The sample of this study was 216 observations consisting of 54 manufacturing companies listed in the Indonesia Stock Exchange from 2016 until 2019. Moreover, the simple random sampling method is employed to grab them. To analyze the data, we use the multiple regression model with polling data. The findings of this research are product market competition negatively affects company value. In opposition, corporate social responsibility and  corporate governance positively affect company value. Meanwhile, corporate governance only moderates the effect of product market competition on the company value. The implication of this study is that good corporate governance practices can reduce the negative effects of PMC on company value.    

Corporate social responsibility and institutional investors: the intervening effect of financial performance

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shafat Maqbool ◽  
Nasir Zamir
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Institutional Investors ◽  
Decision Process ◽  
Content Type ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship

PurposeThe research on the role of corporate social responsibility in investors' decision process has proliferated over the past few decades. This paper aims to explore the mediating role of financial performance in the relationship between corporate social responsibility and institutional investors.Design/methodology/approachPanel regression was performed on a sample of 29 commercial banks nine years from 2009 to 2017.FindingsThe initial findings of the study show that that corporate social responsibility has a positive and significant impact on institutional investors. However, when the interaction term (financial performance) was incorporated, the relationship between CSR and institutional turns out to be neutral. The study concludes that financial performance plays a pivotal role in the selection of investment avenues.Originality/valueIn Indian context, there is a dearth of research work which studies the impact of sustainable practices on investors' decision process. This topic has received wider attention but lacks insights from developing countries, like India. This article presents a new approach to verify the relationship through the mediating variable (financial performance).

Sign in / Sign up

Export Citation Format

Share Document