Corporate social responsibility and dividend payments in the Malaysian capital market: the interacting effect of family-controlled companies

2021 ◽  
pp. 1-24
Author(s):  
Bazeet Olayemi Badru ◽  
Ameen Qasem
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Capital Market ◽  
Dividend Payments ◽  
Corporate Social

scholarly journals CSR accounting ‘new wave’ researchers: ‘step up to the plate’… or ‘stay out of the game’

2020 ◽  
Vol 19 (4) ◽  
Author(s):  
Charles H. Cho
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Capital Market ◽  
New Wave ◽  
Accounting Research ◽  
Market Driven ◽  
Corporate Social ◽  
Instrumental Approaches ◽  
Pain Points

Recent discussions at accounting conferences and workshops suggest that academics are ‘deeply divided’ on the role and purpose of corporate social responsibility (CSR) accounting. This ‘rift’ has been created by moves from mainstream accounting researchers to contribute to a body of evidence that is almost 50 years old without—many believe—being cognizant, or even respectful, of the work that has gone before. The existing work by CSR accounting scholars puts sustainability of the planet at its core, rejecting narrow or instrumental approaches to the fundamental issues; in contrast, more recent ‘capital market-based’ work takes investor-centric, or market-driven approaches to ‘sustainability’ and CSR. While there are calls for greater understanding of, and empathy for, each other’s views and perspectives, this essay identifies some particular pain-points, and calls for new wave researchers—those who recently ‘(re)discovered’ CSR accounting research—to ‘step up (to their plate)’ or simply ‘stay in their own lane (or, out of the game)’.

Corporate social responsibility (CSR) website disclosures: empirical evidence from the German banking industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Philipp Schröder
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Market Orientation ◽  
Capital Market ◽  
Nonparametric Tests ◽  
Government Ownership ◽  
Content Type ◽  
Recommendations For Action ◽  
Csr Disclosure ◽  
Corporate Social

PurposeContent analysis was used to examine the CSR disclosures of 78 bank websites based on four categories: environment and energy, human resources, customers and products and community involvement. Furthermore, sample units were grouped according to their characteristics, and nonparametric tests were employed to determine significant differences between these groups.Design/methodology/approachThis study (1) examines the extent of corporate social responsibility (CSR) disclosure on bank websites and (2) analyzes the relationship between online CSR disclosure and bank characteristics (i.e. size, profitability, capital market orientation, government ownership, media visibility and bank category).FindingsThe results reveal that the most-disclosed (least-disclosed) CSR information by banks relates to customers and products (environment and energy). Moreover, characteristics such as size, capital market orientation, government-ownership and media visibility are significant in explaining CSR website disclosures, while profitability (bank category) is not (only partially) significant.Research limitations/implicationsAlthough the sample constitutes all the relevant banks in Germany, it is small and limited to a single national context. Thus, the results may not be generalizable.Originality/valueThis study contributes to the relatively scarce literature concerning CSR disclosures on banks' websites, provides new empirical data and extends prior research that compares CSR practices among different types of banks. Recommendations for action are also formulated that are relevant for banking practitioners in the present and future.

scholarly journals The Value of Academic Directors to Stakeholders: Evidence on Corporate Social Responsibility Reporting

2020 ◽  
Author(s):  
Hsin-Yi Huang ◽  
Cheng-Hsun Lee ◽  
Chih-Hsien Liao
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Capital Market ◽  
Third Party ◽  
Additional Analysis ◽  
Csr Reporting ◽  
Positive Effects ◽  
Stakeholder Interests ◽  
Corporate Social Responsibility Reporting ◽  
Corporate Social

This study explores the regulatory setting in Taiwan and examines the association between academic directors and corporate social responsibility (CSR) reporting. We find that firms with academic directors on their boards are more likely to issue standalone CSR reports and to obtain third-party assurance on such reports. We also demonstrate that an academic director’s university prestige as well as industry expertise both have incremental positive effects on CSR reporting. Additional analysis further suggests that a firm’s CSR reporting is better valued by the capital market when the firm has academic directors, consistent with academic directors strengthening investors’ perceptions regarding the credibility of voluntarily-disclosed CSR information. Our finding that the presence of academic directors can promote better CSR reporting indicates that academic directors contribute not only to shareholder value, but also to wider stakeholder interests.

scholarly journals Corporate Social Responsibility and Post Earnings Announcement Drift: Evidence from Korea

2021 ◽  
Vol 13 (11) ◽  
pp. 6496
Author(s):  
Hyunjung Choi ◽  
Haeyoung Ryu
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
South Korea ◽  
Capital Market ◽  
Stock Prices ◽  
Management Strategies ◽  
Earnings Announcement ◽  
Earnings Information ◽  
Post Earnings Announcement Drift ◽  
Corporate Social

To promote corporate social responsibility (CSR) in emerging markets such as South Korea to the level of developed nations, support from capital market investors is necessary. That is, CSR activities expand if capital market investors actively invest in companies that pursue such activities. This study thus analyzes the influence of the level of CSR activities on the post-earnings-announcement drift (PEAD) of publicly listed companies in South Korea, given the need to analyze the relationship between capital markets and CSR, which is part of sustainability management strategies. A sample of Korean firms listed on the Korean Stock Exchange from 2014 to 2018 was used for the regression analysis. The financial and stock return data were extracted from the KIS-Value database and CSR activities data were collected from the Korea Economic Justice Institute (KEJI) Index. The empirical analysis determined that more inactive companies in terms of CSR exhibited greater PEAD magnitude. Furthermore, high information asymmetry was found to further increase the magnitude of PEAD. These results indicate that investors cannot make swift investment decisions because of their low confidence in the information disclosed by inactive CSR companies; as a result, earnings information is slowly reflected in the stock prices of the period following disclosure. These findings suggest that CSR plays an important role in boosting investor confidence in corporate earnings information.

scholarly journals Voluntary Disclosure and Market Valuation of Sustainability Reports in Korea: The Case of Chaebols

2019 ◽  
Vol 11 (13) ◽  
pp. 3577
Author(s):  
Dongheun Lee ◽  
Sejoong Lee ◽  
Na-Eun Cho
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Capital Market ◽  
Voluntary Disclosure ◽  
Firm Value ◽  
Effective Means ◽  
Sustainability Reports ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Positive Effect

This paper investigates whether chaebol firms tend to issue corporate social responsibility (CSR) reports more than non-chaebol firms. Based on previous studies documenting chaebols’ tunneling activities at the expense of other shareholders, we anticipate that chaebol firms are more likely to voluntarily disclose their CSR reports even if investors may discount their values because CSR disclosure is an effective means of window dressing. The empirical results support our expectations. We find that chaebol firms are more likely to disclose CSR reports and a chaebol firm’s CSR report disclosure is less evaluated than a non-chaebol firm in the capital market. The result indicates that even if CSR report disclosure may have positive effect on firm value in general, investors may discount the value of chaebol firms’ CSR reports.

scholarly journals THE RELATIONSHIP BETWEEN CAPITAL STRUCTURE AND FIRM PERFORMANCE: UNDER THE MODERATING ROLE OF CORPORATE SOCIAL RESPONSIBILITY (CSR)

2020 ◽  
Vol 8 (3) ◽  
pp. 85-95
Author(s):  
Miao Wenhao ◽  
◽  
Junainah Jaidi ◽  
Rosle Mohidin ◽  
◽  
...  
Keyword(s):  
Corporate Social Responsibility ◽  
Firm Performance ◽  
Social Responsibility ◽  
Capital Structure ◽  
Capital Market ◽  
Business Strategy ◽  
Negative Impact ◽  
Negative Relationship ◽  
Corporate Social ◽  
The Relationship

This paper investigates the moderating effect of Corporate Social Responsibility (CSR) on the relationship between capital structure and firm performance on the Chinese capital market. This paper applied a panel data regression technique using data composition represented by SSE180 index for a period spanning from 2010 until 2019. A total of 86 representative large listed firms was employed in this study for the period of 10 years with a total of 860 firm-year observation. The empirical results showed that debt has a significant negative relationship with firm performance. More importantly, this paper found that the level of CSR moderates the relationship between capital structure and firm performance. The study also found that, the relationship between capital structure and firm performance diminishing when the level of CSR is higher. In China capital market context, the debt ratio is quite high and CSR is a useful business strategy that could diminish the negative impact of capital structure on firm performance. Therefore, firms should comprehensively consider relevant influencing factors, such as CSR, and apply appropriate methods in determining the optimal capital structure in improving their firm performance.

scholarly journals The Impact of Corporate Charitable Contributions on Audit Hours

2019 ◽  
Vol 11 (4) ◽  
pp. 1045
Author(s):  
Hongmin Chun ◽  
Jaeyon Chu ◽  
Yongsuk Yun
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Capital Market ◽  
Financial Statements ◽  
Opportunistic Behavior ◽  
Matching Method ◽  
Charitable Contributions ◽  
Market Participants ◽  
Corporate Social ◽  
The Impact

Corporate social responsibility (CSR) is a pertinent strategy to enhance consumer perception of product quality and a company’s reputation. A growing body of literature has investigated whether corporate charitable contributions play a similar role to that of corporate social responsibility. Controversy still remains over the cause and effect of corporate charitable contributions. This study’s objective was to examine whether auditors apply more effort when reviewing firms with a higher level of corporate charitable contributions. For example, if auditors perceive corporate charitable contributions as the opportunistic behavior of managers, then the auditors thoroughly review and prepare financial statements. However, if auditors assess corporate charitable contributions as one of a firm’s ethical responsibilities, then they are not likely to put in more effort when reviewing such firms. This paper aims to examine how capital market participants assess a firm’s charitable contributions. Using an extensive set of data for Korea from 2008 to 2015, we conducted a battery of robustness analyses to address various endogeneity issues using the abnormal audit hour model, propensity score matching method, and 2SLS regression. We found that corporate charitable contributions were positively associated with audit hours. It indicated that auditors applied more effort when they reviewed firms with corporate charitable contributions. The results suggest that auditors in Korea do not perceive corporate charitable contributions as a CSR activity but rather as an indication of the opportunistic behavior of managers.

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