The Impact of Corporate Social Responsibility Investment on the Cost of Debt for Korean Firms: Focusing on the Corporate Bond Rating and Corporate Governance Level

2016 ◽  
Vol 29 (7) ◽  
pp. 1193-1214
Author(s):  
Dongsoon Kim ◽  
◽  
Yangho Kook ◽  
Taegyu Jeong ◽  
◽  
...  
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Corporate Bond ◽  
Cost Of Debt ◽  
Bond Rating ◽  
Corporate Social ◽  
The Cost ◽  
The Impact

scholarly journals How Do Corporate Social Responsibility and Corporate Governance Affect Stock Price Crash Risk?

2020 ◽  
Vol 13 (2) ◽  
pp. 30 ◽  
Author(s):  
Ahmed Imran Hunjra ◽  
Rashid Mehmood ◽  
Tahar Tayachi
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Price ◽  
Negative Impact ◽  
Positive Impact ◽  
Generalized Method Of Moments ◽  
Crash Risk ◽  
Corporate Social ◽  
The Impact

We investigate the impact of corporate social responsibility (CSR) and corporate governance on stock price crash risk in manufacturing sector of India and Pakistan. We collect data of nine years from 2010 to 2018 from DataStream of 353 manufacturing firms. We apply the Generalized Method of Moments (GMM) to the analysis of the data. We find that when firms actively engage in CSR activities, they lead to reduced stock price crash risk. We further find that managerial ownership has a significant positive impact on stock price crash risk, while board size and CEO duality show a significant and negative impact on stock price crash risk.

scholarly journals The roles of cost of capital, corporate governance, and corporate social responsibility in improving firm value: evidence from Indonesia

2019 ◽  
Vol 16 (4) ◽  
pp. 28-36 ◽  
Author(s):  
Kartika Hendra Titisari ◽  
M. Moeljadi ◽  
Kusuma Ratnawati ◽  
Nur Khusniyah Indrawati
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Cost Of Capital ◽  
Corporate Sustainability ◽  
Corporate Image ◽  
Negative Effect ◽  
Corporate Social ◽  
The Impact

Corporate governance (CG) and corporate social responsibility (CSR) are important subjects for corporate sustainability that affect firm value (FV). At the same time research results in several countries provide diverse empirical evidence. This study analyzes the impact of corporate governance (CG) and corporate social responsibility (CSR) on firm value (FV) through the cost of capital (CoC) in public companies of Indonesia. The research sample includes 27 companies that publish sustainability reports and corporate governance reports, with an observation period from 2010 till 2016. This study presents the analysis of three firm value proxies (Tobin’s q (TQ), Price Earnings Ratio (PER), and Price to Book Value (PBV)). Results of hypotheses testing using Partial Least Squares (PLS) show that CG and CSR have both direct and indirect effects on FV. These findings are consistent for all three firm value assessments. According to direct testing, CG has a negative effect on FV, while CSR has a positive effect. The CoC acts as a mediating variable in this relationship. The CG and CSR have a negative effect on CoC, while CoC has a negative effect on FV. The findings show that CG and CSR can improve the company performance and corporate image internally and externally, thereby increasing the investors` confidence, and companies have the opportunity to obtain inexpensive funding sources that can reduce CoC. A decrease in CoC can increase profitability and have an impact on FV increasing.

scholarly journals Corporate governance and corporate social responsibility: A study of emerging market listed firms

2021 ◽  
Vol 18 (2) ◽  
pp. 90-105
Author(s):  
Annisa A. Lahjie ◽  
Riccardo Natoli ◽  
Segu Zuhair
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Least Squares ◽  
Emerging Market ◽  
Ordinary Least Squares ◽  
Listed Firms ◽  
Data Limitations ◽  
Corporate Social ◽  
The Impact

The main purpose of this paper is to examine the impact of corporate governance (CG) on corporate social responsibility (CSR) of Indonesian listed firms. Estimations via simultaneous equation models with ordinary least squares (OLS) and two-stage least squares (2SLS) were employed for 84 firms with a total of 924 observations over the period of 2007-2017. The results showed that a lack of CG in monitoring and supervisory mechanisms, as well as a high concentration of managerial ownership, can significantly contribute to low levels of CSR. There are data limitations as a number of firms were omitted due to the application of the CSR criteria utilised in this study. The research has implications for Indonesian listed firms with respect to aligning CSR initiatives to firm objectives. The paper provides recommendations for future research in this area. The paper provides one of the few studies to analyse CG on CSR via a comprehensive measurement of CSR. Further, it adds to the empirical academic literature from a developing country context

scholarly journals Biaya Modal Perusahaan di Indonesia: Tanggung Jawab Sosial dan Tata Kelola Perusahaan

2021 ◽  
Vol 26 (3) ◽  
pp. 361
Author(s):  
A. Firmansyah, A. F. Andriyani, M. L. Mahrus, W. Febrian, P. H. Jadi
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Cost Of Capital ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Linear Regression Analysis ◽  
Annual Reports ◽  
Corporate Social ◽  
The Cost

The high capital cost indicates the company's risk to obtain funding from debt and equity. The test in this study aims to prove the association between corporate social responsibility and corporate governance with the cost of capital. This study employs data sourced from financial reports and annual reports of the listed companies on the Indonesia Stock Exchange, downloaded from www.idx.co.id. In addition, this research data also employs stock price information sourced from finance.yahoo.com. The sample selection in this study used purposive sampling with a total sample of 260 observations from 65 companies from 2016 to 2019. The hypothesis test in this study used multiple linear regression analysis for panel data. This study concludes that corporate governance is positively associated with the cost of capital, while corporate social responsibility is negatively associated with the cost of capital. This study suggests that Indonesia's capital market supervisory authority needs to improve its governance policies and governance oversight mechanisms for companies listed on the Indonesia Stock Exchange.

scholarly journals Do Political Connection and Corporate Governance Mechanism Increase Corporate Social Responsibility Disclosure?

2021 ◽  
pp. 28-46
Author(s):  
Yeterina Widi Nugrahanti
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Institutional Ownership ◽  
Political Connection ◽  
Governance Mechanism ◽  
Corporate Governance Mechanism ◽  
Csr Disclosure ◽  
Corporate Social ◽  
The Impact

The objective of this study is to investigate the impact of political connection and corporate governance mechanisms (independent board of commissioner, institutional ownership, and board of commissioner size) toward Corporate Social Responsibility (CSR) disclosures using Global Reporting Initiative (GRI) Guidelines. Purposive sampling technique was conducted and 272 non-financial companies listed in the Indonesian Stock Exchange during 2015-2017 were acquired as the samples (816 firm-years). For testing the hypotheses, unbalanced Generalized Least Square panel data regression was employed. The finding shows that political connection and board of commissioner size have a positive impact on CSR disclosures while independent board of commissioner and institutional ownership do not. This study contributes to political connection, corporate governance mechanism, and CSR disclosure literature by identifying CSR disclosure based on GRI guidelines up to the most detailed level, which are 77 disclosure items indicators and 254 sub-indicators. Meanwhile, previous research only identify CSR disclosure up to 77 GRI indicators without paying attention to the sub-indicators in detail.

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