scholarly journals Institutional Investors, Corporate Social Responsibility, and Stock Price Performance

2017 ◽  
Author(s):  
Elizabeth Motta
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Institutional Investors ◽  
Stock Price ◽  
Price Performance ◽  
Corporate Social

CEO Materialism and Corporate Social Responsibility

2018 ◽  
Vol 94 (1) ◽  
pp. 101-126 ◽  
Author(s):  
Robert H. Davidson ◽  
Aiyesha Dey ◽  
Abbie J. Smith
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Price ◽  
Fixed Effects ◽  
Price Performance ◽  
Corporate Social ◽  
Jel Classifications

ABSTRACT We study the role of individual CEOs in explaining corporate social responsibility (CSR) scores. We find that CEO fixed effects explain 59 percent of the variation in CSR scores, whereas firm fixed effects explain 23 percent of the variation in CSR scores. Specifically, firms led by materialistic CEOs have lower CSR scores, fewer strengths, and more weaknesses. Finally, we document that CSR scores in firms with non-materialistic CEOs are positively associated with accounting and stock price performance. In contrast, CSR scores in firms with materialistic CEOs are unrelated to profitability. JEL Classifications: G30; G34; G38.

scholarly journals Pengaruh Dimensi Pengungkapan Corporate Social Responsibility Terhadap Future Institutional Ownership

2016 ◽  
Vol 17 (1) ◽  
pp. 91
Author(s):  
Rizky Eriandani
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Institutional Investors ◽  
Positive Impact ◽  
Investment Decisions ◽  
Measurement Instrument ◽  
Institutional Ownership ◽  
Manufacturing Companies ◽  
Csr Disclosure ◽  
Corporate Social

<em>Corporate social responsibility practice becomes important subject in company`s activity, because it will affect the company's reputation. Besides, institutional investors likely prefer to invest in companies that have a social responsibility as it is considered to increase the legitimacy and future performance. This study aims to investigate the effect of CSR disclosure on institutional ownership. We use percentages ownership to measure institutional ownership. CSR measurement instrument used in this study adopted a previous research. The instrument comes from research Hackston and Milne, which was adjusted with Bapepam regulation in Indonesia. We also divided CSR disclosures in four sub-dimensions. The samples used in this research were 115 listed agriculture, mining, and manufacturing companies in indonesian Stock Exchange which studied during the years of 2010. Using SPSS 20, The analysis methods of this research used multiple regression analysis. Studies shows that not all dimensions of CSR disclosure effect on institutional ownership. Only product dimensions of CSR disclosures has a significant positive impact on institutional ownership. However, this paper fail to find any significant impact of another CSR dimensions. Thus, our study suggests that the dimensions of the product can affect investment decisions. In contrast, institutional investors have not focused on environment, employee relation, and community activities in investment decisions.</em>

Audited Financial Reporting and Voluntary Disclosure of Corporate Social Responsibility (CSR) Reports

2016 ◽  
Vol 28 (2) ◽  
pp. 53-76 ◽  
Author(s):  
Long Chen ◽  
Bin Srinidhi ◽  
Albert Tsang ◽  
Wei Yu
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Reporting ◽  
Voluntary Disclosure ◽  
Stock Price ◽  
Reporting Quality ◽  
Positive Association ◽  
Audit Fees ◽  
Csr Reporting ◽  
Corporate Social

ABSTRACT Prior studies show that corporate social responsibility (CSR) reporting is informative to investors but lacks credibility. This study examines whether a commitment to audits of financial outcomes, proxied by audit fees, is associated with greater CSR reporting credibility. We find that audit fees are positively associated with the likelihood of standalone CSR report issuance, and this positive association becomes stronger when managers perceive a greater need for credibility, i.e., when CSR reports are longer or issued with external assurance, when firms have strong CSR concerns, and when reports are issued sporadically. Corroborating our results, we find that CSR reports issued by firms committing to high audit fees accelerate the incorporation of future earnings information into current stock price. Taken together, our findings suggest that a commitment to higher financial reporting quality has the potential to bring positive externality to firms' nonfinancial disclosures and ultimately affects the issuance of CSR reports.

Corporate Social Responsibility Performance and Outsourcing: The Case of the Bangladesh Tragedy

2017 ◽  
Vol 16 (1) ◽  
pp. 59-79 ◽  
Author(s):  
Gyung H. (Daniel) Paik ◽  
Byunghwan (Brandon) Lee ◽  
Kip R. Krumwiede
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Price ◽  
Multinational Firms ◽  
Developed Countries ◽  
Worker Safety ◽  
Labor Costs ◽  
Subsequent Performance ◽  
Social Visibility ◽  
Corporate Social

ABSTRACT Multinational firms frequently outsource the manufacturing of their products to factories in less-developed countries to take advantage of much lower labor costs. A tragic disaster occurred in Bangladesh in April 2013 when a clothing factory building collapsed, killing more than 1,000 workers. Subsequently, textile companies in the U.S. and in Europe that outsource their manufacturing in Bangladesh had to decide whether to commit to better working conditions by signing one of two worker safety agreements (WSAs) born from the aftermath of the tragedy. Although many firms signed one of these agreements, many more did not. This study explores the relationship between an actual corporate social responsibility (CSR) commitment and firm performance using a sample of companies that signed one of the WSAs after the Bangladesh disaster and those that did not. The results suggest that the decision to sign is positively associated with social visibility, prior CSR performance, and impact in stock price after the tragedy. Regarding subsequent performance, investors favorably responded to the news of firms' signing the WSA agreement.

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