scholarly journals The impacts of corporate social resposibility practices on firm financial performance: Empirical evidence from Asian oil and gas industry

2021 ◽  
pp. 52-56
Author(s):  
Nguyen Thanh Dat Nguyen
Keyword(s):  
Financial Performance ◽  
Social Practice ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Asian Countries ◽  
Data Set ◽  
Gas Industry ◽  
Firm Financial Performance ◽  
Corporate Social ◽  
The Impact

The paper aims to investigate the impact of Corporate Social Responsibility (CSR) practices on the financial performance of oil and gas firms in Asian countries by using a panel data set that includes 23 firms from 7 Asian countries from 2004 to 2017. The empirical results support the research hypothesis that CSR practices have a negative impact on the financial performance of oil and gas companies. This means CSR practices may impose a substantial burden on firms in the oil and gas industry. In addition, we find that different CSR practices have different sizes of impact on firm financial performance. In particular, environment practice has the biggest impact, social practice ranks second, and governance practice has the weakest impact. The main results are also confirmed by several robustness tests.

Corporate social responsibility and financial performance nexus

2018 ◽  
Vol 9 (3) ◽  
pp. 301-328 ◽  
Author(s):  
Joseph Dery Nyeadi ◽  
Muazu Ibrahim ◽  
Yakubu Awudu Sare
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Positive Impact ◽  
Public Investment ◽  
Data Set ◽  
Content Type ◽  
The Public ◽  
Firm Financial Performance ◽  
Corporate Social ◽  
The Impact

Purpose The paper aims to investigate empirically the impact of corporate social responsibility (CSR) on financial performance in South African listed firms. Design/methodology/approach The paper uses panel corrected standard errors to estimate the effect of CSR on firm financial performance and thus addresses contemporaneous cross-correlations across the panel cross sections. The study uses a broad base measure of CSR created by the Public Investment Corporation data set and the combination of accounting and economic means of measuring firm financial performance. Findings CSR is found to have a strong positive impact on firm financial performance in South Africa. When CSR is decomposed further into its major components, governance performance positively impacts a firm’s financial performance with no evidence of any relationship between social components and firm performance and between environmental components and firm performance. The positive impact of CSR on firm performance is greater in big firms. At the industry level, CSR is noticed to impact positively on financial performance in the extractive industry via good governance and responsible environmental behaviors. It however has no impact on firm performance in the financial sector. Research limitations/implications The results should be interpreted with caution and some limitations. Due to the limiting nature of the Public Investment Corporation data set (the survey was carried out on selected firms on the Johannesburg Stock Exchange for three years spanning from 2011 to 2013). This resulted in a sample of 56 firms. It is therefore very problematic to generalize the findings to a larger population over a long period of time. This is more limiting especially on individual sector studies where the sample has further shrunk to a smaller sample. As a result of the smaller sample size, the authors were unable to explore some other sectors which could have given more revealing findings. The authors recommend that future research should explore other data sets or use primary data approach that can allow for more sample size and elongated time period for a more holistic view and for easy generalization of the findings. The authors also identify an important lacuna necessitating further research effort. It would be interesting to empirically examine the threshold point of firms’ size beyond which CSR damages firms’ performance. Knowledge of this will guide managers of firms in their strategic CSR decision. Practical implications This study does not only serve as a reference work for subsequent investigations into the impact of CSR on firm performance in sub-Saharan Africa but also serves as a guide to policymakers on the financial impact of CSR adoption. Originality/value This study is one of the pioneering works that comprehensively examines the effect of CSR on financial performance amongst South African firms via size and sector and also controls for contemporaneous cross-correlation effects from the firms in the panel set.

scholarly journals Sustaining the Oil and Gas Industry through corporate social responsibility practices by multinational oil and gas companies in emerging economies.

2021 ◽  
Author(s):  
Ama Twumwaa Gyane ◽  
Edward Kweku Nunoo ◽  
Shafic Suleman
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Emerging Economies ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Data Set ◽  
Key Aspects ◽  
Corporate Social ◽  
Oil And Gas Companies

Abstract The objective of this study was to provide empirical evidence from the perspective of corporate social responsibility practices by multinational oil and gas companies in emerging economies on how investments in and disclosure of this practice could enhance financial sustainability. Accounting-based measures on investments, financial performance, disclosures of activities and panel data set on company size (total assets) over a 10-year period (t) were analysed. Findings show that oil firms with interest in emerging economies take key aspects of corporate social responsibility practices seriously. There was significant positive relationship (p = 0.0035 < 0.05) between investment in the practice and sustainability in financial performance. No significant relationship (p = 0.4409 > 0.05) was established between disclosure and financial performance. Functional corporate social responsibility practices were envisaged to yield sustained dividend in terms of a stronger financial outlook for oil and gas companies for poverty alleviation and to achieve key sustainable development goals and targets in emerging economies.

scholarly journals Examining the relationship between patent applications and financial positions in the upstream Oil and Gas Industry: evidence from Brazil

2021 ◽  
Vol 8 (4) ◽  
pp. 78-102
Author(s):  
Fábio de Oliveira Paula ◽  
Gabriel Marcuzzo do Canto Cavalheiro
Keyword(s):  
Financial Performance ◽  
Empirical Evidence ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Financial Position ◽  
Recent Increase ◽  
Patent Applications ◽  
The Impact ◽  
The Relationship

With the discovery of the Pre-Salt reserves, exploration of oil and gas is being strongly extended in Brazil, contributing to the recent increase of the demand for drilling capabilities. This paper discusses the impact of this oil discovery by assessing the relationship among the growth of proven reserves, the financial position of firms, and patent applications in the Brazilian upstream oil and gas industry. We provide empirical evidence indicating that firms with a lower financial performance prior to the pre-salt discovery were more aggressive in increasing the number of patent filings addressing technologies of the upstream oil and gas domain.

scholarly journals Impact of Corporate Social Responsibility on Firm’s Financial Performance: The Tanzanian Perspective

2016 ◽  
Vol 7 (1) ◽  
pp. 18 ◽  
Author(s):  
Juliana Isanzu ◽  
Xu Fengju
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Developed Countries ◽  
Least Developed Countries ◽  
Data Set ◽  
Firm Financial Performance ◽  
Significant Difference ◽  
Corporate Social ◽  
The Impact

There has been a significant growth of interest in the field of corporate social responsibilityand the debate is still hot. There are however very few studies done in the least developedcountries on the subject matter.The main objective of the study was to investigate the impact ofCSR on Firm Financial Performance in the least developed countries, Tanzania being the countryin question. The aim of this paper is to find out if there is a significant difference in financialperformance of firms that engage in CSR relative to those that do not practice CSR. Independentsample t-test was used to test hypotheses. The data set included randomly selected 101 firmsoperating in Tanzania using accounting based measures of financial performance namely Returnon Asset, Return on Equity.The findings presented revealed that there is a significance differencein financial performance favoring those firms that do Corporate Social Responsibility, implyingthat CSR has a positive influence on firm financial performance. Firms should then engage incorporate social responsibility so as to improve their financial performance and managers shouldnot underestimate the contribution they make by committing their time and resources to makesure their CSR programs are effective in order to achieve the competitive advantage.

Consideration of Geopolitical Challenges within the Analysis of Geoenvironmental Risks for Oil and Gas Development of the Russian Arctic

2019 ◽  
Vol 16 (6) ◽  
pp. 50-59
Author(s):  
O. P. Trubitsina ◽  
V. N. Bashkin
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Optimal Operation ◽  
The Arctic ◽  
Stage Model ◽  
Oil And Gas Development ◽  
Gas Industry ◽  
The Impact ◽  
Further Development ◽  
Geopolitical Risks

The article is devoted to the consideration of geopolitical challenges for the analysis of geoenvironmental risks (GERs) in the hydrocarbon development of the Arctic territory. Geopolitical risks (GPRs), like GERs, can be transformed into opposite external environment factors of oil and gas industry facilities in the form of additional opportunities or threats, which the authors identify in detail for each type of risk. This is necessary for further development of methodological base of expert methods for GER management in the context of the implementational proposed two-stage model of the GER analysis taking to account GPR for the improvement of effectiveness making decisions to ensure optimal operation of the facility oil and gas industry and minimize the impact on the environment in the geopolitical conditions of the Arctic.The authors declare no conflict of interest

Study the effect of casting temperature on details from thermo-plastic materials

2020 ◽  
pp. 42-45
Author(s):  
J.A. Kerimov ◽  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Mold Temperature ◽  
Quality Parameters ◽  
Oil Field ◽  
Casting Temperature ◽  
Gas Industry ◽  
Field Equipment ◽  
Wide Range ◽  
The Impact

The implementation of plastic details in various constructions enables to reduce the prime cost and labor intensity of machine and device manufacturing, decrease the weight of design and improve their quality and reliability at the same time. The studies were carried out with the aim of labor productivity increase and substitution of colored and black metals with plastic masses. For this purpose, the details with certain characteristics were selected for further implementation of developed technological process in oil-gas industry. The paper investigates the impact of cylinder and compression mold temperature on the quality parameters (shrinkage and hardness) of plastic details in oil-field equipment. The accessible boundaries of quality indicators of the details operated in the equipment of exploration, drilling and exploitation of oil and gas industry are studied in a wide range of mode parameters. The mathematic dependences between quality parameters (shrinkage and hardness) of the details on casting temperature are specified.

On Approaches to Taking into Account the Risks of Changing Climatic Conditions when Planning and Implementing Oil and Gas Projects

2021 ◽  
Vol 18 (1) ◽  
pp. 52-65
Author(s):  
P. N. Mikheev
Keyword(s):  
Climate Change ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Climatic Conditions ◽  
Qualitative Assessment ◽  
Physical Factors ◽  
Gas Industry ◽  
Climate Risks ◽  
The Impact

The article discusses issues related to the impact of climate change on the objects of the oil and gas industry. The main trends in climate change on a global and regional (on the territory of Russian Federation) scale are outlined. Possible approaches to the identification and assessment of climate risks are discussed. The role of climatic risks as physical factors at various stages of development and implementation of oil and gas projects is shown. Based on the example of oil and gas facilities in the Tomsk region, a qualitative assessment of the level of potential risk from a weather and climatic perspective is given. Approaches to creating a risk management and adaptation system to climate change are presented.

scholarly journals Empirical analysis of inbound open innovation and SMEs performance: Evidence from oil and gas industry

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Yusuf O. Akinwale
Keyword(s):  
Financial Performance ◽  
Open Innovation ◽  
Measurement Errors ◽  
Structural Equation ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Petroleum Sector ◽  
External Actors ◽  
The Relationship

Background: This article contributes to existing literature by examining the relationship between inbound open innovation and firms’ financial performance in the Nigerian oil and gas industry. Aim: This article seeks to identify the factors of inbound open innovation and whether these factors influence the financial performance of small and medium-sized enterprises (SMEs) in the Nigerian oil and gas industry. Setting: This article examines 150 indigenous oil and gas SMEs in the upstream subsector of the Nigerian petroleum sector through a survey, using a questionnaire, conducted in 2015. Methods: The study applied the structural equation modelling (SEM) method. This method is used to test the relationships between the factors and to calculate the measurement errors in the hypotheses formulated. Results: The results show that technology scouting, vertical technology collaboration (VTC) and horizontal technology collaboration (HTC) positively and significantly contribute to inbound open innovation, which are thus significant in influencing the financial performance of SMEs. The size of technical staff and research and development (R&D) fund allocations also have a positive and significant correlation with the SMEs’ financial performance. Meanwhile, the age of SMEs is negative and not significant in influencing financial performance. Conclusion: The results suggest that inbound open innovation through scouting, HTC and VTC should therefore be encouraged among SMEs to boost their internal capabilities, which have hitherto enhanced their financial performance. The management members of each SME should continually consider collaboration with the external actors because they cannot singularly possess all the innovative skills required in the industry. Also, each firm should commit itself to allocate more funds to R&D and at the same time should hire those who have relevant production skills and train the existing ones in their firms.

scholarly journals How Oil Contracts Affect Human Rights

2018 ◽  
Vol 3 (4) ◽  
pp. 30
Author(s):  
Maria João Mimoso ◽  
Clara da Conceição de Sousa Alves ◽  
Diogo Filipe Dias Gonçalves
Keyword(s):  
Human Rights ◽  
Oil And Gas ◽  
Social Issues ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Oil Companies ◽  
The Social ◽  
Oil Contracts ◽  
The 19Th Century ◽  
The Impact

Since the beginning of the 19th century, we have assisted major proliferation of the oil and gas industry. This phenomenon of exponential growth is due to the fact that oil companies hold the world’s oil monopoly on the extraction, processing and commercialization. Therefore, as being one of the most influential sectors in the world, is crucial to strictly regulate how oil and gas contracts concerns the potential environmental and social impacts arising from the conduct of petroleum operations and how such behavior affects the human rights. As a matter of fact, the social issues field is an emerging area, and despite such importance, oil contracts do not often deal with them in great detail, corresponding to an actual emptiness of the human rights provisions. In terms of responsibly, oil companies, have an inalienable obligation to ensure that their actions do not violate human rights or contribute for their violation. This study aims to trace a detailed analysis of the impact of the oil and gas agreements in human rights. In order to fully comprehend the deep effects of this industry, we will examine, in detail, numerous of published oil and gas agreements, as well as, decode which are the real standards and practices accepted by this industry. We will use a deductive and speculative reasoning. We will try to demonstrate how incipient and short protection is given to human rights and what responsible conducts must urgently be developed.

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