THE ECONOMICS OF CORPORATE SOCIAL RESPONSIBILITY: A FIRM-LEVEL PERSPECTIVE SURVEY

2014 ◽  
Vol 29 (1) ◽  
pp. 112-130 ◽  
Author(s):  
Patricia Crifo ◽  
Vanina D. Forget
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Level ◽  
Corporate Social

Impact of corporate social responsibility intensity on firm-specific risk and innovation: evidence from Japan

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Megumi Suto ◽  
Hitoshi Takehara
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Research And Development ◽  
Manufacturing Industry ◽  
Corporate Sustainability ◽  
Idiosyncratic Risk ◽  
Firm Level ◽  
Content Type ◽  
Specific Risk ◽  
Corporate Social

Purpose The purpose of this paper is to investigate investors’ perception of corporate social responsibility (CSR) and its risk-mitigating effects on firm-level innovation in Japan from 2006 to 2017. The authors examine the influence of CSR intensity on firm-specific risks, focusing on the risk-moderating effect of CSR on innovation. Design/methodology/approach The authors conducted a simple slope analysis and panel data regressions with input and output innovation measures and idiosyncratic risk based on an asset-pricing model. Findings The results demonstrate that CSR intensity not only reduces firm-specific risk directly but also indirectly by negatively moderating the relationship between firm-level innovation and idiosyncratic risk. Research limitations/implications Signaling trust to capital markets, CSR engagements in the manufacturing industry are clearly important for innovative firms with active research and development undertakings. Practical implications Corporate managers should further expand their efforts to make non-financial disclosures available, considering the interactions between CSR intensity and research and development financial risk. Originality/value In the context of Japanese firms, this study demonstrates the interaction between CSR practices and innovation activities from the perspective of long-term management of corporate sustainability.

HIGH CORPORATE SOCIAL RESPONSIBILITY BUT LOW CORPORATE MATERNITY RESPONSIBILITY: KOREAN EVIDENCE

2020 ◽  
pp. 1-21
Author(s):  
HANNA JUNG ◽  
JOONMO CHO
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Issues ◽  
Parental Leave ◽  
Firm Level ◽  
Governance Indicators ◽  
Good Corporate Governance ◽  
Level Data ◽  
Corporate Social ◽  
Korean Firm

This study analyzes the association between corporate social responsibility (CSR) activities and maternity protection using Korean firm-level data. The result shows that companies with good CSR evaluation is negatively related to reinstatement rate after parental leave. It was also revealed that industries with low relevance to female workers or consumer issues and firms with good corporate governance indicators is negatively related to maternity protection. Firms are attracted to external social issues, rather than internal labor standards, such as parental leave. This study examined various causes that lead to these results.

Corporate Social Responsibility and Sustainable Finance

2021 ◽  
Author(s):  
Hao Liang ◽  
Luc Renneboog
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Corporate Management ◽  
Socially Responsible ◽  
Firm Level ◽  
Investment Projects ◽  
Portfolio Decisions ◽  
Rating Agencies ◽  
Proxy Voting ◽  
Corporate Social

Corporate social responsibility (CSR) refers to the incorporation of environmental, social, and governance (ESG) considerations into corporate management, financial decision-making, and investors’ portfolio decisions. Socially responsible firms are expected to internalize the externalities they create (e.g., pollution) and be accountable to shareholders and other stakeholders (employees, customers, suppliers, local communities, etc.). Rating agencies have developed firm-level measures of ESG performance that are widely used in the literature. However, these ratings show inconsistencies that result from the rating agencies’ preferences, weights of the constituting factors, and rating methodology. CSR also deals with sustainable, responsible, and impact investing. The return implications of investing in the stocks of socially responsible firms include the search for an EGS factor and the performance of SRI funds. SRI funds apply negative screening (exclusion of “sin” industries), positive screening, and activism through engagement or proxy voting. In this context, one wonders whether responsible investors are willing to trade off financial returns with a “moral” dividend (the return given up in exchange for an increase in utility driven by the knowledge that an investment is ethical). Related to the analysis of externalities and the ethical dimension of corporate decisions is the literature on green financing (the financing of environmentally friendly investment projects by means of green bonds) and on how to foster economic decarbonization as climate change affects financial markets and investor behavior.

scholarly journals How executive turnover influences the quality of corporate social responsibility disclosure? Moderating role of political embeddedness: evidence from China

2021 ◽  
Author(s):  
Fawad Rauf ◽  
Cosmina L. Voinea ◽  
Nadine Roijakkers ◽  
Khwaja Naveed ◽  
Hammad Bin Azam Hashmi ◽  
...  
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Executive Turnover ◽  
Firm Level ◽  
Corporate Social Responsibility Disclosure ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship

AbstractThis study investigated the relationship between executive turnover (ET) and quality of corporate social responsibility disclosure (CSRD) at the firm level. The role of political embeddedness (PE) in the association between ET and CSRD quality in Chinese listed A-share firms is also inspected. We employed 20,850 firm’s/year observations between 2010 and 2016. An inverse relationship was found between ET and CSRD quality as well as PE and CSRD quality. In addition, the study findings disclose that corporate PE moderates the relationship between ET and a firm’s CSRD quality whilst the impact of ET on a company's CSRD quality was found more pronounced for firms with a low level of corporate PE. This examination adds to the literature on CSRD quality under the premise of normative stakeholder theory and leads to the conclusion that the political link of departing executives is an active participant in the exacerbation of CSRD quality in PE firms of China. This implies a reinvigoration of the roles of decision-makers for sustainable CSR assurance.

scholarly journals A link between top managers’ perception and corporate social responsibility

2019 ◽  
Vol 9 (1) ◽  
pp. 01-14
Author(s):  
Milkiyas Ayele Tefera ◽  
He Yuanqiong ◽  
Liu Luming
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Hierarchical Regression ◽  
Firm Level ◽  
Top Managers ◽  
The People ◽  
Executive Managers ◽  
Corporate Social ◽  
The Impact

Though it is called corporate social responsibility (CSR), it is the people in the organization particularly, top managers who develop and get implemented corporate social policies. Organization behavior is the reflection of their top managers. However, exploration of the role of top managers in spreading CSR in the organization is scant in the literature. The purpose of this paper is to explore the impact of top managers’ CSR perceptions on firm-level CSR in Ethiopia. Structured questionnaires were used to collect data from 294 executive managers of four sectors, namely textile, food, bank, and floriculture industries. Multiple hierarchical regression and process macro 3.3 were employed to analyze the data with the aid of SPSS. The analysis reveals that top managers’ CSR perception is a significant predictor of firm-level CSR behaviors. The result also shows that corporate ethical culture fully mediates the relationship between top managers’ CSR perception and organization CSR. Moreover, transformational leadership has a moderating effect between the direct top managers’ CSR perception and firm-level CSR relationship.

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