Stock Market and Corporate Social Responsibility: A Long-Run Analysis of the Major Industrial Crises

2012 ◽  
Author(s):  
Cécile Carpentier ◽  
Jean-Marc Suret
Keyword(s):  
Corporate Social Responsibility ◽  
Stock Market ◽  
Social Responsibility ◽  
Long Run ◽  
Corporate Social

Corporate social responsibility, visibility, reputation and financial performance: empirical analysis on the moderating and mediating variables from Korea

2017 ◽  
Vol 13 (4) ◽  
pp. 856-871 ◽  
Author(s):  
SeHyun Park
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Least Square ◽  
Mediating Effect ◽  
Financial Benefit ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
Corporate Social

Purpose This paper aims to substantiate the mechanism through which corporate social responsibility (CSR) affects financial performance (FP). Specifically, this paper focuses on the moderating effect of visibility and mediating effect of reputation in the relationship. Design/methodology/approach This paper investigates 175 Korean firms from 2010 to 2012 that have been listed in the Korean Economic Justice Index for all three years. The hypotheses are tested using various measures of visibility and the Korea’s Most Admired Company index as proxy for reputation. The logistics regression and the ordinary least square are used. Findings This paper initially demonstrates that the visibility moderates the correlation between CSR and reputation. On this finding, it further proves that CSR has positive effect on the long-run FP, measured in the Tobin’s Q, both directly and indirectly through reputation. However, the influence is irrelevant in the short run. In sum, visibility moderates the correlation between CSR and reputation, which mediates the CSR-FP relationship in the long run. Practical implications This paper argues for the importance of visibility in practicing CSR, especially when reputation building and financial benefit is sought through CSR. Originality/value Despite its strategic importance, the visibility of CSR has not been sufficiently studied. Moreover, as scholars have recently suggested that the CSR–FP relationship is rather indirect, there is even more significance in investigating the moderating and mediating variable. Hence, with the intuitive results, this paper lays an integral foundation in the literature.

scholarly journals The relationship between customer satisfaction, social responsibility, and long-run financial performance

2012 ◽  
Vol 8 (2) ◽  
Author(s):  
Yi-Chen Wang ◽  
Ben-Piet Venter ◽  
Chia-Hsing Huang
Keyword(s):  
Corporate Social Responsibility ◽  
Customer Satisfaction ◽  
Social Responsibility ◽  
Financial Performance ◽  
Dynamic Panel Data ◽  
International Studies ◽  
Linear Regression Models ◽  
Satisfaction Index ◽  
Long Run ◽  
Corporate Social

This paper investigates the link between long-run corporate financial performance, corporate social responsibility, and customer satisfaction. Using annual financial data, customer satisfaction index, and the Dow Jones Sustainability Index, the paper seeks to establish whether it pays organizations to use ethical methods in striving to be sustainable. Data used for this research cover the period 2001 to 2008. We used dynamic panel data linear regression models to analyze the effect of customer satisfaction and social responsibility on short-run and long-run financial performance. It was found that it may benefit organizations to use ethical methods in pursuing sustainability. since organizations who invest time, money, and effort in corporate social responsibility activities, their good reputations and satisfied customers yield long-term cash flow growth.Keywords: corporate customer satisfaction, Corporate Social Responsibility, corporate financial performanceDisciplinesL business studies, international studies, ethics, finance studies

scholarly journals Who Values Corporate Social Responsibility in the Korean Stock Market?

2019 ◽  
Vol 11 (21) ◽  
pp. 5924 ◽  
Author(s):  
Sangki Lee ◽  
Insu Kim ◽  
Chung-hun Hong
Keyword(s):  
Corporate Social Responsibility ◽  
Stock Market ◽  
Social Responsibility ◽  
Private Sector ◽  
Abnormal Returns ◽  
Pension Funds ◽  
Public Pension ◽  
Korean Stock Market ◽  
The Government ◽  
Corporate Social

In this study, we explore the stock market’s response to new information that a firm has been included in the Dow Jones Sustainability Index (DJSI) in Korea. In addition, we investigate which investor group contributes to the changes, if any significant increase in returns is found, after a firm’s incorporation into the DJSI. This study aims to identify which investors value corporate social responsibility (CSR) in the Korean stock market and examine whether the government-led campaigns for CSR have affected private sector investors, as well as those from the public sector. We find statistically significant abnormal returns for firms after their first listing in the index, implying that investors in Korean markets consider a firm’s inclusion in the DJSI as good news for the firm value. Using a unique dataset from the Korea Exchange (KRX) on investors, we classify investors into four groups: individual investors, public pension funds, other institutional investors, and foreign investors. Unlike prior studies that focus only on the existence of abnormal returns, we investigate the trading behavior of each investor group for such announcements. We find that it is mainly the buying pressure of public pension funds that generates abnormal returns. By contrast, we cannot find statistically significant results for the other investor groups. This result implies that the government-led campaign for CSR has only had limited effects in the Korean stock market, and that awareness of CSR in the private sector should be improved.

scholarly journals The Effect of Corporate Social Responsibility (CSR) on Increasing the Competitiveness of Small and Medium Enterprises (SMEs) in OKU Timur, Indonesia

2020 ◽  
Vol 4 (03) ◽  
Author(s):  
Helisia Margahana
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Price Competition ◽  
Small And Medium Enterprises ◽  
Survey Method ◽  
Environmental Orientation ◽  
Long Run ◽  
The Government ◽  
Medium Enterprises ◽  
Corporate Social

The purpose of this study is to determine whether Corporate Social Responsibility (CSR) affects the Competitiveness of Small and Medium Enterprises (SMEs). The population in this study are consumers who use e- commerce media in the South Sumatra area. The sample in this study was 200 respondents who were random samples from the Small and Medium Enterprises in South Sumatra. This study uses a survey method to see the amount of influence caused by the independent variables on the dependent variable. The independent variable examined in this study is the Corporate Social Responsibility (CSR) variable. The dependent variable in this study is the Competitiveness of Small and Medium Enterprises (SMEs). Based on the results of the study it can be seen that Corporate Social Responsibility (CSR) affects the Competitiveness of Small and Medium Enterprises (SMEs). So it can be concluded that if a business or business follows the regulations of the government, runs it and implements it based on predetermined factors, including work orientation factors, market orientation factors, and environmental orientation factors, then the business will be better known by the stakeholders and will be more competitive in the long run. Therefore SMEs must continue to consult with the government regarding CSR activities, which factors of CSR are most beneficial for all parties in business activities. SMEs must also focus on factors of price competition and competitive advantage to improve the image of SMEs and enhance competitiveness. Corporate Social Responsibility (CSR), Competitiveness, SMEs

scholarly journals From Shareholder Value to Sustainability

2010 ◽  
Vol 25 (1) ◽  
Author(s):  
Sigurt Vitols
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Shareholder Value ◽  
Social Crisis ◽  
Long Run ◽  
Guiding Principles ◽  
Corporate Social

The current triple crisis we face, an ecological, financial and social crisis, clearly shows the limits to Corporate Social Responsibility and shareholder value as guiding principles for our companies. Comprehensive reforms are needed in order to reorient companies towards policies which are sustainable in the long run.

scholarly journals Long-Run Relationship of Corporate Social Responsibility and Cost of Capital of Quoted Companies in Nigeria Stock Exchange: Nigeria Evidence

2021 ◽  
Vol 9 (5) ◽  
pp. 946-960
Author(s):  
Ofogbe Nyore Sandra ◽  
Ojiakor Ijeama P. ◽  
Nnamani Chidiebere ◽  
Ifeoma Maria Ihegboro ◽  
Anisiuba Chika Anastesia ◽  
...  
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Cost Of Capital ◽  
Stock Exchange ◽  
Long Run ◽  
Corporate Social ◽  
Relationship Of

scholarly journals Corporate Social Responsibility Disclosure and Financial Performance: The Mediating Role of Financial Statement Comparability

2021 ◽  
Vol 13 (18) ◽  
pp. 10077
Author(s):  
Cao Thi Mien Thuy ◽  
Nguyen Vinh Khuong ◽  
Nguyen Thi Canh ◽  
Nguyen Thanh Liem
Keyword(s):  
Corporate Social Responsibility ◽  
Stock Market ◽  
Social Responsibility ◽  
Financial Performance ◽  
Financial Statement ◽  
Estimation Methods ◽  
Mediating Role ◽  
Csr Disclosure ◽  
Corporate Social

The aim of this study is to investigate the relationship between corporate social responsibility (CSR) disclosure and financial performance with the consideration of the mediating role of financial statement comparability (FSC) for a sample of Vietnamese listed firms. We used content analysis of the information related to the GRI Standards on annual reports in order to construct CSR disclosure score. We used a dataset of 1125 firm-year observations, covering 225 firms listed on Vietnam’s stock market in the period 2014–2018. Applying OLS and GMM estimation methods, Sobel test, and using different proxies of the mediator variable to increase the robustness, we obtained two remarkable conclusions. First, CSR disclosure has a positive impact on the financial performance of listed companies in Vietnam. Second, there is a complementary mediation effect of financial statement comparability in the above relationship. Our results suggest that it is necessary to develop a legal framework for the practice and disclosure of CSR as well as to apply the international accounting standards in the Vietnamese stock market.

scholarly journals Corporate social responsibility: opportunities, drivers and barries.

2013 ◽  
Vol 1 (1) ◽  
Author(s):  
Sasan Ghasemi ◽  
Mehran Nejati
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Business Professionals ◽  
Short Term ◽  
Long Run ◽  
Qualitative Research Methodology ◽  
Key Drivers ◽  
Emerging Themes ◽  
Corporate Social ◽  
Depth Interviews

The following study employed a qualitative research methodology in order to explore the views of Iranian business professionals about the opportunities, drivers and barriers of corporate social responsibility (CSR). Thirteen Iranian business professionals with 9.2 years of overall working experience participated in in-depth interviews. The study revealed that majority of interviewees consider CSR as a threat for Iranian businesses in the short-term, yet as an opportunity in long-run in case businesses are ready to transform and commit to their responsibilities. The findings also included the emerging themes for the key drivers and barriers of CSR from the interviewees’ perspectives.

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