scholarly journals Voluntary Disclosure and Market Valuation of Sustainability Reports in Korea: The Case of Chaebols

2019 ◽  
Vol 11 (13) ◽  
pp. 3577
Author(s):  
Dongheun Lee ◽  
Sejoong Lee ◽  
Na-Eun Cho
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Capital Market ◽  
Voluntary Disclosure ◽  
Firm Value ◽  
Effective Means ◽  
Sustainability Reports ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Positive Effect

This paper investigates whether chaebol firms tend to issue corporate social responsibility (CSR) reports more than non-chaebol firms. Based on previous studies documenting chaebols’ tunneling activities at the expense of other shareholders, we anticipate that chaebol firms are more likely to voluntarily disclose their CSR reports even if investors may discount their values because CSR disclosure is an effective means of window dressing. The empirical results support our expectations. We find that chaebol firms are more likely to disclose CSR reports and a chaebol firm’s CSR report disclosure is less evaluated than a non-chaebol firm in the capital market. The result indicates that even if CSR report disclosure may have positive effect on firm value in general, investors may discount the value of chaebol firms’ CSR reports.

scholarly journals PENGARUH GOOD CORPORATE GOVERNANCE DAN PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN

2019 ◽  
Vol 2 (2) ◽  
pp. 21 ◽  
Author(s):  
Leni Yuliyanti
Keyword(s):  
Corporate Governance ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Sampling Technique ◽  
Significant Positive Effect ◽  
Good Corporate Governance ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Positive Effect

The objective  of  this  research was to discover  the  effects  of  Good Corporate Governance(CGC)  and  Corporate  Social  Responsibility  (CSR)  disclosure  on  firm  value.  This  studyemployed a descriptive-verifying method. The population in this study was the companies listedin  the  IICGP ranking,  selected  through  purposive  sampling  technique.  The  data  collectiontechnique  utilized  documentation  study  with  descriptive  analysis  technique  and  classicalassumption tests;  F test  and t  test.  The results  of  the study demonstrated that  GCG gavesignificant positive effect on firm value, CSR disclosure gave significant positive effect on firmvalue, as well as GCG and CSR disclosure gave significant positive effect on firm value.

Comparative analysis of QISMUT+3’s Islamic corporate social responsibility

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Agung Nur Probohudono ◽  
Astri Nugraheni ◽  
An Nurrahmawati
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Statistical Testing ◽  
Content Type ◽  
Islamic Bank ◽  
Csr Disclosure ◽  
Corporate Social ◽  
The Impact ◽  
Positive Effect

Purpose The purpose of this study is to analyze the impact of corporate social responsibility (CSR) disclosure on the financial performance of Islamic banks across nine countries as major markets that contribute to international Islamic bank assets (Indonesia, Malaysia, Saudi Arabia, UAE, Kuwait, Qatar, Turkey, Bahrain and Pakistan or further will be called QISMUT + 3 countries). Design/methodology/approach Islamic Social Reporting Disclosure Index (ISRDI) is being used as a benchmark for Islamic bank CSR performance that contains a compilation of CSR standard items specified by the Accounting and Auditing Organization for Islamic Financial Institutions. The secondary data is collected from the respective bank’s annual reports and it used the regression analysis techniques for statistical testing. Findings This study found that CSR disclosure measured by ISRDI has a positive effect on financial performance. Almost all ISRDI sub-major categories have a positive effect on financial performance except the “environment” subcategory. The highest major subcategory for ISRDI is the “corporate governance” category (82%) and the “environment” category (13%) is the lowest. For the UAE, Kuwait and Turkey, the ISRDI is positively affected by financial performance and the other countries on this research are not. Originality/value This study highlighted the economic benefits of social responsibility practices as a part of business ethics in nine countries that uphold the value of religiosity. Thus, the development of the results of this research for subsequent research is very wide open.

scholarly journals Pengaruh Corporate Social Responsibility (CSR) Pada Market Value Added (MVA) Perusahaan Manufaktur Dan Pertambangan

2016 ◽  
Vol 6 (2) ◽  
Author(s):  
Rezi Setin Novian ◽  
Santi Novita
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Information Disclosure ◽  
Value Added ◽  
Market Value ◽  
Social Aspects ◽  
Market Value Added ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Positive Effect

Along with the increase of information disclosure needs by stakeholder, the companies are not only demanded to be responsible for merely economic aspect but also environmental and social aspects. The objective of this research to provide the evidence of the effect of Corporate Social Responsibility (CSR) disclosure to the companies performance using Market Value Added (MVA). The research is using manufacturing and mining companies that listed in Bursa Efek Indonesia (BEI) from the year 2007 to 2011 as samples. The hypothesis was tested using t test and the result of this study is Corporate Social Responsibility (CSR) has positive effect on Market Value Added (MVA).

scholarly journals PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY (CSR) SEBAGAI VARIABEL PEMODERASI Studi Empiris Pada Perusahaan Pertambangan yang Terdaftar di Jakarta Islamic Index Periode 2010 - 2017

2018 ◽  
Vol 7 (2) ◽  
Author(s):  
Wahyuni Wahyuni ◽  
I Nyoman Nugraha A P ◽  
Siti Aisyah Hidayati
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Positive Influence ◽  
Test Method ◽  
Purposive Sampling ◽  
Company Value ◽  
Analysis Technique ◽  
Csr Disclosure ◽  
Corporate Social

This study aims to analyze how the influence of profitability on company value and how the influence of profitability on company value with CSR disclosure as a moderating variable. With the purposive sampling method, there are four samples of mining sector companies listed in the Jakarta Islamic Index for the period 2010-2017. Data is processed using SPSS version 23. The analysis technique in this study uses simple linear regression and Moderated Regression Analysis (MRA). MRA is used in this study to analyze CSR Disclosure as a variable that moderates the effect of the independent variable Profitability on the dependent variable Company Value.The result of the research which has been done by using multiple linear regressions shows that profitability has significant and positive influence to the firm value. Meanwhile, the analysis of moderating variable with the interaction test method of MRA shows that the disclosure of corporate social responsibility does not moderate the influence of profitability on the firm value.Penelitian ini bertujuan untuk menganalisis bagaimana pengaruh profitabilitas terhadap nilai perusahaan dan bagaimana pengaruh profitabilitas terhadap nilai perusahaan dengan pengungkapan CSR sebagai variabel pemoderasi. Dengan metode purposive sampling, didapatkan empat sampel perusahaan sektor pertambangan yang terdaftar di Jakarta Islamic Index periode 2010 – 2017.  Data diolah menggunakan SPSS versi 23. Teknik analisis dalam penelitian ini menggunakan regresi linier dan Moderated Regresion Analisys (MRA). MRA digunakan di dalam penelitian ini untuk menganalisis Pengungkapan CSR sebagai variabel yang memoderasi pengaruh antara variabel independen Profitabilitas pada variabel dependen Nilai Perusahaan. Hasil penelitian dengan regresi linear berganda menunjukkan bahwa profitabilitas berpengaruh positif dan signifikan terhadap nilai perusahaan. Sedangkan analisis variabel moderating dengan metode uji interaksi MRA menunjukkan bahwa pengungkapan corporate social responsibility tidak memoderasi pengaruh profitabilitas pada nilai perusahaanKeywords:Profitabilitas, ROA, Nilai Perusahaan, Tobin’s Q, Pengungkapan CSR

scholarly journals PERAN INVESTMENT OPPORTUNITY SET SEBAGAI PEMODERASI PENGARUH KINERJA KEUANGAN, GOODCORPORATE GOVERNANCE DAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN

2019 ◽  
Vol 4 (2) ◽  
pp. 85
Author(s):  
Michael Anderson Sianipar ◽  
Susi Dwi Mulyani
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Good Governance ◽  
Stock Exchange ◽  
Investment Opportunity ◽  
Good Corporate Governance ◽  
Investment Opportunity Set ◽  
Corporate Social ◽  
Positive Effect

<em>Firm Values of manufacturing company in Indonesia is influenced by various factors of financial and non-financial that can be measured using financial ratios, good governance, and social responsibility practices in the company. The purpose of this study was to analyze the effect of financial performance proxied by Profitability and Solvability, Good Corporate Governance (GCG), and Corporate Social Responsibility (CSR) on the firm value,with Investment Opportunity set (IOS) as a moderating variable. The firm value in this study was proxied by Tobins’q.The population of this research is manufacturing companywith chemical industry subsectors listed in the Indonesia Stock Exchange (BEI) in 2013-2015. The sampling method used is purposive sampling and acquired 31 companies in this sample. The analytical method used is moderating regression analysis.Based on the results of hypotheses testing, there wasSolvability and IOS had positive effect on firm value, while Profitability, GCG, and CSR had no effect on the firm value. The use of a moderating variable Investment Opportunity Set (IOS) is not able to strengthen the influence of profitability, solvability, GCG and CSR on the firm value.</em>

scholarly journals Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms

2021 ◽  
Vol 13 (22) ◽  
pp. 12933
Author(s):  
Cao Thi Mien Thuy ◽  
Nguyen Vinh Khuong ◽  
Nguyen Thanh Liem
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Voluntary Disclosure ◽  
Emerging Market ◽  
Listed Companies ◽  
Policy Implications ◽  
Firm Risk ◽  
Research Perspective ◽  
Csr Disclosure ◽  
Corporate Social

The purpose of the study was to gather empirical evidence on the influence of corporate social responsibility (CSR) disclosure on firm risk of Vietnam’s publicly listed companies. We used adjusted OLS estimation and regression analysis with adjusted panel data for heteroskedasticity and/or autocorrelation to analyze the correlation using data from 225 listed companies on Vietnam’s stock market from 2014 to 2019. The study’s sample period is relatively recent in the emerging market, especially considering regulatory differences and the availability of voluntary disclosure requirements. The findings of research on the relationship between CSR and corporate risk are mixed, particularly in developing markets. Research findings reveal a negative and significant association between CSR and firm risk, implying that stronger CSR performance lowers a company’s risk. This aims to strengthen a research perspective of this connection in emerging countries. Following that, we discuss some policy implications for listed firms and regulators in CSR disclosure.

The Determinants of Sustainability Reporting of the Portuguese Public Sector Entities

2019 ◽  
pp. 653-678
Author(s):  
Maria da Conceição C. Tavares ◽  
Lúcia Lima Rodrigues
Keyword(s):  
Corporate Social Responsibility ◽  
Content Analysis ◽  
Public Sector ◽  
Social Responsibility ◽  
Sustainability Reporting ◽  
Global Reporting Initiative ◽  
Sustainability Disclosure ◽  
Sustainability Reports ◽  
Csr Disclosure ◽  
Corporate Social

Based on legitimacy and on stakeholder theories, this study analyses the level of disclosure of Corporate Social Responsibility (CSR) in the sustainability reports of the Portuguese public sector entities for the years 2008 and 2012, prepared in accordance with the guidelines of the Global Reporting Initiative (GRI). The authors also aim to determine the factors that influence this level of disclosure. Using content analysis, an index of CSR disclosure was constructed based on the sustainability reports of 58 public sector entities. It was concluded that the level of sustainability disclosure is related to the organisation's size, industry, awards and certifications received, and visibility measured in terms of consumer proximity. This study offers new empirical evidence of a different context – public sector entities in Portugal, providing valuable insights into the factors that explain CSR disclosures in public sector entities.

Who can realize the “spot value” of corporate social responsibility?

2020 ◽  
Vol 11 (4) ◽  
pp. 717-743
Author(s):  
Shiyu Wang ◽  
Yan Zhang ◽  
Guanzhen Wang ◽  
Zhibin Chen
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Voluntary Disclosure ◽  
Abnormal Returns ◽  
Chinese Stock Market ◽  
Chinese Market ◽  
Content Type ◽  
Retail Investors ◽  
Csr Disclosure ◽  
Corporate Social

Purpose This paper answers, in the Chinese stock market, who can realize the “spot value” of corporate social responsibility (CSR). Design/methodology/approach The authors use event-study to build the research framework. Using CSR report content analysis, the authors measure the specification level of CSR disclosure. Applying the Baidu index, the authors mine Chinese investors’ profiles data to investigate retail investor heterogeneity closely. Findings The authors find strong evidence that the measure captures a behavioral bias in CSR pricing: firms that choose to disclose CSR report experience positive abnormal return more among retail investors than institutional investors, more among young investors than older, but no difference between female and male investors. Practical implications For Chinese public firms, the authors give them evidence that they can realize positive abnormal returns by applying certain CSR disclosure strategies. For Chinese investors, especially retail investors and youths, the authors ask them to rethink whether their positive evaluation of CSR is a rational trade-off choice or whether they are fooled by the “hedging mask” and “attention-grabbing.” Social implications The findings can give some suggestions to regulators: encouraging voluntary disclosure and reducing mandatory disclosure can drive enterprises to engage in more CSR activities because the voluntarily CSR disclosure can realize both long-term value and “spot value.” Complementarily, a more rigorous CSR report auditing regulation can suppress the “greenwash” by increasing the “lying cost.” Originality/value Using behavioral finance theory, the authors connect the gap between neoclassical research on the “U-shaped” value realization of CSR and the increasing voluntary CSR disclosure in the Chinese market. The authors find that heuristic reason and emotionality orientation results in the Chinese “CSR-friendly” market.

scholarly journals FAKTOR YANG MEMPENGARUHI PENGUNGKAPAN CSR, SEBUAH STUDY EMPIRIS PERUSAHAAN MANUFAKTUR

2020 ◽  
Vol 25 (2) ◽  
pp. 59-73
Author(s):  
Kurnia Putri ◽  
Fitra Dharma ◽  
Dewi Sukmasari
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Stock Exchange ◽  
Media Exposure ◽  
Foreign Ownership ◽  
Manufacturing Companies ◽  
Analysis Technique ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Positive Effect

This studi aims to determine the effect of Board of Commissioners, Profitability, Media Exposure, and Foreign Ownership on CSR disclosure. Population used in this study are manufacturing companies listed on the Indonesia Stock Exchange from 2016-2018, and the samples obtained has 411 observation selected using purposive sampling method in order to obtain samples accordance with the research objectives. Analysis technique used is multiple regression. The result shows that Board of Commissioners, Media Exposure, and Foreign Ownership has a significant positive effect on the Disclosure of Corporate Social Responsibility. While Profitability dosen not affect the Disclosure of Corporate Social Responsibility.

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