A Broader Perspective on Corporate Social Responsibility Research in Accounting

Moser, Donald V.; Martin, Patrick R.

doi:10.2308/accr-10257

Cited by 396 publications

(223 citation statements)

References 35 publications

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“…Generally, there are two perspectives scholars have considered on CSR. The first perspective argues that companies should engage in CSR only when doing so maximizes shareholder value (or when the benefit outweighs its related cost) and the other perspective states that companies might also make investments that benefit society even when doing so decreases shareholder value [1]. However, existing theory and empirical studies find inconsistent evidence on the relation between CSR and the value of firms.…”

Section: Introductionmentioning

confidence: 99%

CSR Performance, Financial Reporting, and Investors’ Perception on Financial Reporting

Timbate

Park

2018

Sustainability

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This study examines whether socially responsible firms behave differently from other firms in their financial reporting. Specifically, we question whether firms that are better in their corporate social responsibility (CSR) performance also behave in a responsible manner to maintain their financial reporting quality and whether the market rewards such responsible behaviors. Using data from S&P 500 US companies, we find that socially responsible firms are less likely to manage their earnings. However, we fail to find significant relationships between CSR and investors' perceptions on earnings, measured by stock returns and earnings response coefficient. We interpret the results as investors not fully reflecting the benefits from CSR performance. Our findings are consistent with the notion that CSR activities are motivated by managers' ethical incentives to serve the interests of stakeholders.

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Section: Introductionmentioning

confidence: 99%

CSR Performance, Financial Reporting, and Investors’ Perception on Financial Reporting

Timbate

Park

2018

Sustainability

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“…The main findings of the empirical literature review are summarised in Table 1. As Table 1 shows, some studies identify a positive relationship between CSR and CFP, suggesting that being socially responsible improves profitability. If CSR has a positive effect on CFP, it is also likely that socially responsible investments have a positive rather than a negative effect on shareholder value (Moser & Martin, 2012), meaning that CSR is also favourable for the shareholders.…”

Section: Empirical Evidence On the Csr-cfp Relationshipmentioning

confidence: 99%

“…However, the negative link between CSR and CFP does not imply the complete abandonment of socially responsible corporate action. Many managers believe it is important to be good corporate citizens even when doing so is at the expense of shareholders (Moser & Martin, 2012). In addition, shareholders can also be ethical and may require CSR action even at the cost of reduced financial performance (Mackey, Mackey, & Barney, 2007).…”

Section: Empirical Evidence On the Csr-cfp Relationshipmentioning

confidence: 99%

Corporate social responsibility and financial performance relationship: a review of measurement approaches

Galant

Čadež

2017

Economic Research-Ekonomska Istraživanja

305

231

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The relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) has been subject to extensive empirical enquiry. Yet the body of evidence that has accumulated about the nature of the relationship is equivocal. A commonly identified reason for the diverse and contradictory results is measurement issues pertaining to both concepts of interest. This article aims to review alternative operationalisations and measurement approaches for the CSR and CFP concepts that have been deployed in empirical literature concerned with the CSR-CFP relationship. Several findings emanate from our study. First, CSR operationalisations in empirical literature range from multidimensional to one-dimensional. Second, CSR measurement approaches include reputation indices, content analyses, questionnaire-based surveys and one-dimensional measures, whereas CFP measurement approaches include accounting-based measures, market-based measures and combined measures. Third, no CSR measurement approach is without drawbacks. In addition to approach specific drawbacks, two problems inherent in most approaches are researcher subjectivity and selection bias that may influence the nature of CSR-CFP relationship detected in empirical literature. Finally, potential pathways to remedy these drawbacks are suggested.

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“…In neoclassical economics' view, CSR initiatives are essentially an added cost to a firm (Dhaliwal et al, 2011).Opportunistic managers may direct a firm's resources towards unprofitable CSR activities (Brammer & Millington, 2008). Agency costs arise when individual managers have preferences for societal benefit but at the expenses of owners (Moser & Martin, 2012). Board monitoring represents a disciplining force within firms.…”

Section: Asian Journal Of Finance and Accountingmentioning

confidence: 99%

“…First, the economic consequences of CSP have been studied extensively. There is little evidence on drivers of CSP (Moser & Martin, 2012). We add to the literature by studying the effects of board supervisions on CSP.…”

Section: Introductionmentioning

confidence: 99%

Does Board Supervisory Quality Enhance Corporate Social Performance?-Evidence from Taiwanese Listed Firms

Yeh

Hsieh²

2017

AJFA

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This study uses Taiwanese public firms as a sample to examine if board supervisory quality enhances CSP. The present study uses four proxies for supervisory quality of board at group level: board meeting attendance rate, number of board meetings, social capital of the board and average training hours of directors. We obtain 348 CSR data from an international CSR rating agent and match them with double size non-CSR firms. We find that CSR firms exhibit ISSN 1946-052X 2017 ajfa.macrothink.org 69 significantly higher board attendance rate, board meeting frequency and board social capital than non-CSR firms. For CSR firms, board attendance rate and board meeting frequency positively impact CSR ratings, implying that board diligence is essential to monitoring management to achieve higher social objectives. However, board social capital and training significantly but negatively impact CSP, implying busy board and inexperienced board detriments CSP. Asian Journal of Finance & AccountingBoard success in CSR means directors must be passionate about the issues on CSR. Additionally, firms that are behind social agenda need to recruit resourceful directors to diversify information base for advises about stakeholder issues and trends. Firms that have taken steps in CSR activities should not recruit overly busy directors or inexperienced directors. Our paper provides both theoretical and practical implications.

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A Broader Perspective on Corporate Social Responsibility Research in Accounting

Cited by 396 publications

References 35 publications

CSR Performance, Financial Reporting, and Investors’ Perception on Financial Reporting

CSR Performance, Financial Reporting, and Investors’ Perception on Financial Reporting

Corporate social responsibility and financial performance relationship: a review of measurement approaches

Does Board Supervisory Quality Enhance Corporate Social Performance?-Evidence from Taiwanese Listed Firms

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