Attitudes towards corporate social responsibility and perceived importance of social responsibility information characteristics in a decision context

Teoh, Hai Yap; Shiu, G. Y.

doi:10.1007/bf00382566

Cited by 106 publications

(61 citation statements)

References 8 publications

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“…This argument, in fact, is consistent with the results of Teoh and Shiu (1990), which showed that available data on corporate social responsibility in company reports have no impact on decisions of institutional investors. However, Teoh and Shiu found that these data have a positive and signifi cant infl uence if they are presented in a 'fi nancial form'.…”

Section: The Moderating Effect Of Corporate Financial Performance: Hysupporting

confidence: 91%

Exploring the moderating effect of financial performance on the relationship between corporate environmental responsibility and institutional investors: some Egyptian evidence

Wahba

2008

Corp Soc Responsibility Env

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Much of the existing literature has argued that those fi rms that invest in environmental initiatives attract more institutional investors. A noticeable problem with these studies is the assumption that the relationship between institutional investors and corporate environmental responsibility is a monotonic relationship that does not vary with fi rm fi nancial performance. Initial fi ndings of this study demonstrated that corporate environmental responsibility exerted a positive and signifi cant coeffi cient on institutional ownership. However, when an interaction term between environmental responsibility and fi nancial performance was included, the results verifi ed that corporate environmental responsibility has a neutral impact on the preferences of institutional investors. Moreover, by classifying fi rms into two sub-groups, according to their fi nancial performance, environmental responsibility was found to have a positive and signifi cant impact on institutional ownership only when fi nancial performance is high.

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Section: The Moderating Effect Of Corporate Financial Performance: Hysupporting

confidence: 91%

Exploring the moderating effect of financial performance on the relationship between corporate environmental responsibility and institutional investors: some Egyptian evidence

Wahba

2008

Corp Soc Responsibility Env

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“…Except for the founding families, the main shareholders are large and institutional investors in both outsider and insider systems, suggesting a positive relationship between institutional ownership and CSR [123][124][125]. From a corporate point of view, considering that the integrated environmental, social and governance issues are part of mainstream investment analyses, communication to financial markets should explain these issues as part of corporate strategy with a focus on the long-term perspective [118].…”

Section: The Governance Of Sustainabilitymentioning

confidence: 99%

Sustainability and Convergence: The Future of Corporate Governance Systems?

2016

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In today's world, a sustainable approach to corporate governance can be a source of competitive advantage and a long-term success factor for any firm. Sustainable governance requires that the board of directors considers economic, social and environmental expectations in an integrated way, no matter what ownership structure and formal rules of corporate governance apply to the company: this mitigates the traditional differences between insider and outsider systems of corporate governance. Previous studies failed to consider the contribution of sustainability in the process of corporate governance convergence. Therefore, the aim of this article is to fill the gap in the existing literature by means of a qualitative analysis, supporting the international debate about convergence of corporate governance systems. The article describes the evolution of outsider and insider systems in the light of the increasing importance of sustainability in the board's decision-making and firm's operation to satisfy the needs of all the company's stakeholders. According to this, a qualitative content analysis developed with a directed approach completes the theoretical discussion, demonstrating that sustainability can bring de facto convergence between outsider and insider corporate governance systems. The article aims to be a theoretical starting point for future research, the findings of which could also have practical implications: the study encourages the policy makers to translate the sustainable business best practices into laws and recommendations, strengthening the mutual influence between formal and substantial convergence.

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“…In academic circles, extensive research efforts have been undertaken to assess the empirical association between CSR and corporate financial performance (CFP) in diverse geographical contexts (Cochran and Wood, 1984;Teoh and Shiu, 1990;McWilliams and Siegel, 2000;Lev et al, 2010;Choi et al, 2010, and etcetera). Despite all the supporters saying that CSR is a way for a company to improve its reputation among customers, employees, and shareholders (Lev et al, 2006) or legitimize its actions (Berrone and Gomez-Mejia, 2006), more than thirty years of research in the management literature exploring the link between CSR and CFP have yet to reach a broad consensus Walsh, 2001, 2003;McWilliams et al, 2006;Orlitzky et al, 2003).…”

Section: ⅰ Introductionmentioning

confidence: 99%

Corporate Social Responsibility and Financial Constraints: Evidence from Korean Firms

Kwak¹,

Bong²

2015

Glob Bus Financ Rev

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A B S T R A C TThis paper examines the relationship between corporate social responsibility (CSR) and corporate financial constraints by using a sample 1,584 firm-years of Korea during 2002-2011. We measure corporate social responsibility by both an equal-weighted CSR index and a stakeholder-weighted CSR index suggested by Akpinar et al.(2008) and Choi et al.(2010). Corporate financial constraints are measured by KZ index suggested by Kaplan and Zingales(1997). We find a negative and significant relationship between corporate financial constraints and the stakeholder-weighted CSR index, but not the equal-weighted CSR index. This finding implies that only CSR strategies with which stakeholders are prioritized can provide a positive impact upon the firm's ability to access finance in capital market.

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Attitudes towards corporate social responsibility and perceived importance of social responsibility information characteristics in a decision context

Cited by 106 publications

References 8 publications

Exploring the moderating effect of financial performance on the relationship between corporate environmental responsibility and institutional investors: some Egyptian evidence

Exploring the moderating effect of financial performance on the relationship between corporate environmental responsibility and institutional investors: some Egyptian evidence

Sustainability and Convergence: The Future of Corporate Governance Systems?

Corporate Social Responsibility and Financial Constraints: Evidence from Korean Firms

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