Corporate social responsibility and shareholder's value

Becchetti, Leonardo; Ciciretti, Rocco; Hasan, Iftekhar; Kobeissi, Nada

doi:10.1016/j.jbusres.2011.10.022

Cited by 219 publications

(149 citation statements)

References 14 publications

Supporting

Mentioning

127

Contrasting

Unclassified

Order By: Relevance

“…The rationale is that financial markets should be increasingly sensitive to CSR activities due to the following reasons: first, interest of investors grows over time (Becchetti et al (2012); second, CSR practice has spillover effects on market returns (Bobbie, 2017), and lastly, CSR strategies have long-term effects on shareholder value (Hart and Milstein, 2003;Roberts and Dowling, 2002;Whelan and Fink, 2016). Investors begin to value sustainable practices due to its effect on financial performances (Whelan and Fink, 2016).…”

Section: Earning Persistencementioning

confidence: 99%

Exploring the Sustainable Shareholder Value of Corporate Social Responsibility Activities

Juniarti¹

2018

IJMAR

View full text Add to dashboard Cite

Abstract:This research aims to explore the long-term benefit of the consistent implementation of CSR activities in creating sustainable value for shareholders, based on the argumentation of a sustainability approach. The measurement of sustainable shareholder value uses an accounting-based and market-based approach. Since the benefit of CSR cannot be expected in the short-term but in the longer-term, this study requires that the companies should have implemented CSR for at least five years to be included in this research sample. These results support the argumentation of sustainability in which CSR has a positive association with the sustainable shareholder value using both accounting-based and market-based measurement. In addition, this research also uncovers that there is a difference association model of CSR and sustainable shareholder value between firms that have high social and environmental risk (high-profile companies) and firms that have low social and environmental risk (low-profile companies).

show abstract

Section: Earning Persistencementioning

confidence: 99%

Exploring the Sustainable Shareholder Value of Corporate Social Responsibility Activities

Juniarti¹

2018

IJMAR

View full text Add to dashboard Cite

show abstract

“…As ações de RSC podem melhorar a marca e a reputação das empresas e aliviar as preocupações sobre condutas negativas (Lev et al, 2006). Becchetti et al (2012) ressaltam que a maior parte dos critérios de RSC implicam em uma mudança de foco, da maximização do valor para os acionistas, para a satisfação dos interesses de um conjunto amplo de partes interessadas. Além disso, a RSC pode apresentar efeitos positivos sobre o valor de mercado das empresas.…”

Section: Responsabilidade Social Corporativaunclassified

The relevance of accounting information and the corporate social responsibility of Brazilian companies

Degenhart

Mazzuco

Klann

2017

BASE

View full text Add to dashboard Cite

Este é um artigo de acesso aberto, licenciado por Creative Commons Atribuição 4.0 Internacional (CC BY 4.0), sendo permitidas reprodução, adaptação e distribuição desde que o autor e a fonte originais sejam creditados. RESUMOEsta pesquisa teve por objetivo analisar a relação entre a Responsabilidade Social Corporativa (RSC) e a relevância das informações contábeis de empresas brasileiras. Para tanto, realizou-se uma pesquisa descritiva, documental e com abordagem quantitativa por meio da utilização de regressão de dados em painel. O período de análise compreendeu os anos de 2011 a 2015. A amostra do estudo constituiu-se de 294 empresas, dividida em 53 empresas que divulgaram Balanço Social (IBASE), 26 empresas listadas no Índice de Sustentabilidade Empresarial (ISE) e 215 empresas que não se enquadram nos quesitos do IBASE e ISE. Os resultados do estudo revelaram que a RSC mostrou-se relacionada de forma positiva com a relevância das informações contábeis. Assim, conclui-se que informações de natureza socioambiental são percebidas pelos investidores como relevantes em seu processo de tomada de decisão, de compra ou venda de participações societárias. Deste modo, nota-se a importância das empresas investirem em RSC e posteriormente divulgá-la nos relatórios, o que pode melhorar a qualidade da informação contábil e reduzir o custo de capital das empresas, além de beneficiar a sociedade e o meio ambiente com práticas mais éticas e responsáveis.Palavras-chave: relevância das informações contábeis, responsabilidade social corporativa, qualidade da informação contábil, empresas brasileiras. ABSTRACTThis study aimed to analyze the relationship between Corporate Social Responsibility (CSR) and the relevance of the accounting information of Brazilian companies. In order to do that, a descriptive, documentary and quantitative approach was carried out through the use of panel data regression. The study took place from 2011 to 2015 and consisted of 294 companies, divided into 53 companies that disclosed Social Balance Sheet (IBASE), 26 companies listed in the Corporate Sustainability Index (ISE) and 215 companies that do not fit the IBASE and ISE requirements. The results of the study revealed that CSR was positively related to the relevance of the accounting information. Thus, it is concluded that information of a socio-environmental nature is perceived by investors as relevant in their decision-making, buying or selling corporate holdings.

show abstract

“…A study by Becchetti et al (2012) used an event methodology to investigate the market reaction to companies' entry and exit from the Domini 400 Social Index between 1990 and 2004, and their findings revealed that the announcements of exit from a social index affected a company's return negatively, which implies that investors react negatively to the decline in a company's social responsibility, shown by the exit from the social index. The results are similar to those of Shen and Chang (2009) who confirmed a positive relationship between CSR and companies' financial performance.…”

Section: Empirical Evidence Supporting a Positive Relationship Betweementioning

confidence: 99%

Does corporate social responsibility affect companies’ financial performance? A review of empirical studies

Muzindutsi¹

2015

Proceedings of the 7th International Conference on Business and Finance

View full text Add to dashboard Cite

Corporate social responsibility and shareholder's value

Cited by 219 publications

References 14 publications

Exploring the Sustainable Shareholder Value of Corporate Social Responsibility Activities

Exploring the Sustainable Shareholder Value of Corporate Social Responsibility Activities

The relevance of accounting information and the corporate social responsibility of Brazilian companies

Does corporate social responsibility affect companies’ financial performance? A review of empirical studies

Contact Info

Product

Resources

About