Corporate social responsibility, media freedom, and firm value

Chang, Kiyoung; Shim, Hyeongsop; Yi, Taihyeup David

doi:10.1016/j.frl.2019.03.019

Cited by 37 publications

(24 citation statements)

References 16 publications

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“…For country‐level variables, the impact of regulatory quality situation ( β 12 ) in the country has a positively significant influence on firm value (consistent with Saona & San Martín, 2016). There exists a positive association between the situation of press freedom ( β 13 ) in the country and firm value (consistent with Chang, Shim, & Yi, 2019). Lastly, the impact of environmental performance index ( β 14 ) has a positively significant effect on firm value (consistent with Dowell, Hart, & Yeung, 2000).…”

Section: Resultssupporting

confidence: 76%

CSR permanency, family ownership, and firm value: Evidence from emerging economies

Noor

Saeed

Baloch

et al. 2020

Corp Soc Responsibility Env

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Prior research suggests that undertaking corporate social responsibility (CSR) activities affect firm value. We extend this line of research by considering CSR activities over a longer period (a consistent CSR behavior) and examine the impact of CSR permanency on firm value. Using a cross‐country sample of 600 top‐listed firms from four leading emerging economies, Brazil, Russia, India, and China (BRIC) over the period 2010–2018, we find that CSR permanency positively impacts firm value after controlling for various firm and country characteristics. This effect is observed more pronounced for family‐owned firms. Additional analysis reveals that permanent CSR activities in both social and environmental dimensions positively influence firm value, however, CSR permanent activities in the social dimension exert a larger impact on firm value. Our results make important contributions to theory and practice.

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Section: Resultssupporting

confidence: 76%

CSR permanency, family ownership, and firm value: Evidence from emerging economies

Noor

Saeed

Baloch

et al. 2020

Corp Soc Responsibility Env

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show abstract

“…All of which has its responsibility on the financial, environmental and social dimensions. CSR plays an important role in connecting consumers with socially responsible companies, and loyal consumers are willing to pay higher prices for goods and services provided by the company, which in turn positively affects the value of company (Chang et al, 2019;Lev et al, 2010;Servaes and Tamayo, 2013).…”

Section: Theoretical Framework and Hypothesesmentioning

confidence: 99%

Firm Value Improvement Strategy, Corporate Social Responsibility, and Institutional Ownership

Chabachib¹,

Fitriana²,

Hersugondo³

et al. 2019

IJFR

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The study is intended to appraise return on assets (ROA), debt/equity ratio (DER), and firm size(SIZE) on price-to-book-value (PBV) with corporate social responsibility as an intervening variable and institutional proprietorship as a moderating variable. By using purposive sampling, 267 manufacturing companies are determined from the Indonesia Stock Exchange in the period of 2013-2017. Data are analyzed using multiple and bivariate regression analysis. The results show that ROA and firm size have a positive effect on corporate society awareness, while DER has no significant effect respectively. Profit gain, firm scope, and corporate social responsibility have a positive effect on firm utility. It came into a conclusion that corporate social awareness can be used to mediate the influence on leverage and firm scope toward the firm value, but cannot be used to mediate the effect of profit gain on firm utility.

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“…Kazakhstan, like other countries of the post-Soviet area, is a country of collective values and high power distance, and it is predictable that fewer local companies are interested in CSRR except foreign ones with a strong culture and corporate governance underpinnings. On the other hand, (Chang, Shim, Yi, 2019) examined whether the media freedom level of a country plays a mediating role in the interaction between CSR and B2C companies or between CSR and advertising intensity, and influences a company's value. They found "the interaction terms are positively associated with financial performance in countries with full media freedom", while "being negatively or insignificantly associated" in countries with partial or no media freedom.…”

Section: Fig 1 a Convergence Of Interestsmentioning

confidence: 99%

CSR and CSRR in Kazakhstan: state and prospects

Brauweiler

Yerimpasheva

2019

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

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The state, business community and citizens are social partners in ensuring a better quality of life. Corporate social responsibility (CSR) is a mechanism for the interaction of these partners. Non-financial reporting is essentially a communication channel about corporate social responsibility, demonstrating information about the company's market value, its impact on society and the environment. The use of CSR tools increases the level of confidence in business and ensures the sustainable development of society as a whole. The implementation of CSR strategy leads to increasing a company's business reputation, which has a significant impact and allows the company to strengthen a position in the market. In the framework of the conducted research, we used secondary and primary data collection methods, as well, qualitative and quantitative. Kazakhstani companies are increasingly aware of the need to introduce CSR policies in their work and actively involved in the CSR reporting process. The topic of CSR is gaining popularity in Kazakhstan. Representatives of business, state, public, and consumers are increasingly gathering to discuss social projects.

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Corporate social responsibility, media freedom, and firm value

Cited by 37 publications

References 16 publications

CSR permanency, family ownership, and firm value: Evidence from emerging economies

CSR permanency, family ownership, and firm value: Evidence from emerging economies

Firm Value Improvement Strategy, Corporate Social Responsibility, and Institutional Ownership

CSR and CSRR in Kazakhstan: state and prospects

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