Corporate Sustainability in the Wake of the COVID-19 Global Pandemic: Does CSR Enhance Corporate Survival during a Market Crisis?

Kim, Jangsoon; Choi, Donseung; Cho, Eunho; Okafor, Collins E.; Park, Byung Il

doi:10.3390/su142114438

Cited by 4 publications

(8 citation statements)

References 82 publications

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“…When ROA is used as the dependent variable, both the interaction terms turn out to be insignificant, demonstrating that the occurrence of COVID-19 has no impact on the ESGD–FP relation. Thus, for core disclosures our study reiterates the findings observed by Kim et al (2022), who observe an insignificant interaction effect. Regarding extended ESGD, our results support Beloskar and Rao (2023), Ding et al (2021) and Broadstock et al (2021), who observe a moderating effect of COVID-19.…”

Section: Resultssupporting

confidence: 90%

“…When ROA is used as the dependent variable, both the interaction terms turn out to be insignificant, demonstrating that the occurrence of COVID-19 has no impact on the ESGD-FP relation. Thus, for core disclosures our study reiterates the findings observed by Kim et al (2022), To address potential endogeneity concerns in the relationship between ESGD and FP, we conducted Durbin and Wu-Hausman tests. Both tests yielded insignificant chi-square values, indicating that the variables are exogenous, justifying the use of FE or RE models.…”

Section: Assessing Effect Of Core and Expanded Esgsupporting

confidence: 69%

“…For studies using the COVID-19 crisis as a moderator in the ESGD–FP relation, consistent results are observed with the majority of the studies finding that COVID-19 positively moderates the relation (Broadstock et al , 2021; Ding et al , 2021; Kaakeh and Gokmenoglu, 2022; Lu et al , 2022 and Beloskar and Rao, 2023). However, Kim et al (2022) arrive at a different conclusion, finding an insignificant impact in this regard.…”

Section: Review Of Literaturementioning

confidence: 84%

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Assessing the effect of core and expanded ESG on corporate financial performance: COVID-19’s moderating role

Maji,

Lohia

2024

JIBR

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Purpose This study aims to investigate the influence of disclosing environmental, social and governance (ESG) factors on financial performance, taking into account the moderating effect of the COVID-19 pandemic. Design/methodology/approach A sample of the top 100 non-financial firms listed on the Bombay Stock Exchange, for the years 2019–2022, has been considered. Suitable panel regression models have been used to assess the impact of non-financial disclosure on accounting and market measures of firm performance. In addition, a panel data moderating effect model is used to assess the moderating impact. Findings The outcomes of the study partially favour the value-creation role of ESG disclosure. Specifically, the disclosure of already established ESG metrics, particularly social and governance aspects, positively impacts the market performance while environmental transparency negatively impacts the accounting performance. Of the three ESG components, only extended governance disclosure adds to market value. Results of the moderation effect reveal a significant impact of the pandemic on the ESG disclosure–financial performance relation. However, a more pronounced effect before the pandemic is observed. The results are robust to endogeneity. Originality/value This study sheds light on the financial consequences of ESG disclosure within the context of an emerging nation. This is done by using a novel holistic ESG reporting framework to obtain more accurate results. Furthermore, the study distinguishes itself by examining the long-term moderating influence of the unexpected COVID-19 crisis on the ESG disclosure–financial performance relation.

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Section: Resultssupporting

confidence: 90%

Section: Assessing Effect Of Core and Expanded Esgsupporting

confidence: 69%

Section: Review Of Literaturementioning

confidence: 84%

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Assessing the effect of core and expanded ESG on corporate financial performance: COVID-19’s moderating role

Maji,

Lohia

2024

JIBR

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“…According to earlier studies on similar subjects, CSR initiatives are likely to impact company sustainability positively. CSR has been shown to enhance corporate image and performance and can help businesses thrive sustainably, improve firm reputation, and achieve sustainable business performance (Feng et al, 2022;Kim et al, 2022;Qing & Jin, 2022).…”

Section: Literature Review and Theoretical Frameworkmentioning

confidence: 99%

SMEs sustainability: The role of human resource management, corporate social responsibility and financial management

Belas,

Jan,

Hlawiczka

et al. 2024

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Research background: The sustainability of small- and medium-sized enterprises (SMEs) represents a significant scientific and professional problem in the current turbulent period because these enterprises play an important role in any country’s economic and social systems. Purpose of the article: This paper aimed to define the significant sustainability factors of small and medium-sized enterprises and to quantify their impact and importance on the sustainability of SMEs. The areas of Human Resource Management, Corporate Social Responsibility, and financial management were defined as significant sustainability factors. Methods: Empirical research, on which the scientific hypotheses were formulated and evaluated, was conducted in June 2022 in V4 countries (Czech Republic, Slovak Republic, Poland, and Hungary) using a structured questionnaire. The study accumulated a sample of 1398 respondents. Data collection was conducted through an external agency, MN FORCE, operating in Central European countries. The Computer Assisted Web Interview (CAWI) method was used to record respondents’ perceptions. Descriptive statistics, correlation analysis, and linear regression analysis were used to evaluate the hypotheses. Findings & value added: The research showed that all defined factors in the areas of Human resource management (HRM), Corporate social responsibility (CSR), and financial management of the firm had an impact on defined sustainability attributes. The greatest impact was found on the firm’s financial management, followed by CSR and HRM. The empirical results confirm that the intensity of the independent variables varies across the V4 countries. These results also show that the intensity of the selected HRM, CSR, and financial management factors of a firm is higher in the integrated models than in the models for individual V4 countries. The research results have shown that a range of factors determine the right attitude towards the sustainability of companies. In this context, economic policymakers and entrepreneurs must perceive sustainable growth as complex and apply a systemic approach to its design and implementation.

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“…Among recent studies, P. Peduzzi (Peduzzi, 2019) emphasizes that some aspects of disaster risk related to global environmental changes still don't have a clear meaning for the main stakeholders (governments, businesses, insurance companies or agencies). In turn, there are studies of the impact of the global pandemic examine the impact of the global COVID-19 pandemic on the relationship between corporate social responsibility (CSR) and firm sustainability (Kim et al, 2022). The authors argue that firms that are more active in CSR do not reduce the market risk associated with the global COVID-19 pandemic compared to their counterparts that are less active in CSR, that is, CSR doesn't provide a significant improving the company's market risks.…”

mentioning

confidence: 99%

Sustainable Business Development in the Context of the Contemporary Risks and Challenges

Kostynets¹,

Kostynets²

2023

EFMR

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The direction of our research is based on the problem of sustainable business development in the context of the global risks and contemporary challenges. In the article, the authors emphasize the need to find new ways of business development in the conditions of contemporary crises and challenges, among which a key place is given to the COVID-19 and Russian military aggression in Ukraine.Accordingly, the research hypothesis consists in the assumption that the effective management of the economic development of business should be based on a deep understanding of contemporary challenges and global risks affecting the development of each specific country currently in the medium and long term. The main goal of the research is to develop a model of the process of smart business regulation, taking into account consumer behavior in conditions of contemporary risks and challenges. The article notes that the basis of the proposed model of smart regulation in the conditions of modern challenges lies in decision-making theories based on uncertainty. In conclusion, the authors note that the development and implementation of smart regulation, focused on risks and challenges proportional to them, is an important approach to increasing efficiency, strengthening effectiveness and reducing the overall burden on the economy. The article finds that the COVID-19 crisis and Russia's military aggression in Ukraine have demonstrated the obstacles that regulation can create for crisis response when it is disproportionate to the risk or when the trade-offs between different risks are not adequately anticipated. It also demonstrates the importance of regulatory flexibility and emergency management, as well as the use of new technologies. The use of the proposed model is especially relevant in the context of the impact of future risks - threats to the ecosystem, epidemiology threats, security threats, threats of digital rights violations, and threats to economic stability.

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Corporate Sustainability in the Wake of the COVID-19 Global Pandemic: Does CSR Enhance Corporate Survival during a Market Crisis?

Cited by 4 publications

References 82 publications

Assessing the effect of core and expanded ESG on corporate financial performance: COVID-19’s moderating role

Assessing the effect of core and expanded ESG on corporate financial performance: COVID-19’s moderating role

SMEs sustainability: The role of human resource management, corporate social responsibility and financial management

Sustainable Business Development in the Context of the Contemporary Risks and Challenges

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