Exploring the performance of responsible companies in G20 during the COVID-19 outbreak

Khoury, Rim El; Nasrallah, Nohade; Harb, Étienne; Hussainey, Khaled

doi:10.1016/j.jclepro.2022.131693

Cited by 45 publications

(43 citation statements)

References 75 publications

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“…Current investigation has revealed the understanding by assuring the positive relationship among CSR, GT, GS, GPV, and GPI. In order to provide global insights into such phenomena, many investigates has endeavored to uncover the impact of different factor during the era of COVID-19 from different perspectives other than marketing outlooks ( El Khoury, Nasrallah, Harb and Hussainey, 2022 ; Vătămănescu et al, 2021 ).…”

Section: Discussionmentioning

confidence: 99%

Determinants of CSR and green purchase intention: Mediating role of customer green psychology during COVID-19 pandemic

Ahmad

Jafar

Waheed

et al. 2023

Journal of Cleaner Production

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Section: Discussionmentioning

confidence: 99%

Determinants of CSR and green purchase intention: Mediating role of customer green psychology during COVID-19 pandemic

Ahmad

Jafar

Waheed

et al. 2023

Journal of Cleaner Production

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“…In line with this theory, the shift of focus hypothesis stresses that engaging in CSR would draw the focus towards other aspects other than profit maximization, which in turn establishes a negative relationship between CSR and firm performance [17,19,20]. Furthermore, the tradeoff hypothesis asserts a negative relationship exists between CSR and firm performance due to the increased costs that result from investing in CSR [19,21].…”

Section: Introductionmentioning

confidence: 92%

“…Another strand of the literature emerged following the outbreak of COVID-19, which focused on examining the impact of the pandemic on the CSR and firm performance relationship. In a recent research study, [21] examined the effect of sustainable investments on the G20 companies' performances during COVID-19 and found that environmental, social, and governance (ESG) yields benefited in a time of crisis. However, this result was dependent on firm-specific aspects, income level, and ESG pillars.…”

Section: Positive Effects Of Csr On Business Performancementioning

confidence: 99%

“…For example, a positive correlation was found between ESG and accounting performance measures and an insignificant or negative correlation was found between ESG and market performance measures. Further, [21] emphasized that ESG practices are highly contingent on country-level mandatory or voluntary codes, environmental obligation, and integrated sustainability reporting. From a Chinese context, the authors of [1] indicated that during the COVID-19 pandemic, high environmental, social, and governance portfolios outperformed the low environmental, social, and governance portfolios, as environmental, social, and governance performance decreased the financial risk.…”

Section: Positive Effects Of Csr On Business Performancementioning

confidence: 99%

“…Likewise, within a developed countries context, a number of studies have reported that a positive relationship exists between CSR and firm performance [1,30], whereas other findings signified either a negative [11,16] or a neutral relationship [31,32]. Another stream of empirical studies examined the impact of COVID-19 on the relationship between CSR and firm performance and conveyed similar findings ranging between positive [21,33], negative [14,15], and neutral relationships [34,35].…”

Section: Introductionmentioning

confidence: 96%

See 2 more Smart Citations

Corporate Social Responsibility and Firm Performance in GCC Countries: A Panel Smooth Transition Regression Model

Ghardallou

Alessa

2022

Sustainability

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There is evidence for mixed effects of corporate social responsibility (CSR) on corporate financial performance. In particular, evidence is reported to be positive, negative, and insignificant. These controversies are generally explained by two opposing schools of thought, which are the social impact hypothesis and the shift of focus hypothesis. This paper attempts to contribute to the ongoing debate by investigating whether the relationship between CSR and firm financial results is nonlinear. Therefore, this research relies on a panel smooth transition regression (PSTR) model in order to calculate the value transition threshold of CSR in 70 Gulf Cooperation Council (GCC) firms from 2015 to 2020, using the CSR composite index and various CSR dimensions, which include environmental, social, and governance transition dimensions. Empirical findings indicate that investment in CSR does not help to boost corporate value until it exceeds the value transition threshold. However, when the marginal benefit exceeds the cost, CSR investment becomes a positive contributor to corporate performance. Furthermore, results indicate that the nonlinear relationship persists when using the individual CSR dimensions, i.e., governmental, social, and environmental CSR measurements. Finally, an interesting finding shows that the social CSR dimension is associated with the highest threshold level. Hence, firms should invest more in the social aspects of CSR in order to see their profitability increase.

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The influence of ESG score on financial performance: Evidence from the European health care industry

Candio

2024

Strategic Change

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Company managers are increasingly recognizing that sustainable practices are not just ethical imperatives but potential drivers of long‐term value. To determine the degree to which this is grounded in business reality, a growing body of empirical studies have examined whether higher environmental, social, and governance (ESG) performance predicts better financial performance. However, conflicting findings have emerged, with reviews highlighting the role that methodological choices, normative setting, and industry can play in moderating that relationship. Unlike other industries, health care has been the focus of only a handful of heterogeneous quantitative studies. To contribute to this evidence base for the European context, the present study comprehensively examined whether and how ESG score can influence both accounting‐ and market‐based measures of financial performance. Company data from the top health care companies listed in the STOXX 600 Index over the last decade (2012–2022) were gathered and analyzed. The analysis results confirmed that a marked heterogeneity of effects across the different ESG scores and measures of financial performance exists, which is not merely due to differences in empirical strategy, with modest positive effects being estimated in most cases. Of the three pillars, the governance score consistently predicted more positive financial performance among the sample of listed European companies. The environmental pillar score only influenced accounting‐based measures, though inconsistently, whereas the social pillar did not seem to have any predicting role for accounting‐based measures. Future research should consider replicating the proposed analytical framework in other data settings and normative contexts to strengthen the current evidence base and therefore deepen our understanding of the mechanisms underlying the investigated relationships in the health care industry.

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Exploring the performance of responsible companies in G20 during the COVID-19 outbreak

Cited by 45 publications

References 75 publications

Determinants of CSR and green purchase intention: Mediating role of customer green psychology during COVID-19 pandemic

Determinants of CSR and green purchase intention: Mediating role of customer green psychology during COVID-19 pandemic

Corporate Social Responsibility and Firm Performance in GCC Countries: A Panel Smooth Transition Regression Model

The influence of ESG score on financial performance: Evidence from the European health care industry

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