The Complexity of Relationship between Corporate Social Responsibility (CSR) and Financial Performance

P, Golrida Karyawati; Subroto, Bambang; Sutrisno, Tri; Saraswati, Erwin

doi:10.5195/emaj.2018.155

Cited by 11 publications

(4 citation statements)

References 60 publications

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“…As mentioned above, the empirical studies dealing with the relationship between CSR and FP do not reach a clear consensus neither on the meaning nor on the significance of the relationship. The divergent empirical findings may be attributable to theoretical underpinnings, sample selection techniques, variable measurements and estimation model specifications (Feng et al, 2018;Karyawati, Sutrisno & Saraswati, 2018;Kooskora et al, 2019). These mixed results open the doors to further research in developing countries such as Morocco where CSR is still evolving.…”

Section: Association Between Csr and Fpmentioning

confidence: 99%

An examination of linkages between corporate social responsibility and firm performance: Evidence from Moroccan listed firms

et al. 2021

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This article analyzes the complexity of the linkages between corporate social responsibility (CSR) and firm performance in Morocco and to decompose this complexity through a bidirectional sense of causality. Using data surveyed from 74 Moroccan listed firms, we conduct an econometric modeling to measure this relationship bilaterally and to investigate the underlying factors behind this association. The empirical study proves the existence of a positive association between CSR and firm performance in both directions in the Moroccan context and suggests that the more social enterprises are, the more they achieve better financial results. The mutual linkage between social and financial aspects allows us to draw some managerial implications and set up further research directions.

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Section: Association Between Csr and Fpmentioning

confidence: 99%

An examination of linkages between corporate social responsibility and firm performance: Evidence from Moroccan listed firms

et al. 2021

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“…Also, CSR is a corporate engagement with society through which they rebrand their core values towards protecting the environments, eradicating poverty, creating employment and labour practices, education, and human development (Khan, Khan, Ahmed, & Ali, 2012). Despite the CSR concept's popularity, it still lacks a universally accepted definition (Golrida, Subroto, Sutrisno, & Saraswati, 2018; Mikolajek-Gocejna, 2016)…”

Section: Corporate Social Responsibility (Csr)mentioning

confidence: 99%

“…The relationship between CSR and performance is complex, and the complexity is due to the inseparability between CSR and its environments, which hurts empirical studies; hence, the empirical results are highly contextual and lack generalisation (Golrida et al, 2018). The relationship between CSR and performance is multifaceted because of country characteristics and CSR forms and dimensions because country char-acteristics determine CSR practices' tendency, which finally determines the strength of the relationship between CSR and performance (Golrida et al, 2018).…”

Section: Empirical Reviewmentioning

confidence: 99%

Corporate Social Responsibility and Financial Performance of Deposit Money Banks: A new Evidence from Nigeria

Ogungbade

2020

IJAES

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The primary purpose of every business firm is to make a profit which is the economic performance in the Triple Bottom Line. However, a social and environmental performance which is Corporate Social Responsibility (CSR) has been argued to be very crucial for firms' sustainability. This argument has drawn the attention of researchers across the globe to various empirical studies which have produced confounding results. This study provides new evidence from Nigeria by disaggregating CSR into Community Development, Education and Health, and finding their effect on performance which is proxied by Return on Assets. The data were extracted from the audited annual reports of 12 Deposit Money Banks listed on Nigeria Stock Exchange for ten years, 2009-2008. The study found out that CSR on Community Developments has a positive and significant effect on financial performance. On the contrary, the study reveals that CSR on Education has an insignificant positive effect on financial performance, and CSR on Health has a negligible negative effect. The study recommends that management of Deposit money banks in Nigeria should not blindly engage in CSR activities, but should selectively select the CSR activities that can take care of all the stakeholders’ interest.

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“…CSR increases firm value, but the analysis of the relationship must consider the variables that influence the relationship between CSRD (Corporate Social Responsibility Disclosure) and firm value. Karyawati, Subroto, Sutrisno, and Saraswati (2019) found and considered other variables in the relationship between CSRD and firm value. Therefore, the extension of this study is to measure innovation as a mediating variable in influencing CSR disclosure with firm value.…”

Section: Introductionmentioning

confidence: 99%

Corporate social responsibility disclosure towards firm value

Fauziah

Sukoharsono

Saraswati³

2020

IJRBS

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This research aims to investigate and analyze the effect of corporate social responsibility disclosure on firm value, either directly or indirectly, by involving innovation as a mediator. This study uses secondary data on manufacturing companies listed on the Indonesia Stock Exchange for a period of four years from 2015 to 2018. The sample selection method uses the purposive sampling method with several criteria to produce 104 companies as the research sample so there are 416 observations. The analysis technique used is a simple and multiple linear regression analysis technique using the STATA 13 application as well as the Sobel Test for mediation tests. The results of this study provide empirical evidence that both in quality and quantity corporate social responsibility disclosure has an effect on increasing firm value. The results also show that corporate social responsibility disclosure cannot increase firm value through innovation due to a lack of research and development activity in most manufacturing companies because research and development activities require a long time and process as well as ineffective patent protection. Innovation has an insignificant effect on firm value due to the high cost of research and development can have an impact on large costs that reduce profits. However, innovation can be increased by corporate social responsibility disclosure, which means investing in corporate social responsibility disclosure can indirectly encourage the development of innovative product and process activities in the company. Innovation becomes a partial mediation variable so that innovation works partially in mediating between corporate social responsibility disclosure and firm value.

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The Complexity of Relationship between Corporate Social Responsibility (CSR) and Financial Performance

Cited by 11 publications

References 60 publications

An examination of linkages between corporate social responsibility and firm performance: Evidence from Moroccan listed firms

An examination of linkages between corporate social responsibility and firm performance: Evidence from Moroccan listed firms

Corporate Social Responsibility and Financial Performance of Deposit Money Banks: A new Evidence from Nigeria

Corporate social responsibility disclosure towards firm value

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