The Relationship between Corporate Social Responsibility and Financial Performance in Romanian Companies

Matei, Bogdan Florin; Cristina, Boboc; Simona, Ghiță

doi:10.24818/18423264/55.3.21.19

Cited by 5 publications

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“…Additionally, CSR programs are seen as a social responsibility rather than a direct driver of financial performance. This finding aligns with the study conducted by Benali et al (2021), Matei et al (2021), andNzuki &Opuodho (2022). Conversely, the firm's performance measured by ROE can be negatively influenced by CSR.…”

Section: Hypothesis Testing (H2)supporting

confidence: 89%

“…A company's aptitude to deliver positive growth is a key indicator of good performance. Investors commonly use performance as a benchmark to evaluate investment options and gauge the company's success (Matei et al, 2021). Conducting an assessment of a company's performance is necessary to gain a current understanding of its situation (Tania & Hesniati, 2022).…”

Section: Introductionmentioning

confidence: 99%

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The Impact of Corporate Social Responsibility and Corporate Governance on Firm Performance: A Study of ESG Quality 45 IDX-KEHATI

Cuandra,

Lie

2023

Almana

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The KEHATI-listed companies have displayed commendable SRI performance across financial metrics and transactional liquidity. Among these firms, PT Danone Indonesia faced a Corporate Social Responsibility (CSR) issue in 2012 due to the uneven distribution of benefits, which prompted community protests and undermined the company's efficacy, ultimately impacting its performance. The overarching objective of this study is to explore and comprehend the relationship between CSR, corporate governance, and their potential impact on the performance of ESG QUALITY 45 IDX KEHATI listed on the Indonesia Stock Exchange (IDX). The study utilized panel regression analysis to analyze data collected over five years (2017-2021) from IDX. The research implies that there is no substantial relationship between corporate governance and performance. However, the findings evidence implies that there is a strong negative relationship between CSR and ROE, while ROA remains unaffected. In terms of control variables, the study found no significant correlation between firm size and ROA and ROE, while leverage had shown a substantial negative influence on both financial performance measures. This research sheds light on the connection between CSR, corporate governance, and business performance.

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Section: Hypothesis Testing (H2)supporting

confidence: 89%

Section: Introductionmentioning

confidence: 99%

The Impact of Corporate Social Responsibility and Corporate Governance on Firm Performance: A Study of ESG Quality 45 IDX-KEHATI

Cuandra,

Lie

2023

Almana

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“…If the customer base is large, the company will enjoy economies of scale, will have more sales, and in the process reduce costs per unit of production, and improve revenue (Hernawati et al, 2021). Corporate Social Responsibility helps to attract customers since it improves the image of the organisation, improves the reputation of the organisation, and at the same time acts as a positive public relation (Mate et al, 2021). This ability to attract new customers will improve the size of the organisation's customer base.…”

Section: Increased Ability To Attract and Retain Customersmentioning

confidence: 99%

Evaluating the Relationship between Corporate Social Responsibility Incentives and Financial Outcomes of Corporations Operating in the GCC Region

Alaudhli

2024

AJRSP

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Corporate Social Responsibility (CSR) is a concept that has gained traction in strategic management over the years, and it is continuously being cited as important for both the business and the business shareholders. Although there is much research examining the general CSR-CFP relationship, there is very little, if any, research that investigates the firms operating in GCC countries, which is the main objective of this study. One of the new methods used to measure Corporate Social Responsibility engagement in any organisation is the ESG rating. The ESG rating measures the Environmental, Social and Governance (ESG) dimensions of Corporative Social Responsibility engagement. This research uses the stakeholder theory framework, together with the agency theory framework to find the impact that CSR has on the financial performance of organisations. In the research, we used annual data of ESG and financial ratios of 98 publicly listed firms operating in the Gulf Cooperation Council, from 2008 to 2018. Regression analysis was used to test the impact of ESG scores on the financial performance of organisations. According to the results, the Environmental, Social, and Governance dimensions have a significant impact on the financial performance of organisations operating in the Gulf Cooperation Council. This study contributes to the body of knowledge on the relationship between CSR performance and Financial Performance.

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“…The financial performance of Romanian companies is positively affected by corporate social responsibility actions [57].…”

Section: The Energy Sectormentioning

confidence: 99%

Governance and Performance in Romanian Energy Companies

Bîgioi

Bigioi

2023

Energies

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The energy sector is essential to a country’s economy and social life. In recent years, the energy market in Romania has experienced a certain dynamism, influenced by multiple factors such as regional conflicts, national and EU energy legislation, liberalization of the energy market, and increasing demand for energy products. These factors determined a sharp increase in electricity, gas, and oil prices in Romania in recent years. Based on the above, the present study aims to analyze Romanian energy companies’ financial performances and determine whether there is any correlation between their governance and their performance. In order to fulfill the research objectives, financial performance data were extracted and analyzed for a number of 43 energy companies in Romania, considering the financial statements prepared up to 31 December 2021. Using the scoring method, governance indices were determined for each company. Finally, using a linear regression model, we analyzed the correlation between governance and performance of the 43 companies. The results of the study indicate that there is a direct correlation of moderate intensity between the two variables, with the performance of energy companies being higher if they have implemented a governance system.

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The Relationship between Corporate Social Responsibility and Financial Performance in Romanian Companies

Cited by 5 publications

References 0 publications

The Impact of Corporate Social Responsibility and Corporate Governance on Firm Performance: A Study of ESG Quality 45 IDX-KEHATI

The Impact of Corporate Social Responsibility and Corporate Governance on Firm Performance: A Study of ESG Quality 45 IDX-KEHATI

Evaluating the Relationship between Corporate Social Responsibility Incentives and Financial Outcomes of Corporations Operating in the GCC Region

Governance and Performance in Romanian Energy Companies

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