CSR permanency, family ownership, and firm value: Evidence from emerging economies
CSR permanency, family ownership, and firm value: Evidence from emerging economies
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.
2135-2149
Noor, Sana
6441e509-250a-4c1a-b446-bb1634c69580
Saeed, Abubakr
9b178710-8c61-4298-809a-0d3f0b674ab9
Baloch, Muhammad Saad
0baa859e-4d0d-4dda-8433-d813655c88b5
Awais, Muhammad
209efee5-d953-4956-8c6b-863e947c818c
4 May 2020
Noor, Sana
6441e509-250a-4c1a-b446-bb1634c69580
Saeed, Abubakr
9b178710-8c61-4298-809a-0d3f0b674ab9
Baloch, Muhammad Saad
0baa859e-4d0d-4dda-8433-d813655c88b5
Awais, Muhammad
209efee5-d953-4956-8c6b-863e947c818c
Noor, Sana, Saeed, Abubakr, Baloch, Muhammad Saad and Awais, Muhammad
(2020)
CSR permanency, family ownership, and firm value: Evidence from emerging economies.
Corporate Social Responsibility and Environmental Management, 27 (5), .
(doi:10.1002/csr.1953).
Abstract
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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Accepted/In Press date: 10 April 2020
Published date: 4 May 2020
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Local EPrints ID: 476668
URI: http://eprints.soton.ac.uk/id/eprint/476668
ISSN: 1535-3958
PURE UUID: e1a52b9d-a5d5-4b05-9747-6edbc92e02e3
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Date deposited: 10 May 2023 17:22
Last modified: 17 Mar 2024 04:18
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Author:
Sana Noor
Author:
Abubakr Saeed
Author:
Muhammad Saad Baloch
Author:
Muhammad Awais
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