This paper shows that firm misvaluation positively affects a firm’s corporate social responsibility (CSR) ratings. The positive effect is only significant when firms are relatively overvalued. Using mutual fund hypothetical outflow pressure, I establish causality from misvaluation to CSR performance. The channel tests show that the increased CSR is more likely to be caused by a direct catering channel instead of an external financing channel. The baseline result holds when I exclude observations with equity issurance or debt issurance during the previous three years. Contrary to the prediction of the external financing channel, the positive effect on CSR is more pronounced for firms with higher financial strength. Moreover, the effect is stronger when CSR sentiment is high and for firms with higher socially responsible investor ownership and higher long-term institutional investor ownership. Overall, the results reveal the incentives of managers to increase CSR activities in overvaluation to cater to investors who have a taste for better CSR performance.
{"title":"Firm Misvaluation and Corporate Social Responsibility","authors":"Yaling Jin","doi":"10.2139/ssrn.3412997","DOIUrl":"https://doi.org/10.2139/ssrn.3412997","url":null,"abstract":"This paper shows that firm misvaluation positively affects a firm’s corporate social responsibility (CSR) ratings. The positive effect is only significant when firms are relatively overvalued. Using mutual fund hypothetical outflow pressure, I establish causality from misvaluation to CSR performance. The channel tests show that the increased CSR is more likely to be caused by a direct catering channel instead of an external financing channel. The baseline result holds when I exclude observations with equity issurance or debt issurance during the previous three years. Contrary to the prediction of the external financing channel, the positive effect on CSR is more pronounced for firms with higher financial strength. Moreover, the effect is stronger when CSR sentiment is high and for firms with higher socially responsible investor ownership and higher long-term institutional investor ownership. Overall, the results reveal the incentives of managers to increase CSR activities in overvaluation to cater to investors who have a taste for better CSR performance.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"118 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130170551","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We consider a socially responsible firm that is concerned with its profit as well as consumer surplus, following the preference of pro-social executives or a government shareholder. Specifically, we study the decisions faced by a newsvendor whose objective is modeled as a weighted average of the expected profit and consumer surplus, with the weight on consumer surplus referred to as the corporate social responsibility (CSR) level. Our model includes the pure profit-maximizing and non-profit firms as two extreme cases. We study the firm's optimal inventory decision in the base model and the optimal joint price and inventory decisions in an extension. Our results show that the socially conscious executives (or the government as a shareholder) would face less resistance from the shareholders (or the firm) when imposing a lower CSR level, yet with which it enjoys a more significant improvement in boosting consumer surplus at the cost of a marginal profit loss by the firm, in both relative and absolute terms. This structural property is robust in a variety of extensions and implies that a little CSR can go a long way. We also provide demand-distribution-free guarantees on the performance of enduring profit loss in exchange for consumer surplus achieved by a CSR level. Moreover, we show that the same level of demand variability has a less negative impact on the firm's objective when its CSR level is higher; under normal demand, with a little CSR, such a negative impact has a larger reduction for a product with a higher coefficient of variation or a lower critical ratio. Finally, one of our numerical studies using practical data demonstrates that for an influenza vaccine of Afluria Quadrivalent, a CSR level of 10% enables the firm to improve consumer surplus by 17.8% (of the maximum improvement) at the expense of a profit loss of only 1.2% (of the maximum loss) for a typical demand's coefficient of variation level of 0.4.
{"title":"Socially Responsible Newsvendor","authors":"Chenyue Hu, Ming Hu, Yongbo Xiao","doi":"10.2139/ssrn.3805366","DOIUrl":"https://doi.org/10.2139/ssrn.3805366","url":null,"abstract":"We consider a socially responsible firm that is concerned with its profit as well as consumer surplus, following the preference of pro-social executives or a government shareholder. Specifically, we study the decisions faced by a newsvendor whose objective is modeled as a weighted average of the expected profit and consumer surplus, with the weight on consumer surplus referred to as the corporate social responsibility (CSR) level. Our model includes the pure profit-maximizing and non-profit firms as two extreme cases. We study the firm's optimal inventory decision in the base model and the optimal joint price and inventory decisions in an extension. Our results show that the socially conscious executives (or the government as a shareholder) would face less resistance from the shareholders (or the firm) when imposing a lower CSR level, yet with which it enjoys a more significant improvement in boosting consumer surplus at the cost of a marginal profit loss by the firm, in both relative and absolute terms. This structural property is robust in a variety of extensions and implies that a little CSR can go a long way. We also provide demand-distribution-free guarantees on the performance of enduring profit loss in exchange for consumer surplus achieved by a CSR level. Moreover, we show that the same level of demand variability has a less negative impact on the firm's objective when its CSR level is higher; under normal demand, with a little CSR, such a negative impact has a larger reduction for a product with a higher coefficient of variation or a lower critical ratio. Finally, one of our numerical studies using practical data demonstrates that for an influenza vaccine of Afluria Quadrivalent, a CSR level of 10% enables the firm to improve consumer surplus by 17.8% (of the maximum improvement) at the expense of a profit loss of only 1.2% (of the maximum loss) for a typical demand's coefficient of variation level of 0.4.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121048144","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Following the bankruptcy of Pacific Gas and Electric in California, a number of academic commentators, central banks and regulators are coming to the realization that climate change poses a massive threat to the existing financial markets. While numerous legislative proposals to combat the emerging threat are being discussed across the world, there has been a massive rise in securities litigation involving climate change issues, particularly in the US. As early as in 2007, some US states had begun investigating companies for deliberately misleading their shareholders through non-disclosure of climate change risks. A number of similar suits have followed, increasingly binging into question the meaning and extent of ‘material information’ in the context of capital markets. In India, the Reserve Bank of India (RBI) has identified climate change as a potential risk to the stability of the financial system, but there has been little legislative action in this regard. The Securities and Exchange Board of India (SEBI) has a provision similar to that in the US requiring all listed companies to disclose ‘material’ facts regarding their assets and value on the market, while Indian courts have long recognized that corporations as well as intermediaries on the securities market are bound by a fiduciary duty to disclose all material information to investors. Drawing a comparison with the rising trend of climate change related securities litigation in the US, this article explores whether a company failing to disclose risks associated with climate change would be in violation of the current Indian regulatory framework, and what kind of legislative changes, if any, are required to safeguard the interests of Indian investors.
{"title":"Taking the Heat: (Non)Disclosure of Climate Change Risks in India","authors":"A. Bhaduri","doi":"10.2139/SSRN.3777390","DOIUrl":"https://doi.org/10.2139/SSRN.3777390","url":null,"abstract":"Following the bankruptcy of Pacific Gas and Electric in California, a number of academic commentators, central banks and regulators are coming to the realization that climate change poses a massive threat to the existing financial markets. While numerous legislative proposals to combat the emerging threat are being discussed across the world, there has been a massive rise in securities litigation involving climate change issues, particularly in the US. As early as in 2007, some US states had begun investigating companies for deliberately misleading their shareholders through non-disclosure of climate change risks. A number of similar suits have followed, increasingly binging into question the meaning and extent of ‘material information’ in the context of capital markets.\u0000In India, the Reserve Bank of India (RBI) has identified climate change as a potential risk to the stability of the financial system, but there has been little legislative action in this regard. The Securities and Exchange Board of India (SEBI) has a provision similar to that in the US requiring all listed companies to disclose ‘material’ facts regarding their assets and value on the market, while Indian courts have long recognized that corporations as well as intermediaries on the securities market are bound by a fiduciary duty to disclose all material information to investors. Drawing a comparison with the rising trend of climate change related securities litigation in the US, this article explores whether a company failing to disclose risks associated with climate change would be in violation of the current Indian regulatory framework, and what kind of legislative changes, if any, are required to safeguard the interests of Indian investors.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125176848","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Since the late 1990s there has been a proliferation of transnational, voluntary standards for what constitutes responsible corporate actions, including standards that have been developed by states; public/private partnerships; multi-stakeholder negotiation processes; industries and companies; institutional investors; functional groups such as accountancy firms and social assurance consulting groups; NGOs and non-financial ratings agencies. This chapter provides an overview of the leading standards and instruments including CSR initiatives of governmental or intergovernmental bodies (e.g., UN Global Compact, OECD Guidelines for Multinational Enterprises, G20/OECD Principles of Corporate Governance, International Financial Corporation and UN Sustainable Development Goals); CSR human rights instruments; sectoral CSR commitments; international multi-stakeholder processes, international management and reporting standards and securities exchanges and regulators.
{"title":"Introduction to Sustainability Standards and Instruments","authors":"Alan S. Gutterman","doi":"10.2139/ssrn.3804430","DOIUrl":"https://doi.org/10.2139/ssrn.3804430","url":null,"abstract":"Since the late 1990s there has been a proliferation of transnational, voluntary standards for what constitutes responsible corporate actions, including standards that have been developed by states; public/private partnerships; multi-stakeholder negotiation processes; industries and companies; institutional investors; functional groups such as accountancy firms and social assurance consulting groups; NGOs and non-financial ratings agencies. This chapter provides an overview of the leading standards and instruments including CSR initiatives of governmental or intergovernmental bodies (e.g., UN Global Compact, OECD Guidelines for Multinational Enterprises, G20/OECD Principles of Corporate Governance, International Financial Corporation and UN Sustainable Development Goals); CSR human rights instruments; sectoral CSR commitments; international multi-stakeholder processes, international management and reporting standards and securities exchanges and regulators.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126003206","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Faisal Mahmood, Faisal Qadeer, Usman Sattar, Antonio Ariza-Montes, M. Saleem, Jaffar Aman
A vast stream of literature has investigated the effect of corporate social responsibility (CSR) on firms’ financial performance (FFP). However, this effect has remained unclear and undecided. For instance, numerous studies have examined the direct impact of firms’ CSR initiatives on FFP, as well as examining various mechanisms to explain this relationship, but found inconsistent results. The indecisive results indicate that researchers lack consensus to define a mechanism to understand how and under what conditions CSR can affect FFP. Thus, this research aims to investigate how firms’ CSR perception and disclosure derive accounting- (return on equity: ROE, earnings per share: EPS), market- (Tobin Q) and perception-based firms’ financial performance through the mediation of competitive advantage and boundary conditions of family ownership and CEO narcissism. This research underpins the theoretical lens of the resource-based view to derive hypotheses. The research design employed in this study is quantitative, and the approach to theory development is deductive. Multi-method and multi-source data with temporal breaks are collected from 60 manufacturing firms listed on the Pakistan Stock Exchange (PSE). Primary data are collected from the top and middle managers, while secondary data are collected from the annual reports published by these firms. This research found that competitive advantage significantly mediated the indirect impact of perceived CSR and disclosure on FFP. Further, this relationship is strengthened by the contingencies of family ownership and CEO narcissism. Our results will assist the management of the firms to understand the implications of CSR perceptions and disclosure to derive a competitive advantage that ultimately translates into the firms’ financial performance. Further, this research also revealed that managers should concentrate on the boundary conditions of family ownership and CEO narcissism as well. In particular, this research contributes to understand why CSR is viewed to have a strategic importance for the firms and how a resource-based perspective might be utilized in such endeavors.
{"title":"Corporate Social Responsibility and Firms’ Financial Performance: A New Insight","authors":"Faisal Mahmood, Faisal Qadeer, Usman Sattar, Antonio Ariza-Montes, M. Saleem, Jaffar Aman","doi":"10.3390/su12104211","DOIUrl":"https://doi.org/10.3390/su12104211","url":null,"abstract":"A vast stream of literature has investigated the effect of corporate social responsibility (CSR) on firms’ financial performance (FFP). However, this effect has remained unclear and undecided. For instance, numerous studies have examined the direct impact of firms’ CSR initiatives on FFP, as well as examining various mechanisms to explain this relationship, but found inconsistent results. The indecisive results indicate that researchers lack consensus to define a mechanism to understand how and under what conditions CSR can affect FFP. Thus, this research aims to investigate how firms’ CSR perception and disclosure derive accounting- (return on equity: ROE, earnings per share: EPS), market- (Tobin Q) and perception-based firms’ financial performance through the mediation of competitive advantage and boundary conditions of family ownership and CEO narcissism. This research underpins the theoretical lens of the resource-based view to derive hypotheses. The research design employed in this study is quantitative, and the approach to theory development is deductive. Multi-method and multi-source data with temporal breaks are collected from 60 manufacturing firms listed on the Pakistan Stock Exchange (PSE). Primary data are collected from the top and middle managers, while secondary data are collected from the annual reports published by these firms. This research found that competitive advantage significantly mediated the indirect impact of perceived CSR and disclosure on FFP. Further, this relationship is strengthened by the contingencies of family ownership and CEO narcissism. Our results will assist the management of the firms to understand the implications of CSR perceptions and disclosure to derive a competitive advantage that ultimately translates into the firms’ financial performance. Further, this research also revealed that managers should concentrate on the boundary conditions of family ownership and CEO narcissism as well. In particular, this research contributes to understand why CSR is viewed to have a strategic importance for the firms and how a resource-based perspective might be utilized in such endeavors.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126088283","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We examine whether SEC effort to review state sponsors of terrorism (SST) disclosure negatively influences financial reporting oversight. Using comment letter inquiries about SST to measure effort, we find the likelihood that the SEC fails to identify a financial reporting error increases when comment letters reference SST. Consistent with SST disclosure review crowding out financial reporting oversight, comment letters referencing SST are less likely to mention accounting, non-GAAP, and MD&A issues. These effects are unique to SST as we find references to non-SST issues complement financial reporting oversight. Data obtained through a Freedom of Information Act request reveals a temporal shift in the occupational mix of SEC reviewers towards (away from) lawyers (accountants) that coincides with an increased focus on SST. Path analysis reveals that accountants (lawyers) are more (less) likely to detect errors and comment on financial reporting topics, with an indirect path through SST exacerbating these effects.
我们研究SEC审查恐怖主义国家资助者(SST)披露的努力是否会对财务报告监督产生负面影响。使用关于SST的评论信查询来衡量努力，我们发现当评论信引用SST时，SEC未能识别财务报告错误的可能性增加。与SST披露审查排挤财务报告监督相一致，提到SST的评论信不太可能提到会计、非公认会计准则和MD&A问题。这些影响是SST特有的，因为我们发现非SST问题的参考补充了财务报告监督。根据《信息自由法》(Freedom of Information Act)的要求获得的数据显示，SEC审查员的职业组合在时间上从律师(会计师)转向(远离)律师(会计师)，这与对SST的日益关注相吻合。路径分析显示，会计师(律师)更可能(更不可能)发现错误并对财务报告主题发表评论，而通过SST的间接路径加剧了这些影响。
{"title":"State Sponsors of Terrorism Disclosure and SEC Financial Reporting Oversight","authors":"R. Hills, M. Kubic, William J. Mayew","doi":"10.2139/ssrn.3592694","DOIUrl":"https://doi.org/10.2139/ssrn.3592694","url":null,"abstract":"We examine whether SEC effort to review state sponsors of terrorism (SST) disclosure negatively influences financial reporting oversight. Using comment letter inquiries about SST to measure effort, we find the likelihood that the SEC fails to identify a financial reporting error increases when comment letters reference SST. Consistent with SST disclosure review crowding out financial reporting oversight, comment letters referencing SST are less likely to mention accounting, non-GAAP, and MD&A issues. These effects are unique to SST as we find references to non-SST issues complement financial reporting oversight. Data obtained through a Freedom of Information Act request reveals a temporal shift in the occupational mix of SEC reviewers towards (away from) lawyers (accountants) that coincides with an increased focus on SST. Path analysis reveals that accountants (lawyers) are more (less) likely to detect errors and comment on financial reporting topics, with an indirect path through SST exacerbating these effects.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"88 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133523275","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We use exogenous variation in the exposure of U.S. firms’ directors to the staggered introduction of environmental and social (E&S) reforms in foreign countries to study the role of the Board of Directors in shaping U.S. firms’ E&S performance. Using a difference-in-differences design, we document a strong impact of the Board of Directors on U.S. firms’ overall E&S performance, and we find that this effect is concentrated in firms’ environmental commitments. The shock transmission is stronger in ‘clean’ industries and firms with lower financial risk and less institutional ownership. Firms exposed to E&S shocks have greater subsequent firm performance and productivity.
{"title":"Do Directors Drive Corporate Sustainability?","authors":"P. Iliev, Lukáš Roth","doi":"10.2139/ssrn.3575501","DOIUrl":"https://doi.org/10.2139/ssrn.3575501","url":null,"abstract":"We use exogenous variation in the exposure of U.S. firms’ directors to the staggered introduction of environmental and social (E&S) reforms in foreign countries to study the role of the Board of Directors in shaping U.S. firms’ E&S performance. Using a difference-in-differences design, we document a strong impact of the Board of Directors on U.S. firms’ overall E&S performance, and we find that this effect is concentrated in firms’ environmental commitments. The shock transmission is stronger in ‘clean’ industries and firms with lower financial risk and less institutional ownership. Firms exposed to E&S shocks have greater subsequent firm performance and productivity.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115265768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sameh Abadir, E. Batsa, Michael Neubert, D. Halkias
Background: Multicultural teams provide diverse skill sets, and members’ different experiences could through effective leadership be leveraged to improve organizational performance, especially in the agile organization. Effective multicultural team leadership can drive the goals of agile organizations and support their realization. The problem is organizational leaders have a critical knowledge gap on how the competencies and skills of managers can be utilized to improve the effectiveness of multicultural teams. Methodology: This integrative literature review focused on the study of current research findings on managers’ experiences in leading multicultural teams within agile organizations. This study is framed by two key concepts of agile leadership models and leadership emergence in multicultural teams. Findings: This integrative literature review provides in-depth knowledge to formulate new knowledge and recommendations for further research that can be applied to measure the leadership effectiveness of multicultural teams in agile organizations. Managers and leaders of multicultural teams need to have a high intercultural competence to successfully integrate employees with diverse cultural backgrounds in their teams and also to facilitate fruitful communication and knowledge sharing among them using agile management tools. Originality: This integrative literature review can be utilized by future researchers as foundational material in studies to extend theoretical foundations and to extend the results of prior related studies. It has helped to highlight managerial and theoretical implications and to inform recommendations for future research that could contribute to improving the leadership of multicultural teams and, thus, their performance within agile organizations.
{"title":"Leading Multicultural Teams in Agile Organizations","authors":"Sameh Abadir, E. Batsa, Michael Neubert, D. Halkias","doi":"10.2139/ssrn.3507635","DOIUrl":"https://doi.org/10.2139/ssrn.3507635","url":null,"abstract":"Background: Multicultural teams provide diverse skill sets, and members’ different experiences could through effective leadership be leveraged to improve organizational performance, especially in the agile organization. Effective multicultural team leadership can drive the goals of agile organizations and support their realization. The problem is organizational leaders have a critical knowledge gap on how the competencies and skills of managers can be utilized to improve the effectiveness of multicultural teams. \u0000 \u0000Methodology: This integrative literature review focused on the study of current research findings on managers’ experiences in leading multicultural teams within agile organizations. This study is framed by two key concepts of agile leadership models and leadership emergence in multicultural teams. \u0000 \u0000Findings: This integrative literature review provides in-depth knowledge to formulate new knowledge and recommendations for further research that can be applied to measure the leadership effectiveness of multicultural teams in agile organizations. Managers and leaders of multicultural teams need to have a high intercultural competence to successfully integrate employees with diverse cultural backgrounds in their teams and also to facilitate fruitful communication and knowledge sharing among them using agile management tools. \u0000 \u0000Originality: This integrative literature review can be utilized by future researchers as foundational material in studies to extend theoretical foundations and to extend the results of prior related studies. It has helped to highlight managerial and theoretical implications and to inform recommendations for future research that could contribute to improving the leadership of multicultural teams and, thus, their performance within agile organizations.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132321310","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-11-01DOI: 10.33166/acdmhr.2019.03.001
Erum Shaikh
Research on Corporate Social Responsibility (CSR) is not new but relatively very few researches have been focused on the influence of CSR on the organizational performance (OP), employee commitment (EC) and on the mediating role of EC with the CSR and OP. The current study was conducted on the sample size of 806 employees working in two reputable banks of Pakistan. The current study uses the PLS-SEM 3.0 version to test the proposed hypotheses. The results of current research study revealed the significantly positive link between the CSR with the performance of the organization, CSR with EC and the study also found the positive results of mediating role of EC between the CSR and OP. The study also suggests some significant future implication regarding the importance of CSR actions and its uses that can increase the commitment level of the employees, they feel proud to become part of that organizational who is socially responsible and the performance of the organization will also be enhanced.
{"title":"Influence of Corporate Social Responsibility on the Performance of Organization and Commitment of the Employee: A Case of the Banking Sector of Pakistan","authors":"Erum Shaikh","doi":"10.33166/acdmhr.2019.03.001","DOIUrl":"https://doi.org/10.33166/acdmhr.2019.03.001","url":null,"abstract":"Research on Corporate Social Responsibility (CSR) is not new but relatively very few researches have been focused on the influence of CSR on the organizational performance (OP), employee commitment (EC) and on the mediating role of EC with the CSR and OP. The current study was conducted on the sample size of 806 employees working in two reputable banks of Pakistan. The current study uses the PLS-SEM 3.0 version to test the proposed hypotheses. The results of current research study revealed the significantly positive link between the CSR with the performance of the organization, CSR with EC and the study also found the positive results of mediating role of EC between the CSR and OP. The study also suggests some significant future implication regarding the importance of CSR actions and its uses that can increase the commitment level of the employees, they feel proud to become part of that organizational who is socially responsible and the performance of the organization will also be enhanced.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125474449","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The corporate sustainable reporting practices are recognized as a method of disclosure of information about social, performance, environmental and economic of the governance by the corporate sector. This study finding is indicating that corporate sustainability reporting is accepted as the most appropriate subject in present financial and economic systems. This report's findings are also indicating that sustainability practices in the firm improve the financial growth and decision making in respect of the cost of capital, capital budgeting, investment returns and working capital management. However, there are some risks associated with sustainability reporting that can be decreased through the implementation of risk mitigation and management practices. Both Western and Islamic financing systems are working towards sustainable projects in form of short term green loans, community micro-financing projects, renewable energy programs, and others. Also, the bankruptcy element can be decreased through proper implementation of low-risk sustainability financing models in the company which will cause more investor interest and financial returns.
{"title":"How Sustainability Contributes to Shared Value Creation and Firms’ Value","authors":"A. Almansoori, Haitham Nobanee","doi":"10.2139/ssrn.3472411","DOIUrl":"https://doi.org/10.2139/ssrn.3472411","url":null,"abstract":"The corporate sustainable reporting practices are recognized as a method of disclosure of information about social, performance, environmental and economic of the governance by the corporate sector. This study finding is indicating that corporate sustainability reporting is accepted as the most appropriate subject in present financial and economic systems. This report's findings are also indicating that sustainability practices in the firm improve the financial growth and decision making in respect of the cost of capital, capital budgeting, investment returns and working capital management. However, there are some risks associated with sustainability reporting that can be decreased through the implementation of risk mitigation and management practices. Both Western and Islamic financing systems are working towards sustainable projects in form of short term green loans, community micro-financing projects, renewable energy programs, and others. Also, the bankruptcy element can be decreased through proper implementation of low-risk sustainability financing models in the company which will cause more investor interest and financial returns.","PeriodicalId":245576,"journal":{"name":"CSR & Management Practice eJournal","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115344891","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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