企业社会责任是否有助于金融部门的金融稳定?可持续发展委员会的调节作用

IF 3.9 Q1 BUSINESS, FINANCE Journal of Applied Accounting Research Pub Date : 2023-05-15 DOI:10.1108/jaar-12-2022-0329
Nurlan S. Orazalin, C. Kuzey, Ali Uyar, Abdullah S. Karaman
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引用次数: 0

摘要

目的本研究在可持续性委员会的调节下,检验企业社会责任(CSR)绩效是否能预测金融部门的金融稳定性。设计/方法/方法样本涵盖汤森路透Eikon数据库中包含的金融行业公司。这些分析基于2002年至2019年期间的8840个公司年观测数据,并执行了国家-公司-年度固定效应(FE)回归分析。研究结果表明,企业社会责任举措对金融业的整体财务状况和金融业的三个独立子行业都有贡献。事实证明,这种重要的联系适用于所有子行业,即保险、银行和投资银行。此外,适度分析揭示了可持续发展委员会在连接企业社会责任绩效(CSRP)与FS方面的突出作用。研究的局限性/意义研究结果强调,满足社会的期望会在金融部门以更大的FS的形式获得回报。实践启示研究结果表明,参与企业社会责任有助于金融部门企业管理风险并减轻破产风险。这是因为企业社会责任绩效促进了企业对利益相关者的问责制和透明度。研究结果有助于激励管理者更认真地追求企业社会责任目标,以确保企业社会责任。适度分析意味着可持续发展委员会制定政策和实践,以整合公司的非财务和财务目标。虽然先前的研究已经检验了金融部门的企业社会责任与财务绩效(FP)之间的联系,但这些研究在很大程度上忽略了风险调整绩效方面的FS。此外,以往的研究主要集中在银行业,但作者集中在银行、保险和投资银行部门。
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Does CSR contribute to the financial sector's financial stability? The moderating role of a sustainability committee
PurposeThis study tests whether corporate social responsibility (CSR) performance is a predictor of the financial sector's financial stability (FS), with the moderation of a sustainability committee.Design/methodology/approachThe sample covers financial sector firms included in the Thomson Reuters Eikon database. The analyses are based on 8,840 firm-year observations for the years between 2002 and 2019 and the country-firm-year fixed-effects (FE) regression analysis is executed.FindingsThe results reveal that CSR initiatives contribute to the financial sector's FS as a whole and the sector's three individual sub-sectors. This proven significant association holds for all sub-sectors, namely insurance, banking, and investment banking. Moreover, the moderation analysis reveals the prominent role of a sustainability committee in bridging CSR performance (CSRP) with FS.Research limitations/implicationsThe findings highlight that meeting societies' expectations pays back in the form of greater FS in the financial sector.Practical implicationsThe findings suggest that CSR engagement helps the financial sector firms manage their risks and alleviates exposure to insolvency. This is because CSR performance promotes firms' accountability and transparency toward stakeholders. The results help motivate managers to pursue CSR goals more seriously to ensure FS. The moderation analysis implies that sustainability committees develop policies and practices to integrate the non-financial and financial goals of the firm.Originality/valueAlthough prior studies have examined the link between CSR and financial performance (FP) in the financial sector, those studies have largely ignored FS in terms of risk-adjusted performance. Besides, prior studies have exclusively focused on the banking sector, but the authors concentrate on the banking, insurance, and investment banking sectors.
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来源期刊
CiteScore
6.00
自引率
13.30%
发文量
44
期刊介绍: The Journal of Applied Accounting Research provides a forum for the publication of high quality manuscripts concerning issues relevant to the practice of accounting in a wide variety of contexts. The journal seeks to promote a research agenda that allows academics and practitioners to work together to provide sustainable outcomes in a practice setting. The journal is keen to encourage academic research articles which develop a forum for the discussion of real, practical problems and provide the expertise to allow solutions to these problems to be formed, while also contributing to our theoretical understanding of such issues.
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