Corporate social responsibility, product market perception, and firm value

Bardos, Katsiaryna Salavei; Ertugrul, Mine; Gao, Lucia Silva

doi:10.1016/j.jcorpfin.2020.101588

Cited by 153 publications

(114 citation statements)

References 67 publications

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“…The literature on CSR activities has related firms' economic goals to their social responsibilities [3][4][5]. Because firm managers' main objective is to generate profit while reducing costs, it is natural for firm managers to act in accordance with the needs of shareholders [6,7].…”

Section: Introductionmentioning

confidence: 99%

The Effect of ESG Performance on Tax Avoidance—Evidence from Korea

2021

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We analyzed whether a firm’s engagement in socially responsible activities, as measured by environmental, social, and corporate governance (ESG) scores, influences their tendency to avoid tax in the Korean financial market. We found a negative relationship between Korean firms’ ESG scores and tax avoidance in terms of book-tax income difference during the sample period between 2011 and 2017. This result implies that firms with good CSR performance would tend not to manipulate taxable profits, which is in line with corporate culture theory. More interestingly, this trend has become more apparent for chaebol-affiliated firms, a special type of Korean conglomerate, than non-chaebol firms.

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Section: Introductionmentioning

confidence: 99%

The Effect of ESG Performance on Tax Avoidance—Evidence from Korea

2021

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Section: Corporate Social Responsibility and Firm Valuementioning

confidence: 99%

“…Conflict resolution has a positive impact on corporate value [18]. Nevertheless, a great deal of research provides arguments for a positive impact of CSR on firm value [1,17]. Based on the second theory, this paper discusses the influence of CSR on firm value from two aspects, namely corporate earnings and firm risk, among which firm risk can be divided into "systematic" risk and "idiosyncratic" risk.…”

Section: Corporate Social Responsibility and Firm Valuementioning

confidence: 99%

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Corporate Social Responsibility and Firm Value: The Moderating Effects of Financial Flexibility and R&D Investment

Guo

Hou

2020

Sustainability

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Despite the significance of corporate social responsibility (CSR), there remains an extensive debate regarding its implications for firm value. This study examines the moderating effects of financial flexibility and R&D investment on CSR and firm value. Using multiple archival data of 2311 companies from 2010 to 2016, our study finds that CSR is a “double-edged sword” for firm value; specifically, CSR significantly increases systematic risk but reduces firms’ idiosyncratic risk as well as the Tobin’s q. Besides, the results indicate that financial flexibility and R&D investment significantly reduce the negative correlation between CSR and Tobin’s q, the difference between the two being that financial flexibility can reduce the positive relationship between CSR and system risk, while R&D spending can reduce the negative relationship between CSR and idiosyncratic risk. By adding new aspects to the discussion about how CSR affects firm value, the results speak to both theorists and practitioners.

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“…Badan Bardos, Ertugrul, & Gao (2020). Gursoy dkk (2019) mengkaji tentang persepsi warga atas inisiatif tanggung jawab sosial perusahaan hotel dan dampaknya terhadap sentimen warga terhadap masyarakat dan dukungan untuk pengembangan pariwisata tambahan.…”

Section: Pendahuluanunclassified

Persepsi Masyarakat Sekitar Terhadap Corporate Social Responsibility Berlandaskan Konsep Tri Hita Karana Pada The Kayon Resort Ubud

Yanti

Indriani

Damayanti

et al. 2020

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This study aims to describe the implementation of Corpotare Social Responsibility and community perceptions based on the Tri Hita Karana concept at The Kayon Resort Ubud, which is measured based on the Pawongan, Palemahan, and Parahyangan variables. This research was conducted at The Kayon Resort Ubud. The number of samples used in this study were 100 people as respondents. Data collection was carried out by distributing questionnaires and interviews. Data analysis in this study uses qualitative data analysis techniques and quantitative data using a combination method (mix method). The results of this study indicate that the implementation of Corpotare Social Responsibility and community perceptions based on the Tri Hita Karana concept at The Kayon Resort Ubud are assessed based on Pawongan, Palemahan, and Parahyangan variables that have been done well. Based on the results of the analysis, The Kayon Resort Ubud hotel must maintain and enhance the Corporate Social Responsibility program based on the Tri Hita Karana concept optimally.

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Corporate social responsibility, product market perception, and firm value

Cited by 153 publications

References 67 publications

The Effect of ESG Performance on Tax Avoidance—Evidence from Korea

The Effect of ESG Performance on Tax Avoidance—Evidence from Korea

Corporate Social Responsibility and Firm Value: The Moderating Effects of Financial Flexibility and R&D Investment

Persepsi Masyarakat Sekitar Terhadap Corporate Social Responsibility Berlandaskan Konsep Tri Hita Karana Pada The Kayon Resort Ubud

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