CSR committees, politicians and CSR efforts

Guo, Jun; Yu, Yang

doi:10.1108/ara-06-2021-0107

Cited by 8 publications

(6 citation statements)

References 44 publications

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“…(2021)). Sustainability committees have played a significant role in sustainability disclosure and performance (Guo and Yu, 2022). We add all control variables at the firm level (governance, leverage, size) and country level (GDP growth, country governance, multiple listings and common law) to the first step.…”

Section: Resultsmentioning

confidence: 99%

“…Following the best practice of conducting Heckman tests (Certo et al, 2016), our exclusion restriction in the first step probit model is whether a firm has a sustainability committee (see ). Sustainability committees have played a significant role in sustainability disclosure and performance (Guo and Yu, 2022). We add all control variables at the firm level (governance, leverage, size) and country level (GDP growth, country governance, multiple listings and common law) to the first step.…”

Section: Robustness Checks: Self-reportingmentioning

confidence: 99%

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Are sustainable firms more profitable during COVID-19? Recent global evidence of firms in developed and emerging economies

Jing

Khan²

2022

ARA

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PurposeThis paper investigates whether sustainability performance (SP) protects financial performance (FP) for firms in both developed and emerging economies during the COVID-19-induced economic downturn.Design/methodology/approachUsing a recent sample of firms in 34 countries between 2003 and 2021, the authors employ ordinary least squares regressions, moderations and the Heckman two-step method to test the hypotheses.FindingsFirms with strong SP have higher FP in developed and emerging economies in the upcoming year. During the COVID-19 crisis in 2020–2021, the impact of sustainability on FP is pronounced in developed but not in emerging economies. Furthermore, cross-listings expose firms in emerging economies to high-standard institutional mechanisms in developed economies. Thus, sustainable firms in emerging economies cross-listed on European stock exchanges are more profitable.Practical implicationsFor regulators and standard setters, the global-level comparative analysis helps them find solutions that may assist firms in improving SP globally (e.g. mandatory reporting) and enduring crises resiliently. For institutional investors, the study reveals the relatively different impact of sustainability risk for firms in developed and emerging economies. For practitioners and private sector firms, this study contributes to the dialogue on what makes firms more resilient in COVID-19. Although COVID-19 might be temporary, the lessons learned could protect firms from future crises.Originality/valueThe authors contribute to the contingency perspective between sustainability and financial performance by providing recent empirical evidence in a global setting during the COVID-19 pandemic. The authors demonstrate how different external institutional mechanisms (rule-based governance and relation-based governance) and cross-listing affect the SP-FP relationship during a crisis. The authors extend the knowledge in crisis management literature with a comparative study and fill the research gap on how SP affects FP for firms in emerging economies compared to developed economies.

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Section: Resultsmentioning

confidence: 99%

Section: Robustness Checks: Self-reportingmentioning

confidence: 99%

Are sustainable firms more profitable during COVID-19? Recent global evidence of firms in developed and emerging economies

Jing

Khan²

2022

ARA

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“…However, the study was conducted in the USA, a developed country, leading to a contextual gap in Tanzania's public corporations. Equally, [33] studied CSR Committees, politicians, and CSR efforts in China. The study found that the inclusion of politicians on CSR committees is connected with CSR disclosure and CSR performance.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

The Extent of Accounting Information Disclosure to Public Accounts Committee: Empirical Evidence in Tanzania Public Corporations

Kyando

Abayo

Raphael

2022

ARJASS

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This study examines the extent of accounting information disclosure to Public Accounts Committee in Tanzania Public Corporations. The study is driven by Public Accounts Committee as an oversight organ and accountability challenges facing Tanzania public corporations. The study used positivist philosophical approach. The study was supported by the multiple theories of agency and communication. Data for the analysis were gathered through cross-sectional research using a survey method from members and ex-members of Public accounts Committees from 2005 to 2022. The received valid response from participants were 110. The reliability statistic test of Cronbach Alpha was tested for five measures and confirmed to be 0.693. The study found that the extent of accounting information disclosure was encouraging, yet some outlier measures need to be strategically improved in Tanzania. The study adds knowledge on the accounting information disclosure to politicians and narrow down the contextual gap as most studies on accounting information disclosure were done in developed countries. Besides, the research has practical and policy implications aimed at enhancing the extent of accounting information availability to politicians.

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“…Responsible investing (RI) is getting traction in investment by stakeholders worldwide (Friede et al, 2015). The concerns of the sustainability of the environment, impact on social causes and good governance of the firms practically force firms to subsume RI in investment decision-making in the broader aspect (Guo and Yu, 2022). It can be construed that the investment community finds RI to have financial value (Amel-Zadeh and Serafeim, 2018).…”

Section: Introductionmentioning

confidence: 99%

“…This change of perception makes socially responsible investment or RI a priority for fund managers and asset owners. The inclination of firms for environment, social and governance (ESG) may not be seen as a competitive advantage but as a risk to be incorporated in investment decision-making ARA 32,1 70 (Amel-Zadeh and Serafeim, 2018;Guo and Yu, 2022). A report by Principles for Responsible Investing claims that assets under management worth more than US$120tn are by the signatory of the cause of RI (Pri, 2021;Friede et al, 2015;Eccles et al, 2017).…”

Section: Introductionmentioning

confidence: 99%

Firm's value and ESG: the moderating role of ownership concentration and corporate disclosures

Rastogi

Singh

Kanoujiya

2023

ARA

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PurposeThe study intends to determine the environment, social and governance (ESG)'s impact on the firm's value. In addition, how ownership concentration (OC) and transparency and disclosures (TD) influence the impact of firm's ESG on its valuation (firm value).Design/methodology/approachThe relevant panel data with a sample of 78 Indian firms for five years (2016–2020) are gathered. Both linear and nonlinear connections of firm's ESG with its value are tested. In addition, TD and two components of OC (stakes of promoters and institutional investors) are empirically tested as moderators on the connectivity of the firm's ESG with its value.FindingsThe linear association of firm's ESG with its value is found insignificant. ESG is found to have a positive and nonlinear (U-shaped) impact on the value of the firms. TD does not moderate the connectivity of firm's ESG with its valuation (firm value). The higher stakes of promoters positively affect the association of firm's ESG with the valuation. However, the high stakes of institutional investors retard the ESG's influence on the firm value.Research limitations/implicationsThe study is on Indian firms for five years. A sample of more than one nation and a longer duration (10 years) could have helped better determine the associations among the variables. In turn, these limitations can be the present study's future scope. In addition, the authors find a lack of standardisation of the ESG scales, which is a problem in measuring it. Using standardisation scales of ESG for the analysis can also be future scope on the topic.Practical implicationsThe investors would be wary of the level of ESG to influence the firms' value positively. Managers also need to be careful to have sincere efforts for ESG to reap its rich dividends. Policymakers may take cognisance that despite having board seats (in a few cases), institutional investors negatively (instead of positively as expected) influences the ESG's association with the firm's value. They may bring some guidelines or legislative changes to fix responsibility on the part of the institutional investors.Originality/valueNo study reports the linear and nonlinear association of ESG on the firm's value to observe clearer connectivity between the two. Similarly, no study is observed to have promoters and institutional investors as moderators on the association of firm's ESG with the valuation (firm value). Hence, the present study considerably augments the extant literature on the topic and its contribution.

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CSR committees, politicians and CSR efforts

Cited by 8 publications

References 44 publications

Are sustainable firms more profitable during COVID-19? Recent global evidence of firms in developed and emerging economies

Are sustainable firms more profitable during COVID-19? Recent global evidence of firms in developed and emerging economies

The Extent of Accounting Information Disclosure to Public Accounts Committee: Empirical Evidence in Tanzania Public Corporations

Firm's value and ESG: the moderating role of ownership concentration and corporate disclosures

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