CSR Structures: Evidence, Drivers, and Firm Value Implications

Bouslah, Kais; Hmaittane, Abdelmajid; Kryzanowski, Lawrence; M’Zali, Bouchra

doi:10.1007/s10551-022-05219-6

Cited by 25 publications

(22 citation statements)

References 120 publications

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“…Moreover, future research could explore CSR structures [53], i.e., how managers combine different CSR activities to define a firm's CSR commitment, instead of using only the level of CSR engagement. Additionally, it might be interesting to use other corporate sustainability measures than the MSCI ESG ratings and to extend the investigation to non-US firms and to more recent data.…”

Section: Discussionmentioning

confidence: 99%

Corporate Sustainability and Cost of Equity Capital: Do Managerial Abilities Matter?

et al. 2022

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This paper investigates whether a firm’s managerial ability affects the link between a firm’s cost of equity capital and corporate sustainability. We test our predictions by using a large U.S. sample of 17,389 firm-year observations. Our findings show that only when managerial ability is high, corporate sustainability significantly reduces a firm’s implied cost of equity capital. An important implication of our findings is that firms with high managerial abilities and limited sustainability commitment are encouraged to pursue or initiate more sustainability activities owing to their negative effect on a firm’s cost of equity capital.

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Section: Discussionmentioning

confidence: 99%

Corporate Sustainability and Cost of Equity Capital: Do Managerial Abilities Matter?

et al. 2022

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“…Slack resources can enable enterprises to make timely adjustments to their policies and strategies and help further stabilize their earnings, which may provide more policy and financial support for the fulfillment of CSR (Wasiuzzaman et al, 2022). Higher financial slack tends to diversify across multiple CSR dimensions (Bouslah et al, 2022). High-discretion slack resources allow R&D-intensive firms to be more balanced in their CSR (Fu et al, 2020).…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Firm Performance and Corporate Social Responsibility: Spatial Context and Effect Mechanism

2023

Sage Open

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This study investigates the effect of firm performance on corporate social responsibility (CSR) in a specific spatial context. The results for a sample of 1,557 listed companies in China suggest that a firm’s CSR performance level is influenced by that of nearby firms. This study also confirms the indirect link between financial and CSR performance through the mediating role of institutional and executive shareholding rates. In addition, the empirical evidence in this study not only supports the spatial context-sensitive thesis but, more importantly, proposes a spatiotemporal context-sensitive thesis. It provides strong empirical support for the true relative value of the spatiotemporal context affecting CSR performance, which yields important theoretical, methodological, and policy implications.

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“…It is a key point to connect internal and external governance, and an important reference that financial asset management corporations must consider when developing their businesses. The corporate social responsibility of American listed companies will have a positive impact on corporate value and improve business performance [ 26 ]. Financial asset management corporations with strong competitiveness and a large volume insist on publishing social responsibility reports to the community, including the four national financial asset management corporations and Shanghai State-owned Asset Management Co., Ltd.…”

Section: Analysis On the Competitiveness Of Financial Asset Managemen...mentioning

confidence: 99%

Governance and competitiveness evaluation of China’s financial asset management corporations

Huang,

2023

PLoS ONE

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With the development of non-performing assets market and the requirement of maintaining national financial security and stability, asset management corporations (AMC) have set up in recent years, facing the dilemma of governance reform and competitiveness improvement. This paper puts forward the Governance-Performance-Competitiveness theory of asset management corporations, and constructs the comprehensive competitiveness evaluation index system of based on internal and external governance mechanisms, and studies the factors and degrees of internal and external governance affecting competitiveness by combining principal component analysis method and grey correlation analysis method. The empirical results show that the asset scale and profitability of asset management corporations directly determine their competitiveness level to a large extent, and the correlation between external governance mechanism and competitiveness is stronger than that of internal governance mechanism. Clustering and grouping are conducted based on the size of competitiveness, and China’s local asset management corporation system presents a diamond structure. China’s local financial asset management corporations should strengthen the top-level design of internal governance, attach importance to external governance, expand and strengthen the asset scale, and carry out full-chains business while implementing a differentiated development model to achieve sustainable development when adhering to the principal business of non-performing assets.

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CSR Structures: Evidence, Drivers, and Firm Value Implications

Cited by 25 publications

References 120 publications

Corporate Sustainability and Cost of Equity Capital: Do Managerial Abilities Matter?

Corporate Sustainability and Cost of Equity Capital: Do Managerial Abilities Matter?

Firm Performance and Corporate Social Responsibility: Spatial Context and Effect Mechanism

Governance and competitiveness evaluation of China’s financial asset management corporations

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