Do Announcements About Corporate Social Responsibility Create or Destroy Shareholder Wealth? Evidence from the UK

Clacher, Iain; Hagendorff, Jens

doi:10.1007/s10551-011-1004-9

Cited by 84 publications

(70 citation statements)

References 41 publications

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“…In essence, this index comprises the 100 most highly capitalised blue chip companies listed on the London Stock Exchange. Although the purpose of this study is to examine CSR through sport, we opted for the FTSE100, rather than the reasonable choice of FTSE4Good, which has been selected in similar studies (for example, Clacher and Hagendorff, 2012;Knox et al, 2005;McDonald et al, 2009). This decision was made for two main reasons.…”

Section: Methodsmentioning

confidence: 99%

Corporate social responsibility through sport: a longitudinal study of the FTSE100 companies

Bason

Anagnostopoulos

2015

Sport, Business and Management: An International Journal

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Purpose -Under growing public scrutiny of their behaviour, the vast majority of multinational enterprises have been undertaking significant investments through corporate social responsibility in order to close legitimacy gaps. The purpose of this paper is to provide a descriptive account of the nature and scope of MNEs' CSR programmes that have sport at their core. More specifically, the present study addresses the following questions: (1) How do FTSE-100 firms utilise sport as part of their CSR agendas? (2) How do different industries have different approaches to CSR through sport? and (3) Can the types of CSR through sport be classified?Design/methodology/approach -Centred on legitimacy theory and exploratory in nature, the study employed a content analysis method, and examined three types of document from each of the FTSE100 firms, namely, annual reports, annual reviews and CSR reports over the ten-year period from 2003 to 2012. In total, 1,473 documents were content analysed, thereby offering a sound representation of CSR disclosure of the FTSE100. 2 of reliable conclusions problematic. Particularly, the lack of an explicit focus on longitudinality is a typical limitation, meaning that no conclusions can be made regarding the trend. The study outlined in this paper offers the most comprehensive longitudinal study of CSR through sport to date, and thus contributes to the increasing volume of literature that examines the application of CSR in relation to the sport sector.

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Section: Methodsmentioning

confidence: 99%

Corporate social responsibility through sport: a longitudinal study of the FTSE100 companies

Bason

Anagnostopoulos

2015

Sport, Business and Management: An International Journal

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“…There is also debate on the extent of such value enhancement. As a reference point, Clacher and Hagendorff (2012) observe mixed reactions to the announcement of a firm's inclusion in the UK FTSE4Good CSR index.…”

Section: Introductionmentioning

confidence: 99%

The role of board gender and foreign ownership in the CSR performance of Chinese listed firms

McGuinness

Vieito

Wang

2017

Journal of Corporate Finance

693

473

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China's recent promotion of Corporate Social Responsibility (CSR) has coincided with a marked increase in the number of Chinese listed firms attracting female board members and foreign equity investors. Using Rankins' (RKS) ratings over the 2009 to 2013 period, we show that greater gender balance in top-management supports stronger CSR performance. This finding broadens gender-based accounts emphasizing social networks (Westphal and Milton, 2000), Critical Mass Theory (Kramer et al., 2006;Bear et al., 2010;and Soares et al., 2011) and team dynamics (Woolley et al., 2010;and Hoogendoorn et al., 2013). Findings also reveal stronger CSR performance in firms with a female CEO. Female leadership thus appears to be just as important as gender mix in driving CSR change.CSR ratings are also increasing in foreign ownership levels. We examine whether a political-networking motivation underlies foreign investment (Du and Girma, 2010;Liu et al., 2014a;Lin et al., 2015;and Jiang and Kim, 2015). We argue that qualified foreign institutional investors (QFIIs) deploy socialengagement in non-SOEs to build competitive advantage. But in SOEs, where strong political networks already exist, QFIIs have less incentive to boost CSR ratings. However, results indicate little difference in the social ratings of QFII-invested SOEs and non-SOEs.Additionally, we confirm the Barnea and Rubin (2010) contention of an inversion in social ratings at entrenched managerial ownership levels. Non-linear rating effects also emerge in relation to state ownership (Li et al., 2013). Finally, CSR performance exhibits positive (negative) relation with a listed entity's size and age (leverage and lagged return-on-equity) but virtually no connection with independent board representation.

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“…Internationalization of a business be concerned with foreign markets and how to enter them (Carroll and Shabana, 2010).The massive empirical studies (e.g., Brouthers and Hennart, 2007;Oviatt and McDougall, 2005;Yamin and Sinkovics, 2006;Werner, 2002) show the significance of selecting the precise international market entry mode. Today, undoubtedly, one of the most important drivers of internationalization is the rapid growth of digital entrepreneurship, in particular of informationand communication technology (hereafter acronym as ICT) (Clacher and Hagendorff, 2012). The digital entrepreneurship has facilitated traditional business interactions and has also offered new ways of doing business in the form of EBSs (Schwens and Kabst, 2009).…”

Section: Introductionmentioning

confidence: 99%

The deployment and internationalization speed of e-business in the digital entrepreneurship era

Ziyae¹,

Sajadi²,

Mobaraki³

2014

J Glob Entrepr Res

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Digital Entrepreneurship has revolutionized worldwide businesses. Worked by the fast development of computer knowledge, Electronic Businesses (here in after acronym as EBSs) are experiencing the increasing growth in the global economy. The purpose of this paper is to investigate the effect of entrepreneurs' international experience, innovation capability, and market capability on the internationalization speed of EBSs. The current study is considered as an empirical research and the research methodology is descriptive-correlative type. The data collected fromSmall and Medium-Sized Enterprises (here after acronym as SMEs) whose activities are partially internet-based and have involved in the international business processes. A total of 135SMEsin the textile cluster were classified as the internet-based businesses. To test the research hypotheses, the study used Structure Equation Modeling (SEM) and the collected data were subjected to correlational analysis and path analysis. The results revealed that the speed of foreign market entry by EBSs is positively affected by entrepreneurs' international experience, business innovation capability, and marketing capability. Finally, this study proposes insights for future studies that could consider the implications of speedy entry into foreign markets by EBSs.

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Do Announcements About Corporate Social Responsibility Create or Destroy Shareholder Wealth? Evidence from the UK

Cited by 84 publications

References 41 publications

Corporate social responsibility through sport: a longitudinal study of the FTSE100 companies

Corporate social responsibility through sport: a longitudinal study of the FTSE100 companies

The role of board gender and foreign ownership in the CSR performance of Chinese listed firms

The deployment and internationalization speed of e-business in the digital entrepreneurship era

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