How does corporate social performance affect investment inefficiency? An empirical study of China market

Ho, Kung‐Cheng; Li, Huimin; Gong, Yujing

doi:10.1016/j.bir.2021.06.016

Cited by 17 publications

(22 citation statements)

References 36 publications

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“…Study outcomes reveal a significant association between CSR and investment performance of firms quoted in TSE. Ho et al (2021) studied on 'How does corporate social performance affect investment inefficiency? The study examines the association amid corporate social performance (CSP) and IE in the Chinese stock market.…”

Section: Stakeholders Theorymentioning

confidence: 99%

Effect of Corporate Social Responsibility on Investment Efficiency of Quoted Oil and Gas Firms in Nigeria

Ibrahim

Onyekachi

2021

Int. J. Res. Granthaalayah

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This study examined effect of corporate social responsibility (CSR) on investment efficiency of quoted oil and gas firms in Nigeria. The study employed Ex post facto research design. The sample size of seven (7) oil and gas firms was derived from the population of the quoted twelve (12) oil and gas firms in Nigeria. Judgmental approach was employed during the sampling procedure. The study used secondary data sourced from the annual reports of the quoted oil and gas firms in Nigeria Stock Exchange fact books of official lists covering a ten-year period (2010-2019). The study employed Multiple Regression Model as the technique of data analysis with the aid of SPSS 23 statistical software. Analysis of findings showed that CSR charitable donation expenditure, CSR expenditure on education and CSR societal expenditure reveal significant relationship with investment efficiency of oil and gas firms in Nigeria. Nevertheless, CSR health expenditure and CSR environmental expenditure show insignificant effect on investment efficiency of oil and gas firms in Nigeria. The study also reveals that there is significant relationship between CSR sports expenditure and investment efficiency of oil and gas firms in Nigeria. With respect to the findings, the study recommends that the oil and gas firms should boost and monitor their CSR charitable donation expenditure, CSR on health expenditures, CSR environmental and CSR sport expenditures and observe them closely since they reveal negative effect. The study also recommends that CSR expenditure on education and CSR societal expenditure should be upheld and sustained since they reveal significant positive effect on investment efficiency of oil and gas firms in Nigeria.

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Section: Stakeholders Theorymentioning

confidence: 99%

Effect of Corporate Social Responsibility on Investment Efficiency of Quoted Oil and Gas Firms in Nigeria

Ibrahim

Onyekachi

2021

Int. J. Res. Granthaalayah

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“…The trend of stock price movement resembles random walks or lacks a standard (Ligot et al, 2021;Lou et al, 2021). Many factors influence whether a market is efficient or inefficient (Ho et al, 2021;Teplova & Tomtosov, 2021). Market efficiency is affected by precise information.…”

Section: Discussionmentioning

confidence: 99%

COVID-19 on the Telecommunications Industry Stock Market Performances: An Event-Study Approach

Ariantika

Davianti

2021

IJSSB

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This study aims to analyze the knowledge quality of the COVID-19 pandemic event regarding the Indonesian stock market's performance as seen from the average abnormal return before and after the first case of COVID-19 Indonesia on March 2, 2020. The research design used in this study is an event study. Three samples used in this research are companies engaged in the telecommunications subsector in the Indonesia Stock Exchange. The technique of sampling that was used in the research was purposive sampling. The study focused on the window period 15 days before and 15 days after the event date. Hypothesis testing is done by using paired sample t-test on data that is typically distributed and the one-sample Wilcoxon signed-ranked test on data that is not yet normally distributed. The result obtained is that there are no significant differences before and after the announcement of the first case of COVID-19 in Indonesia.

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“…In this case, stakeholders are concerned with the companies' profitability and wield a more intense call for CSR. Additionally, Ho et al (2022) stated that the supplemental information from reported social responsibility of companies might facilitate communication with stakeholders.…”

Section: Introductionmentioning

confidence: 99%

“…Benlemlih and Girerd-Potin (2017) supported with a similar paper in the US market. Also, a previous paper from Ho et al (2022) provided CSR publishing as additional information that may assist the business in engaging with stakeholders and eliminating informational asymmetries; as a result, CSR disclosure can solve the problem of inefficiencies investments more efficiently. It will be interesting, especially for non-financial companies with more significant environmental/social impact than other sectors.…”

Section: Introductionmentioning

confidence: 99%

“…This study also targeted the women director variable as a moderating variable since several research results have proven that companies led by women tend to have more concerns for the environment so that the company's CSR disclosures can increase, which, in the end, makes investment more efficient since, among stakeholders and managers, the extent of asymmetrical information can be suppressed. In addition, this research conducted by the authors refers to the studies by Ho et al (2022), Hadya and Susanto (2018), and Ullah et al (2020).…”

Section: Introductionmentioning

confidence: 99%

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Amplifying the Influence of CSR Disclosure on Investment Inefficiency by Choosing Woman Directors: Is it Effective?

Saputri

Agustina

2022

JAI

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Research Aims: The article was written with the intention to inspect the amplified impact of CSR disclosure by choosing women on the boards of directors in the companies on investment inefficiency. Design/Methodology/Approach: The sample studies were non-financial companies listed on IDX during 2018-2019 that published sustainability and annual reporting.Research Finding: This research revealed that, in the latest two years, overinvestment was done by most of the sample companies (76%). Hereafter, there was a negative effect on investment inefficiency due to the increasing corporate social responsibility disclosure. Nevertheless, women on the board of directors had no effect as moderating variable.Theoretical Contribution: This study adds literature on investment inefficiency issues, especially on amplifying the influence of corporate social responsibility disclosure on investment inefficiency by choosing women on the board of directors.Research Limitation: Very limited position on the board of directors for women in companies causes it to have no effect as a moderating variable. Moreover, this research did not categorize investment efficiency in the overinvestment and underinvestment schemes.

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How does corporate social performance affect investment inefficiency? An empirical study of China market

Cited by 17 publications

References 36 publications

Effect of Corporate Social Responsibility on Investment Efficiency of Quoted Oil and Gas Firms in Nigeria

Effect of Corporate Social Responsibility on Investment Efficiency of Quoted Oil and Gas Firms in Nigeria

COVID-19 on the Telecommunications Industry Stock Market Performances: An Event-Study Approach

Amplifying the Influence of CSR Disclosure on Investment Inefficiency by Choosing Woman Directors: Is it Effective?

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