Linkage Between Corporate Social Performance And Stock Return: An Evidence From Financial Sector Of Bangladesh

Ahmed, Sarwar Uddin; Abdullah, Mohammad; Ahmed, Samiul Parvez

doi:10.1353/jda.2017.0045

Cited by 17 publications

(16 citation statements)

References 39 publications

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“…According to the empirical findings, positive CSR event announcements lead to positive abnormal stock returns, while negative CSR event announcements result in negative abnormal stock returns. Ahmed et al [14] indicate that the CSR performance and stock returns have significant and positive effects.…”

Section: Studies On Csr Reports and Stock Marketsmentioning

confidence: 99%

“…This disclosure requirement sets the tone for the development of CSR reports in Taiwan [9]. In contrast with overseas literature [8,[10][11][12][13][14], there are few studies in Taiwan regarding the roles and influences of CSR reports in the local stock market. Will this mandatory requirement for CSR reporting rescue the confidence of consumers and the investing public?…”

Section: Introductionmentioning

confidence: 99%

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A Study of the Relationship between Corporate Social Responsibility Report and the Stock Market

Chiu

Chen

2020

Sustainability

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This study mainly investigates the relationship between corporate social responsibility (CSR) reporting and the reaction in the stock market. Specifically, we utilize the data from Taiwanese stock market from 2012 to 2017 to examine whether the CSR report disclosed by the listed companies on the Taiwan Stock Exchange and the Taipei Exchange will cause abnormal returns on the short-, mid- or long-term horizon. The empirical results demonstrate that companies which disclose their CSR reports generate higher and more positive mid- to long-term abnormal returns than undisclosed companies. In addition to filling the gap of previous studies, this study also examines whether CSR reports mitigate the information asymmetry between management and stakeholders. Companies disclosing their CSR reports will boost the confidence of investors and lead to higher stock return valuations.

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Section: Studies On Csr Reports and Stock Marketsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

A Study of the Relationship between Corporate Social Responsibility Report and the Stock Market

Chiu

Chen

2020

Sustainability

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“…Stakeholders' positive perception and satisfaction help firms achieve and sustain CA in the long run (Di Bella and Al-Fayoumi, 2016;Ferraris et al, 2018). Previous studies based on stakeholder approach have established CSRP as a driver of OP (Shukla and Agarwal, 2017;Ahmed et al, 2017;Ferraris et al, 2018;Buallay et al, 2020). Talapatra et al (2020) in their study argued that social practices are the key driver of both the financial and non-financial performance of a firm whereas financial performance can be linked with revenue generated through sales volumes and non-financial can be seen as employee satisfaction and CS as well.…”

Section: Theoretical Background and Hypotheses Developmentmentioning

confidence: 99%

Does a retailer's performance depend on CSR practices? A stakeholder theory perspective from developing economy

Kumar

Singh

2021

BIJ

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PurposeThe study aims to examine the relationship between retailer's performance and corporate social responsibility (CSR) practices in Indian context. The article introduces a new conceptual model considering the parameters as per the stakeholder theory perspective.Design/methodology/approachThe authors conducted empirical research with CSR practices (CSRP) and other parameters to evaluate the retailers' performance using stakeholder theory. The authors present the results from 292 valid responses from the Indian retailers. The study used structured equation modeling (SEM) to present the analysis and the results.FindingsFindings indicate that CSRP along with additional constructs loyalty (L), reputation (R), customer satisfaction (CS) and competitive advantage (CA) have positive and significant impact on organizational performance (OP).Practical implicationsThe framework will serve as a guiding tool to the management of the retail outlets to examine carefully the link among CSRP with other variables presented in the study and subsequently to the retail outlet performance. The retailers must be more focused on the expectations and demands of the customers concerning products and services for better growth of the firms.Originality/valueThe uniqueness of the study lies in “CSR practices enabled integrated model” to examine the performance of the organizations. The proposed theoretical model would add value to the existing literature to help the retailers in process of their performance improvement.

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“…Others have adopted the shareholder value theory, which focuses on maximising the interests of companies' investors, to examine the link between CSR and financial performance (Mujahid and Abdullah, 2014;Geetika, Akansha and Tanu, 2017;Ahmed, Abdullah and Ahmed, 2017). Mujahid and Abdullah (2014) analysed the return on equity, return on assets, and earning per share data from the 2011 annual reports of 10 firms with high CSR disclosures and 10 firms with no CSR in Pakistan, and concluded a positive relationship between the firms' CSR and financial performance.…”

Section: Positive Negative Mixed and Intricate Links Between Csr And Financial Performancementioning

confidence: 99%

The relationship between CSR activity and sales growth in the UK retailing sector

Nyame-Asiamah

Sughra

2019

SRJ

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Purpose This paper aims to examine the relationship between corporate social responsibility (CSR) and sales revenue of two retail companies (Marks & Spencer and Tesco) in the UK to understand how CSR activities can influence retail sales growth. Prior studies have used different theoretical and methodological approaches to report the relationships between CSR and financial performance generally as positive, negative, mixed or neutral, and these are yet to be conclusive. Design/methodology/approach Clarifying the existing inconclusive results, the authors deduced donations, community work and environmental responsibility CSR activities from the literature and mapped them out onto sales revenue to formulate conceptual propositions. The authors extracted the corresponding data from the companies’ websites and financial reports, focusing on their 2006-2014 CSR and sales activities, and statistically analysed the longitudinal data with Pearson correlation coefficient. Findings The findings revealed positive correlations between donations and sales revenue for the two companies, which suggest that retailers’ philanthropic activities can boost sales levels overtime. Whereas the findings on the community work and the environmental-friendly activities relate either positively or negatively to sales revenue for the companies. Practical implications There is an indication for retail managers to pursue philanthropic activities to effect sales growth. Retailers exhibiting features of Marks & Spencer can commit to community investment to increase revenue over time, whereas those showing features of Tesco can pledge environmental-friendly strategies to influence a stronger correlation between carbon emissions and sales revenue levels. Originality/value The outcomes support the extant findings that donations can improve retail sales performance, while community work and the environmental-friendly activities do not necessarily improve sales growth in the retail sector but suggest that retailers can exploit more of the ones that benefit their sales revenue levels. Theoretically, the study supports the stakeholder theory’s influence on firms’ obligation to charitable cause, community investment and environmental-friendly responsibility as CSR activities that make retailers morally responsible to their customers and society in general, whereas the sustainable development model was instrumental in retailers’ CSR activities relating to environmental protection.

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Linkage Between Corporate Social Performance And Stock Return: An Evidence From Financial Sector Of Bangladesh

Cited by 17 publications

References 39 publications

A Study of the Relationship between Corporate Social Responsibility Report and the Stock Market

A Study of the Relationship between Corporate Social Responsibility Report and the Stock Market

Does a retailer's performance depend on CSR practices? A stakeholder theory perspective from developing economy

The relationship between CSR activity and sales growth in the UK retailing sector

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