Managerial Efficiency, Corporate Social Performance, and Corporate Financial Performance

Cho, Seong Y.; Lee, Cheol

doi:10.1007/s10551-017-3760-7

Cited by 75 publications

(71 citation statements)

References 46 publications

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“…The main dependent variable (DV) of this study is CSiR. The majority of prior research expresses CSiR as CSR concerns or weaknesses that are either self‐reported by firms or are measured based on their appearance in newspapers, non‐governmental organization reports or lawsuits (Aouadi and Marsat, ; Cho and Lee, ; Mattingly, ). In the former case, performance indicators are voluntarily reported by firms and are not subject to stringent audits (e.g.…”

Section: Methodsmentioning

confidence: 99%

When Boards Matter: The Case of Corporate Social Irresponsibility

Jain

Zaman

2019

British J of Management

172

143

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While academic research has made remarkable progress in understanding corporate social responsibility (CSR), we have scant understanding of corporate social irresponsibility (CSiR). This paper adopts a stakeholder‐agency perspective towards CSiR to ask two related questions: (1) What board‐level structures can monitor management to reduce CSiR? and (2) What are the conditions that render board monitoring more effective? Employing a unique objective measure of CSiR and a sophisticated system generalized method of moments with dynamic panel model on a sample of publicly listed firms in the USA between 2002 and 2015, this paper demonstrates how firms with a specific board‐level governance bundle (i.e. a large, more independent board, with a board CSR committee, a higher proportion of women within boards with frequent director activity) are better equipped to reduce irresponsible behaviours, both in terms of number of irresponsible incidents as well as in terms of their economic costs to the firm. Moreover, the effectiveness of this governance bundle sustains under conditions of high institutional ownership and high board remuneration. This paper has implications for CSR and corporate governance literatures, as well as for managers and policymakers.

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Section: Methodsmentioning

confidence: 99%

When Boards Matter: The Case of Corporate Social Irresponsibility

Jain

Zaman

2019

British J of Management

172

143

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“…First of all, some studies concentrate on explaining the influence of different national CG regimes on companies' CSR practices (Aguilera et al, 2006;Jackson & Apostolakou, 2009;Prior et al, 2008). Secondly, there is a number of research papers on the influence of governance on corporate attention to stakeholders addressing a single governance mechanism, such as ownership structure (i.e., insider ownership, institutional ownership, pension and investment fund ownership, government ownership) (Barnea & Rubin, 2010;Graves & Waddock, 1994;Johnson & Greening, 1999;Prado-Lorenzo et al, 2009;Zahra et al, 1993), board structure (in particular, the proportion of outsiders on the board) (Ayuso & Argandona, 2007;Coffey & Wang, 1998), compensation politics (Mahoney & Thorne, 2005) or takeover protection (Kacperczyk, 2009). Finally, some studies focus on explaining how CSR relates to good (or poor) CG in general (i.e., understood as a particular set of mechanisms) and the company's performance Jamali et al, 2008;.…”

Section: Introductionmentioning

confidence: 99%

Integrating Corporate Social Responsibility and Corporate Governance at the Company Level. Towards a Conceptual Model

Aluchna

Roszkowska-Menkes

2019

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Over the last decade strategic implications of CSR have become one of the most important area of research in social business literature. CSR initiatives are gradually advancing from philanthropic programs to authentic strategies intended to regain trust of society at large and generate social change, by simultaneously creating value for shareholders. The CSR isolated from strategy and governance does not provide a fundamental change towards integrated thinking and shift transition into low-emission and resource-efficient economy. Simultaneously, corporate governance proposing maximization of shareholder value and offering formal procedures, guidelines and evaluation standards cannot longer be an asset for companies if it remains detached from the assumptions of socially and environmentally responsible business. In this conceptual paper we use the results of the literature review to identify four stages of CSR and corporate governance integration.

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“…The manager is the lauded as a success because of his/her ability to meet the needs of stakeholders. And, additionally, deliver a CSR success and also meet the demand of the stockholder by generating a product that has a positive financial performance (Cho & Lee, 2019).…”

Section: Future Directionsmentioning

confidence: 99%