<scp>CSR</scp> and investment efficiency in Western European countries

Khediri, Karim Ben

doi:10.1002/csr.2151

Cited by 30 publications

(25 citation statements)

References 72 publications

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“…These findings are similar to previous studies, suggesting that firm size positively affects corporate investment efficiency (Benlemlih and Bitar, 2018;Cook et al, 2019). In line with our expectations, as well as prior research into corporate investments (Khediri, 2021), the coefficients on ROTA, LEV, and NEG have negative signs in Panels A and B. The results presented in the third version of our model (Panel C) are different, but in the case of NEG, the estimated coefficient is statistically insignificant.…”

Section: Regression Resultssupporting

confidence: 93%

“…Slightly stronger but also negative correlations were determined between E and TQ, and E and LEV. Interestingly, the correlation coefficient between SIZE and LTI was positive, similar to the relationship between SIZE and E. These findings are consistent with the results reported by the authors of recent correlation analyses between firm size and CSR measure (eBenlemlih and Bitar, 2018;Cook et al, 2019;Khediri, 2021).…”

Section: Regression Resultssupporting

confidence: 91%

“…Based on the prior research dedicated to CSR activities, one can observe inconclusive results. On the one hand, there is a positive relationship between CSR and investment efficiency, as well as long-term stock returns (Cook et al, 2019;Khediri, 2021;Samet and Jarboui, 2017;Shahzad et al, 2018). On the other hand, CSR reduces both accounting and stockbased corporate performance (Bhandari and Javakhadze, 2017).…”

Section: Regression Resultsmentioning

confidence: 99%

“…According to prior research (e.g. Khediri, 2021;Cook et al, 2019;Shahzad et al, 2018;Bhandari and Javakhadze, 2017), we estimate the following model with a few accounting and market measures that might potentially affect the company's long-term investments:…”

Section: Methodsmentioning

confidence: 99%

“…We expect a negative sign. Following various authors (Khediri, 2021;Shirasu and Kawakita, 2020), the financial leverage was calculated by using the ratio of the book value of total debt to the book value of equity. A negative sign is expected.…”

Section: Methodsmentioning

confidence: 99%

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The European Union’s Environmental Policy and Long-Term Investments of Enterprises

Janicka¹,

Sajnóg²

2021

ERSJ

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Purpose: Current European Union efforts are focused on creating regulations that are conducive to long-term investor commitment, i.e. they are fighting short-termism on financial markets. Enterprises that implement the European Union's environmental policy are seen to engage long-term financial resources, which should therefore dominate the structure of their assets. The primary goal of the paper is to ascertain whether a company's high environmental performance (E-index) is positively correlated with the value of its long-term investments. Design/Methodology/Approach: The empirical research is carried out in two parts. The first part presents the correlation between the company's E-index and the share of its long-term investments in total assets. For comparison, we examine these relationships with ESG, as well as the S and G scores. In the second part, we assess the character and strength of the impact of the company's E-index on the value of its long-term investments. This study includes companies listed on 14 Western European stock exchanges, covering the period 2002 to 2019. Findings: Contrary to our assumptions, we find, first, that the environmental index is negatively related to the share of long-term investments in assets in most countries. Second, using panel dataset for the analysed European Union markets, we find evidence that the environmental index negatively affects the value of long-term investments, indicating that the current actions undertaken by the European Union have no empirical justification. Practical Implications: The results of the research may be useful for researchers, practitioners, and regulators from the European Union and the European Union countries in understanding the relationship between a company's E-index and its investments. Originality/Value: There is no research which proves that the increase in long-term investments, and thus the increase in the availability of long-term capital, is of key importance for enterprises, so our research is pioneering and unique.

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Section: Regression Resultssupporting

confidence: 93%

Section: Regression Resultssupporting

confidence: 91%

Section: Regression Resultsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

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The European Union’s Environmental Policy and Long-Term Investments of Enterprises

Janicka¹,

Sajnóg²

2021

ERSJ

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What are the factors that most influence the formation of workers' labor values in order to achieve sustainable development in Latin America?

López‐Concepción,

Gil‐Lacruz,

Saz‐Gil

et al. 2024

Bus Strat Env

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This research delves into the formation of labor values in Latin America, exploring the complex interaction between socio‐demographic characteristics (gender, age, and educational level), well‐being (happiness, health, and life satisfaction), and macroeconomic factors (wealth, equity, and labor market stability). With microdata drawn from the World Values Survey, the study employs Logit and Blinder–Oaxaca decomposition models to analyze data from Brazil, Chile, Colombia, Mexico, and Peru during 2005–2019. It uncovers the significant influence of worker happiness on labor values, especially among self‐employed individuals, and highlights happiness as a critical factor in varying labor values related to different well‐being dimensions. These insights reveal the intricate determinants of work values in the region, providing valuable implications for talent management and policy development aimed at fostering sustainable development through positive labor values.

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Stakeholder engagement, Csr development and Sdgs compliance: A systematic review from 2015 to 2021

López‐Concepción

Gil-Lacruz

Saz‐Gil

2021

Corp Soc Responsibility Env

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The conceptualization of the stakeholders of the companies for the fulfillment of the objectives of sustainable development is controversial, even more so, if it is approached from the perspective of corporate social responsibility and the psychology of the employees and their behavior. The existing literature and knowledge on the relationship among the stakeholder approach, corporate social responsibility and the achievement of the SDGs remain unstructured and fragmented. The objective of the manuscript is to identify and systematize scientific research on the stakeholder approach with respect to corporate social responsibility, in order to achieve business sustainability, in response to sustainable development goals and from the perspective of the well‐being of workers. Our main contribution to the literature review is to focus on all these issues together, and not in isolation. A systematic literature search is conducted following Preferred Reporting Items for Systematic reviews and Meta‐Analyzes (PRISMA). The approaches, issues and methodologies that predominate in the academic field in the last 5 years (2015–2021) were analyzed. Based on this review, we define a research agenda that synthesizes key trends and promising lines of research for further advancement of theoretical and empirical knowledge on the relationship among stakeholders, corporate social responsibility, and human resource management.

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CSR and investment efficiency in Western European countries

Cited by 30 publications

References 72 publications

The European Union’s Environmental Policy and Long-Term Investments of Enterprises

The European Union’s Environmental Policy and Long-Term Investments of Enterprises

What are the factors that most influence the formation of workers' labor values in order to achieve sustainable development in Latin America?

Stakeholder engagement, Csr development and Sdgs compliance: A systematic review from 2015 to 2021

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