The hunt for international legitimacy: Examining the relationship between internationalization, state ownership, location and CSR reporting of Russian firms

Aray, Yulia; Dikova, Desislava; Garanina, Tatiana; Veselova, Anna

doi:10.1016/j.ibusrev.2021.101858

Cited by 41 publications

(47 citation statements)

References 85 publications

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“…2 2 The extensive literature review shows that authors conceptualize CSPR as unidimensional (Aray et al, 2021) and multidimensional (Costa & Menichini, 2013), which leads to inconsistent findings. Also, the operationalization of CFP is done in multiple ways, such as accounting‐based measures (Danso et al, 2019), market‐based measures (Nguyen & Adomako, 2021), and economic value added (Dyllick & Hockerts, 2002).…”

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confidence: 99%

Revisiting the influence of corporate sustainability practices on corporate financial performance: An evidence from the global energy sector

2022

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The purpose of this study is to theoretically and empirically extend the debate of the curvilinear linkage between corporate sustainability performance and its reporting practices (CSPR) and corporate financial performance (CFP) over its linearity assumption. The study focused on the financial and non‐financial metrics of the top global energy firms from 2006 to 2018 to accomplish this objective. It employed an estimated generalized least square method on the balanced panel of 3211 firm‐year observations. The findings assert the existence of a curvilinear relationship by spurning the linearity assumption. Further, results revealed a significant inverted U‐shaped relationship between CSPR and CFP. In addition to this, the investigation reveals that this relationship exists with the environmental and social attributes of CSPR. While the governance attribute was initially insignificant, however, it also exhibits a significant inverted‐U relationship after interacting with earnings. As a result, it adds to the existing literature by identifying earnings as a significant moderator in explaining the curvilinear relationship between CSPR and CFP. The inverted U‐shaped relationship may assist top management in developing a sustainable social and environmental policy based on a reactive strategy and help in formulating strategies to balance the value‐cost trade‐off for sustainable development.

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confidence: 99%

Revisiting the influence of corporate sustainability practices on corporate financial performance: An evidence from the global energy sector

2022

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“…C. Yi et al (2021) argue that rapid internationalization underestimates the Penrose effect in the process of internationalization, that is, underestimates the managerial resources required to learn and accumulate absorptive capacity, and effectively manage dispersed knowledge, based on the dual context of dispersed knowledge management and managerial constraints, this paper expands the understanding of the impact mechanism of internationalization speed on corporate performance, and also has certain guiding significance for the selection of internationalization speed of EMNCs. Aray et al (2021) found that state ownership moderates the relationship between internationalization and corporate social responsibility (CSR) reporting in Commonwealth of Independent States (CIS) and non-CIS markets differently, and the positive effect is stronger for non-CIS locations and the study goes beyond the traditional approach, treating CSR reporting as a unidimensional construct. Aray et al (2021) show that the effect of internationalization, both direct and moderated, differs for the different types of CSR activity.…”

Section: Literature Reviewmentioning

confidence: 96%

“…Aray et al (2021) found that state ownership moderates the relationship between internationalization and corporate social responsibility (CSR) reporting in Commonwealth of Independent States (CIS) and non-CIS markets differently, and the positive effect is stronger for non-CIS locations and the study goes beyond the traditional approach, treating CSR reporting as a unidimensional construct. Aray et al (2021) show that the effect of internationalization, both direct and moderated, differs for the different types of CSR activity.…”

Section: Literature Reviewmentioning

confidence: 96%

State Ownership: A Literature Review

Asri

2022

SSS

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State ownership enterprises (SOEs) are always been considered to be less efficient, both in productivity and innovation. SOEs are more likely to do nothing and to maintain the existing advantages due to agency problems The objective of this research is to provide a review of the literature which is exhaustive, especially about state ownership. We presented a literature study and included 14 articles as a result. The result shows some variables that are affected by state ownership and a variable that affects state ownership. Further research is suggested to further explore the variables that affect state ownership.

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“…To correctly understand the effect of CSR fulfillment, it is necessary to analyze the behavioral motivation of the management to engage in CSR fulfillment [14]. The types of CSR activities may vary in different settings [15]. If CSR fulfillment is characterized by an "instrumental attribute", CSR activities are likely not conducive to enhancing the capacity of risk-taking.…”

Section: Introductionmentioning

confidence: 99%

Does Corporate Social Responsibility Impact on Corporate Risk-Taking? Evidence from Emerging Economy

Liu

Fu³

et al. 2022

Sustainability

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This study analyzes the impact of corporate social responsibility (CSR) fulfillment on corporate risk-taking to assist stakeholders in identifying the “double-edged sword” role of CSR activities and provide empirical evidence for enterprises to properly carry out CSR activities. The results show that the self-interest instrumentalization of CSR activities intensifies agency conflict, and CSR fulfillment weakens risk-taking to a certain extent. When CSR fulfillment reaches a certain value, CSR activities can improve risk-taking. Then, CSR fulfillment and risk-taking show a U-shaped relationship. Further analysis shows that the impacts of CSR on debt financing and R&D input reflect the U-shaped effect pathways of CSR fulfillment on risk-taking. Finally, it is suggested that CSR activities should be avoided to become the “self-interest tool” of the management. The regulators guide enterprises to break through the inflection point of the U-shaped effect and consider more for the stakeholders’ overall interests. Additionally, the regulators establish an effective compensation system to ensure that the enterprises with adequate CSR fulfillment obtain high-quality capital resources and promote the sustainable development of the capital market.

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The hunt for international legitimacy: Examining the relationship between internationalization, state ownership, location and CSR reporting of Russian firms

Cited by 41 publications

References 85 publications

Revisiting the influence of corporate sustainability practices on corporate financial performance: An evidence from the global energy sector

Revisiting the influence of corporate sustainability practices on corporate financial performance: An evidence from the global energy sector

State Ownership: A Literature Review

Does Corporate Social Responsibility Impact on Corporate Risk-Taking? Evidence from Emerging Economy

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