Download or read book Corporate Social Performance Financial Performance and Market Value Behavior written by Kashif Hamid and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This specific study is based on the slack resource theory, good management theory, singling theory and agency theory. Moreover, this paper estimates an interactive equation structural model, based on above discussed theories that relates corporate financial performance (CFP), corporate social performance (CSP), and market performance (MP) regarding to the firm's share value and relative debt level. The relationship of corporate social performance, financial performance, market value of the share and financial leverage is tried to justify. In this particular study, 166 listed companies on Karachi Stock Exchange from textile sector, chemical sector, cement sector and the tobacco sector are taken. The observations are taken for the entire period of 2005 and 2006 from the published resources of state bank of Pakistan. In aggregate, the results of the study conclude that corporate social performance (CSP) has no effect on financial performance (CFP) under slack resources theory and good management theory. It is obvious from the results that CSP has negative effect on the market value of the share but no relationship to D/E behavior of the firm, significantly. In addition, it is also shown that CFP does not have mediating effect in between the CSP and market value of the share and also in between the CSP and debt level of the firm. This negative relationship indicates that there exists an agency problem. Moreover, the investors do not have the same level of information as the information is captured by the management about the company affairs. In addition, the debt singling hypothesis indicates that the further incorporation of debt into capital structure should influence the behavior of the investor, regarding to the investment in the shares positively, but due to information asymmetry, it is negative. This study further provides the room to test the model of effect of CSP on stock returns in a portfolio construction.

Download or read book Corporate Social Responsibility written by Andrew Crane and published by Routledge. This book was released on 2014 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a relatively young subject matter, corporate social responsibility has unsurprisingly developed and evolved in numerous ways since the first edition of this textbook was published. Retaining the features which made the first edition a top selling text in the field, the new edition continues to be the only textbook available which provides a ready-made, enhanced course pack for CSR classes. Authoritative editor introductions provide accessible entry points to the subjects covered - an approach which is particularly suited to advanced undergraduate and postgraduate teaching that emphasises a research-led approach. New case studies are integrated throughout the text to enable students to think and analyze the subject from every angle. The entire textbook reflects the global nature of CSR as a discipline and further pedagogical features include chapter learning outcomes; study questions; ‘challenges for practice’ boxes and additional ‘further reading’ features at the end of each chapter. This highly rated textbook now also benefits from a regularly updated companion website which features a brand new 'CSR Case Club' presenting students and lecturers with further case suggestions with which to enhance learning; lecture slides; updates from the popular Crane and Matten blog, links to further reading and career sites, YouTube clips and suggested answers to study questions. An Ivey CaseMate has also been created for this book at https://www.iveycases.com/CaseMateBookDetail.aspx?id=335.

Download or read book The Association Between Corporate Social Performance and Financial Performance in the Market written by Ali Mohamed El-Gawhary and published by . This book was released on 1979 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book People and Profits written by Joshua Daniel Margolis and published by Psychology Press. This book was released on 2001-04-01 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the relationship between the social performance of companies and their financial performance? More colloquially, can a firm effectively attend to both people and profits as it conducts its business? This question has been investigated in no fewer than 95 empirical studies published since 1972. The authors have assembled a compendium of this research to give researchers and practitioners alike a broad overview of these 95 studies and a systematic database detailing the content of each one. This book provides a comprehensive portrait of this research literature. It begins with a broad orientation to the literature, exploring why the link between social and financial performance has been subject to continual inquiry and often heated debate. The authors then present an integrated overview of the 95 studies. Through the charts and tables, the authors illuminate the nature of the studies conducted; the data samples selected for investigation; the ways in which financial and social performance have been measured; and the overall tally of results.

Download or read book How Corporate Social Performance Influences Financial Performance written by Manoj K. Agarwal and published by . This book was released on 2009 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Provides and tests a framework to show how corporate social performance affects cash flow, cost of equity (market risk and firm-specific risk), cost of debt (debt ratings), and company value; uses data on U.S. firms from 1995 to 2005"--

Download or read book Value Based Management with Corporate Social Responsibility written by John D. Martin and published by Oxford University Press. This book was released on 2009-08-19 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the first decade of the 21st century winds down we have seen a sea change in society's attitudes toward finance. The 1990s can best be described as the decade of shareholder supremacy, with each firm trying to outdo the other in their allegiance to shareholder value creation, or as it came to be known, Value-Based Management (VBM). No one seemed to question this culture as the rising firm valuations translated into vast wealth creation for so many. Three significant economic events have reshaped how the public feels about an unbridled devotion to VBM and have defined the last decade: the dot.com bubble in 2000, the infamous accounting scandals of 2001, and the collapse of the credit markets in 2007-2008. In all three of these events the CEOs were portrayed as reckless and greedy and Wall Street went from an object of admiration to an object of scorn. The first edition of this book, Value Based Management: The Corporate Response to the Shareholder Revolution was written to help explain the underpinnings of Value-Based Management. At the time of its publication, few questioned whether the concept was the proper thing to do. Instead, the debate was focused on how to implement a VBM program. With this new second edition, the authors look at VBM after having seen it through good times and bad. It is not their intent to play the blame game or point fingers. Nor is it their intent to provide an impassioned defense of VBM. Instead they provide an academic appraisal of VBM, where is has been, where it is now, and where they see it going.

Download or read book Value Shift Why Companies Must Merge Social and Financial Imperatives to Achieve Superior Performance written by Lynn S. Paine and published by McGraw Hill Professional. This book was released on 2002-08-22 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Lynn Paine has an optimistic analysis of the need for--and the value of--bringing ethical values into business decision-making. The 'meltdown' of so many high-flyers reecntly suggests that lesson had been lost on too many companies during the boom years. The time has come to take account of what she writes."--Paul A. Volcker "This book presents a way of broadening the role of the corporation in our society, an interesting and exciting role. It's a good read for young leaders in all walks of life."--John C. Whitehead, former Chairman, Goldman Sachs "Value Shift provides a timely and compelling argument for why companies must incorporate values into their strategies--that no one in business can afford to ignore."--Daniel Vasella, Chairman + CEO /Novartis AG

Download or read book Corporate Responsibility and Financial Performance written by Moses Pava and published by Praeger. This book was released on 1995-08-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The core idea of corporate social responsibility, the notion that companies have a responsibility beyond legal requirements, is by now deeply embedded in the corporate cultures of the largest U.S. companies. The authors suggest that productive debate now focuses on the following two issues. First, what are the impacts of existing corporate social responsibility programs for the corporation? And, second, what constitutes the precise contours of this responsibility? This book explores these two themes. The issue of how corporate social responsibility affects individual companies engaged in socially responsible activities is not well understood. Further, the distinction between legitimate and illegitimate corporate social responsibility activities has not always been clearly drawn. This book, therefore, is designed to fill in some of the gaps in our understanding. This is done by carefully organizing and reviewing the relevant and growing literature on corporate social responsibility. In addition, this book reports on the results of two original empirical studies designed to further explore the relationship between corporate social responsibility and traditional financial performance. This book has profound implications for business executives and researchers in finance, accounting, business ethics, and business and society.

Download or read book Relationships Between Corporate Social Responsibility and Financial Performance written by Gerard Hirigoyen and published by . This book was released on 2014 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the causal relationships between the various dimensions of corporate social responsibility (human resources, human rights in the workplace, societal commitment, respect for the environment, market behavior and governance) and financial performance (return on equity, return on assets, market to book ratio).Research Findings/Insights: This study is based on a sample of 329 listed companies in three geographical areas (the United States, Europe and the Asia-Pacific region) for the years 2009 and 2010. Linear regression analysis and the Granger causality test were used to examine the causal relationships between social responsibility and financial performance. The results show not only that greater social responsibility does not result in better financial performance, but also that financial performance negatively impacts corporate social responsibility.Theoretical/Academic Implications: This study seems to confirm the Managerial Opportunism Hypothesis which postulates that corporate social responsibility has a negative influence on financial performance. In this sense, it contradicts the hypothesis of a virtuous circle, i.e. there is a positive relationship and mutual reinforcement between financial performance and social responsibility.Practitioner/Policy Implications: This study raises questions about the changes that must be made in corporate social responsibility towards greater “shared value”. This implies taking the needs of stakeholders seriously and forming alliances with the various local actors. The challenge is not to protect the environment in which businesses operate, but that businesses, through gaining the respect and esteem of their partners, should enhance their competitiveness. In doing so, companies create economic value by creating social value.

Download or read book The Oxford Handbook of Corporate Social Responsibility written by Andrew Crane and published by Oxford Handbooks Online. This book was released on 2008-02-14 with total page 609 pages. Available in PDF, EPUB and Kindle. Book excerpt: CSR encompasses broad questions about the changing relationship between business, society, and government. An authoritative review of the academic research that has both prompted, and responded to, these issues, the text provides clear thinking and perspectives on CSR and the debates around it.

Download or read book Corporate Social Performance written by Agata Stachowicz-Stanusch and published by IAP. This book was released on 2016-10-01 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Social Performance – reflecting on the past and investing in the future is aimed at filling the fundamental gap that exists in our understanding of the drivers Corporate Social Performance, its evolution and relationships with the existing concepts and theories and the paradoxes that come from those connections. Moreover the volume aims at shedding the light on most important pitfalls that may occur while CSP application in business practice. The last but not least reason for its publishing is to show Corporate Social Performance as a significant pathway to the better world, that, as I hope, will be the inspiration for the readers. This book is authored by a range of international experts and scientists from all over the world with a diversity of professional and cultural backgrounds what hopefully will give the readers the opportunity to understand the CSP concept from different perspectives.

Download or read book Toward Integrative Corporate Citizenship written by M. Orlitzky and published by Springer. This book was released on 2008-10-24 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the increased impact of non-market forces on business reputation, there has never been a greater need to grasp corporate social performance. This book demonstrates that a holistic perspective on corporate citizenship that accommodates the importance of profits and other time-honored social values is both desirable and possible.

Download or read book Corporate Social Performance A Stakeholder Approach written by Stuart Cooper and published by Taylor & Francis. This book was released on 2017-07-05 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate social performance has come of age. In a business environment characterized by its perpetual state of flux, the ability to recognize and react to global forces becomes paramount. The fallout of such rapid change - the fast-paced developments in communications and technology, the continual change to global markets, shifting demographics, the homogenization of personal values - have all contributed to the widespread new interest in issues such as ecology and environment, human rights and diversity, health and well-being, and communities. All of these issues are now potential liabilities for companies, and are very much back on the agenda for business. Once regarded as peripheral management concerns, they are now recognized as hard to predict and hard for business to deal with when they go wrong. This book offers an insight into how corporate social performance can be measured and why this is an important aspect of corporate social responsibility. Using detailed case studies, it provides readers with the foundations for understanding and applying corporate social performance, providing a stakeholder framework by which corporate social performance can be measured, alongside a detailed consideration of the value of different stakeholder measures. The book also applies this framework to new social accounting standards, enabling the reader to consider the validity and appropriateness of these standards. The increasingly important role of the internet for corporate social reporting is also considered.

Download or read book The Business Case for Corporate Social Responsibility written by Philipp Schreck and published by Springer Science & Business Media. This book was released on 2009-01-29 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: Profound and conceptual analysis of linkages between CSR and financial performance Overview of recent empirical studies in CSR Econometric analysis of relation between corporate social and firm performance

Download or read book Relationship between share price performance and disclosure of corporate social responsibility of M S written by David Moss and published by GRIN Verlag. This book was released on 2014-03-27 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2012 in the subject Business economics - Business Ethics, Corporate Ethics, grade: B, King`s College London, language: English, abstract: Corporate social responsibility (CSR) and share price performance are strategic in nature. As a result, organizations must give disclosure and report such initiatives to stakeholders as well as shareholders. The value is revealed in the share price of the public organizations (Bevan, 2010). The boost in share value of socially responsible companies surpasses companies which don’t involve in any reporting of corporate social responsible activities (Robinson, 2010). In this report, we will talk about the relationship between share price performance and disclosure of corporate social responsibility in Mark & Spencer (Robert, 2009). Marks and Spencer is one among the dominant retailers of clothing, home products, food, and financial services of United Kingdom. 10 million people do shopping every week in more than 375 Marks and Spencer stores in the United Kingdom (Goldenberg, 2009). Additionally the Company has 155 stores run under franchises in twenty eight countries, generally in European, the Middle Eastern, Asian and the Far Eastern countries, and stores in the Republic of Ireland, Hong Kong and the United States supermarket group, Kings Super Markets. Marks and Spencer is formed in business units that cover food and general products (Retail Technology, 2012). The general products unit has been further divided into clothing of women, menswear, beauty, home etc. In proportion to the current focus on the advantages of Corporate Social Responsibility, it is argued that Marks and Spencer’s social commitment with its stakeholders produces resources which create durable benefits for the company (Bookbinder, 2010). In this study, CSR is viewed as an important resource for Marks and Spencer and it makes possible better lasting share price performance. Corporate Social Responsibility is the valuable resource for Marks & Spencer, it is found that CSR-linked shareholder proposals which are implemented by the small margin of votes produce better financial performance (Stokes, 2012).

Download or read book Research in Corporate Social Performance and Policy written by William C. Frederick and published by Research in Corporate Social P. This book was released on 1994-02 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Relationship between Corporate Social Performance and Corporate Financial Performance in the Banking Sector written by Maria-Gaia Soana and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1970's Anglo-American studies have investigated the theme of corporate social responsibility (CSR). Numerous studies have focused on the analyzes of the possible costs and benefits that would result from the implementation of socially responsible initiatives in order to understand whether such initiatives entail economic and financial loss, or on the contrary, whether they guarantee the achievement of a competitive advantage.To this aim, numerous quantitative studies have been carried out to establish, largely in samples of multiple industries, the relationship between corporate social performance (CSP) and corporate financial performance (CFP). Such analyzes, however, have produced conflicting results and any attempt to give a generalized and coherent conclusion has proved inadequate. The present work attempts to investigate the possible connection between social performance and financial performance in the banking sector. In a sample of national and international banks, the eventual correlation between social performance (proxied using ethical ratings) and financial-economic performance (proxied using market and accounting ratios) has been examined. It emerges from these analyzes that there is no statistically significant link that indicates any positive or negative correlation between CSP and CFP.