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 Relationship Between Share Price Performance and Disclosure of Corporate Social Responsibility of M S written by David Moss and published by . This book was released on 2014-03-27 with total page 26 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, Kings 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

Download or read book Disclosure of Corporate Social Performance written by Harold L. Johnson and published by Greenwood. This book was released on 1979 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Social Responsibility Disclosure Assurance and Financial Performance written by Marna Catharina de Klerk and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The study evaluates in a cross-country setting whether corporate social responsibility (CSR) assurance represents a signal of the quality of CSR disclosure to investors. As part of this objective, the study also evaluates whether the associations of CSR disclosure and CSR assurance with subsequent financial performance are in the same or in opposite directions. Agency Theory and information asymmetry considerations are used as basis to develop testable hypotheses. The first step is to test the association between CSR disclosure and subsequent financial performance. Next, the association between third-party assurance provided on CSR disclosure and subsequent financial performance is evaluated. The two market-based measures of financial performance chosen are share price and market-to-book ratio. The two accounting-based measures of financial performance used are actual future cash flows and actual future profitability. The study examines a sample based on the 100 largest firms from different countries included in KPMG s 2008, 2011 and 2013 international surveys of CSR reporting practices. The measures of CSR disclosure and CSR assurance used are based on data collected by KPMG, as an independent and credible source. The overall findings show that CSR assurance does not represent a signal of the quality of CSR disclosure to investors and that the associations of CSR disclosure and CSR assurance with market-based measures of financial performance are in opposite directions. CSR disclosure included in a firm s annual report at a level higher than the sample mean has a positive association with market-based measures of financial performance. These results are driven by firms in environmentally non-sensitive industries.1 CSR assurance has a negative association with market-based measures of financial performance. Additional tests suggest that this negative association is driven by firms in non-sensitive industries from countries where some form of CSR disclosure is required, or is in the process of being mandated. The results are robust to various additional tests. Associations of CSR disclosure and CSR assurance with accounting-based measures of financial performance are mostly not significant for the one- to three-year-ahead periods. Prior studies on the association between CSR disclosure and market-based measures of financial performance have provided inconsistent results. In respect of CSR assurance, limited prior archival studies have been conducted on the association between CSR assurance and market-based measures of financial performance. Prior research on CSR assurance did not evaluate whether associations could be different for firms in environmentally sensitive industries compared to firms in environmentally non-sensitive industries. Prior research also did not control for country-level institutional strength and country-specific characteristics. Analysing CSR disclosure together with CSR assurance in a study using the same underlying financial data made it possible to evaluate whether associations of CSR disclosure and CSR assurance with financial performance are in the same or in opposite directions.

Download or read book Corporate Social Responsibility written by Andrew Crane and published by Routledge. This book was released on 2014 with total page 659 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 Value Relevance of Corporate Social Responsibility written by Zabihollah Rezaee and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine whether short sellers, as informed investors, take into consideration corporate social responsibility (CSR) performance and disclosure in the areas of environmental, social, and governance (ESG) sustainability in making investment decisions. We find that firms' market value and future financial performance, measured by price per share, return on equity, and return on assets, are lower, whereas operating risk, measured by the standard deviation of return on equity and the standard deviation of return on assets, is higher for firms with low composite ESG scores. We detect a negative association between ESG scores and short selling, indicating that short sellers avoid firms with high ESG scores and tend to target firms with low ESG scores. We conclude that investors consider firms' ESG scores as value relevant in making investment decisions and thus management should integrate CSR into strategic decisions and corporate reporting.

Download or read book Quality of Corporate Social Responsibility Disclosure and Cost of Equity Capital written by Shaofang Li and published by . This book was released on 2017 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article explores the relationship between the quality of corporate social responsibility (CSR) disclosure and the cost of equity capital by analyzing the financial data and CSR reports of A-share listed firms in China from 2008 to 2014. It is shown that the quality of CSR disclosure is negatively related to cost of equity capital of the listed firms. This negative correlation proves to be more prominent among firms of environmentally-sensitive industries. Taking the ownership of the listed firms into consideration, it is further confirmed that the negative relationship between the CSR disclosure and the cost of equity capital is of higher significance for state-owned enterprises (SOEs). Our findings also empirically demonstrate that the quality of CSR disclosure is more negatively related to the cost of equity capital among large listed firms than smaller ones.

Download or read book Corporate Social Accountability written by Dr. Deepak Gupta and published by Mittal Publications. This book was released on 1995 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study of divergent social responsibility disclosure practices in Indian companies, both in the public as well as private sector.

Download or read book Proceedings of the 7th International Conference on Economic Management and Green Development written by Xiaolong Li and published by Springer Nature. This book was released on with total page 2095 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Social Responsibility and Firms Performance An Analysis on Italian Listed Companies written by Giovanni Fiori and published by . This book was released on 2014 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate social responsibility (CSR) is getting an increasingly important issue for economic agents all over the world, due to a new attention to all the aspects of firms activities and their relationships with stakeholders.Also in Italy, the number of firms that prepare voluntary corporate social responsibility (CSR) reports (e.g. sustainability reports, environmental reports, environmental and social reports or corporate social responsibility reports) is increasing.The purpose of this paper is to investigate the impact of the voluntary disclosure about Corporate Social Responsibility on firms stock prices of Italian listed companies in order to analyze if it can somehow contribute to increase the stock market prices.Our empirical analysis will test the relation, during a period of three years, between corporate social responsibility (CSR) reports and firms stock prices, considering a sample of Italian listed companies.

Download or read book Handbook of Accounting and Sustainability written by Adams, Carol A. and published by Edward Elgar Publishing. This book was released on 2022-07-21 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides a comprehensive study of research, practice and policy at the nexus of accounting and sustainability, or sustainable development. Chapters explain key drivers of developments at the nexus, critique those developments, summarise the findings of research on key themes in the field, and suggest areas for further research, offering evidence-based practice and policy solutions.

Download or read book Corporate Social Responsibility and Firms Financial Performance written by Faisal Mahmood and published by . This book was released on 2020 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: A vast stream of literature has investigated the effect of corporate social responsibility (CSR) on firms' financial performance (FFP). However, this effect has remained unclear and undecided. For instance, numerous studies have examined the direct impact of firms' CSR initiatives on FFP, as well as examining various mechanisms to explain this relationship, but found inconsistent results. The indecisive results indicate that researchers lack consensus to define a mechanism to understand how and under what conditions CSR can affect FFP. Thus, this research aims to investigate how firms' CSR perception and disclosure derive accounting- (return on equity: ROE, earnings per share: EPS), market- (Tobin Q) and perception-based firms' financial performance through the mediation of competitive advantage and boundary conditions of family ownership and CEO narcissism. This research underpins the theoretical lens of the resource-based view to derive hypotheses. The research design employed in this study is quantitative, and the approach to theory development is deductive. Multi-method and multi-source data with temporal breaks are collected from 60 manufacturing firms listed on the Pakistan Stock Exchange (PSE). Primary data are collected from the top and middle managers, while secondary data are collected from the annual reports published by these firms. This research found that competitive advantage significantly mediated the indirect impact of perceived CSR and disclosure on FFP. Further, this relationship is strengthened by the contingencies of family ownership and CEO narcissism. Our results will assist the management of the firms to understand the implications of CSR perceptions and disclosure to derive a competitive advantage that ultimately translates into the firms' financial performance. Further, this research also revealed that managers should concentrate on the boundary conditions of family ownership and CEO narcissism as well. In particular, this research contributes to understanding why CSR is viewed to have strategic importance for the firms and how a resource-based perspective might be utilized in such endeavors.

Download or read book Social and Environmental Disclosure by Chinese Firms written by Yingjun Lu and published by Routledge. This book was released on 2014-03-26 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the increased social and environmental problems in China, this book looks into the social and environmental (environmental) disclosure practices of socially responsible Chinese listed firms by constructing a stakeholder-driven, three-dimensional, disclosure index. The book contains a three-part study: the first part explores the current status of social and environment disclosure practices. The second part empirically examines the relationship between corporate social and environmental disclosure and various influencing factors (i.e. stakeholders’ power and corporate characteristics). The third part empirically examines the link between corporate social responsibility (CSR) reporting (i.e. publishing a CSR report and the quality of the CSR report) and socially responsible reputation. The book finds that the CSR report provided more stakeholder-relevant social and environmental disclosure than the annual report. It also finds that corporate characteristics such as firm size, profitability and industry classification are all statistically significant factors influencing social and environmental disclosure of the Chinese firms studied. Shareholders significantly influenced firms’ social and environmental disclosure, and creditors significantly influenced firms’ disclosure related to their environmental performance. The final part of the study reports that publishing a CSR report and CSR reporting quality had a positive influence on firms’ socially responsible reputation and that the CEO/chairman duality negatively influenced firms’ socially responsible reputation. The book also highlights that financial performance and firm size were the two corporate characteristics that had a positive influence on corporate socially responsible reputation. This book will be of interest to those who are keen to learn more about corporate social responsibilities in the context of Chinese firms.

Download or read book Research Handbook on Sustainability Reporting written by Gunnar Rimmel and published by Edward Elgar Publishing. This book was released on 2024-09-06 with total page 563 pages. Available in PDF, EPUB and Kindle. Book excerpt: This insightful Research Handbook provides an overview of the complex and multifaceted nature of sustainability reporting. Bringing together over 50 researchers from across the globe, it summarises the current state of knowledge, identifies key methodological approaches and research gaps, and encourages researchers to make further meaningful contributions to this dynamic field.

Download or read book The explanatory relationship between corporate social responsibility and financial performance in U S companies written by Valerie Y. Waller and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 An Examination of the Relationship Between Corporate Social Responsibility Reporting and Corporate Social Performance of S P 500 Firms written by Daniel Bothe and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study examined whether the corporate social responsibility (CSR) reporting of S&P 500 companies is associated with the corporate social performance (CSP) of S&P 500 companies. The study separately investigated the association between firm CSR reporting and positive, negative, and overall CSP in order to fully understand the relationship between CSR reporting and CSP. Finally, the study examined community, environment, consumer, and employee stakeholder categories individually in order to provide insight as to which category may be driving the association between CSRreporting and CSP. Both correlation and regression analyses was applied to a random sample of 101 S&P 500 companies as of December 31, 2015. Content analysis was employed to determine the degree to which firms addressed their CSR activities within their CSR reports. CSP was represented by CSP scores for firm positive CSP, negative CSP, and overall CSP using data from the MSCI/KLD social performance ratings database. Firm size, leverage, financial performance, and industry were utilized as control variables. The results of this study suggest a positive association between CSR reporting and positive CSP for the four stakeholder categories combined. This result is consistent with voluntary disclosure theory, which predicts that strong CSR performers are incentivized to issue standalone CSR reports to signal to stakeholders their strong CSR performance. The environment stakeholder and the employee stakeholder categories similarly have a positive association between CSR reporting and positive CSP, suggesting that these categories may be driving the results of the four stakeholder categories combined. Inaddition, the study suggests a positive association between CSR reporting and negative CSP for the four stakeholder categories combined, factoring in all control variables except industry. This result is consistent with legitimacy theory, which predicts that poor-performing CSR firms provide more positive CSR disclosures in order to influence perceptions regarding their actual CSR performance. The consumer stakeholder category and employee stakeholder category may be driving this result, as these two stakeholder categories also have a positive relationship between CSR reporting and negative CSP.