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  1. Is Corporate Social Responsibility in Japanese Firms at the Theoretically Derived Achievable Level? An Analysis of CSR Inefficiency Using a Stochastic Frontier Model.Eri Nakamura - 2016 - Business and Society Review 121 (2):271-295.
    The purposes of this study are to investigate whether current corporate social responsibility (CSR) is at the theoretically derived achievable level (hereinafter referred to simply as achievable level), to introduce “CSR inefficiency” as the difference between actual and achievable levels of CSR, and to specify its determinants. We established that the achievable level of CSR activity is determined by a range of keiretsu group, government, sector, and resource factors, and choosing specific activities can affect the priority levels of social contributions. (...)
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  • The impact of national culture on corporate social responsibility: evidence from cross-regional comparison.Namporn Thanetsunthorn - 2015 - Asian Journal of Business Ethics 4 (1):35-56.
    The objective of this paper is to empirically examine the impact of national culture on firm’s corporate social responsibility (CSR) across geographical regions. Empirical tests are based on CSR performance of 3055 corporations from 28 countries located in Eastern Asia and Europe. The findings suggest that the Hofstede’s cultural dimensions have significant impacts on CSR performance, both positively and negatively depending on a given dimension of CSR. In addition, corporations located in European countries tend to effectively outperform those in Eastern (...)
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  • The Meaning of Corporate Social Responsibility: The Vision of Four Nations. [REVIEW]Ina Freeman & Amir Hasnaoui - 2011 - Journal of Business Ethics 100 (3):419 - 443.
    Corporate Social Responsibility (CSR) has existed in name for over 70 years. It is practiced in many countries and it is studied in academia around the world. However, CSR is not a universally adopted concept as it is understood differentially despite increasing pressures for its incorporation into business practices. This lack of a clear definition is complicated by the use of ambiguous terms in the proffered definitions and disputes as to where corporate governance is best addressed by many of the (...)
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  • How Does the Market Value Corporate Sustainability Performance?Isabel Costa Lourenço, Manuel Castelo Branco, José Dias Curto & Teresa Eugénio - 2012 - Journal of Business Ethics 108 (4):417 - 428.
    This study provides empirical evidence on how corporate sustainability performance (CSP), as proxied by membership of the Dow Jones sustainability index, is reflected in the market value of equity. Using a theoretical framework combining institutional perspectives, stake-holder theory, and resource-based perspectives, we develop a set of hypotheses that relate the market value of equity to CSP. For a sample of North American firms, our preliminary results show that CSP has significant explanatory power for stock prices over the traditional summary accounting (...)
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  • Ethnic Diversity, Trust and Corporate Social Responsibility: The Moderating Effects of Marketization and Language.Gaowen Kong, T. Dongmin Kong, Ni Qin & Li Yu - 2022 - Journal of Business Ethics 187 (3):449-471.
    While the effect of culture on finance and management has been well documented in the literature, it is unclear whether and by which channel(s) ethnic diversity affects corporate social responsibility (CSR). Integrating social identity theory and neo-institutional theory, we investigate the ethnic diversity–CSR relation and explore potential mechanisms and boundary conditions. Based on the distribution of ethnic groups across different regions in China, We find that ethnic diversity negatively affects firms’ CSR performance. We document that social trust mediates the negative (...)
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  • The Effect of Values on the Attractiveness of Responsible Employers for Young Job Seekers.Silke Bustamante, Rudi Ehlscheidt, Andrea Pelzeter, Andreas Deckmann & Franziska Freudenberger - 2021 - Journal of Human Values 27 (1):27-48.
    Purpose: Empirical studies suggest that corporate social responsibility (CSR) impacts young job seekers’ choices of an employer. Values seem to affect CSR preferences, influencing the felt fit between the person and the organization and hereby the valence of working for that company. This article aims to research in more detail the preference structure of young graduate job seekers. In particular, it seeks to understand whether CSR is important when there is a trade-off between CSR and non-CSR attributes and whether basic (...)
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  • An Evaluation of the Quality of Corporate Social Responsibility Reports by Some of the World’s Largest Financial Institutions.S. Prakash Sethi, Terrence F. Martell & Mert Demir - 2017 - Journal of Business Ethics 140 (4):787-805.
    This study investigates the variations in the quality and comprehensiveness of 104 corporate social responsibility reports published by the world’s largest financial institutions in 2012. Using a novel measure of CSR report quality, we examine the impact of certain national, legal, and firm-level factors that might explain differences in the overall quality and extent of coverage of various issues in these reports. Our findings show that legal factors and CSR environment in a firm’s country of headquarters play an important role (...)
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  • Developing a Sustainability Credit Score System.Rodrigo Zeidan, Claudio Boechat & Angela Fleury - 2015 - Journal of Business Ethics 127 (2):283-296.
    Within the banking community, the argument about sustainability and profitability tends to be inversely related. Our research suggests this does not need to be strictly the case. We present a credit score system based on sustainability issues, which is used as criteria to improve financial institutions’ lending policies. The Sustainability Credit Score System is based on the analytic hierarchy process methodology. Its first implementation is on the agricultural industry in Brazil. Three different firm development paths are identified: business as usual, (...)
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  • Identity Claims and Diffusion of Sustainability Report: Evidence from Korean Listed Companies, 2003–2010.Heejung Byun & Tae-Hyun Kim - 2017 - Journal of Business Ethics 140 (3):551-565.
    This study integrates theories of diffusion and social identity to conceptualize the diffusion of Sustainability Report as a result of a firm’s identification with its reference groups. Specifically, we first hypothesize four different sources of external stakeholder pressures driving the diffusion. Next, we argue that the source of external stakeholder pressures has a differential effect on the adoption of SR for firms that claim their identity on sustainability management. For firms with organizational identity claims, in-group stakeholder pressure will amplify whereas (...)
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  • The Value Relevance of Reputation for Sustainability Leadership.Isabel Costa Lourenço, Jeffrey Lawrence Callen, Manuel Castelo Branco & José Dias Curto - 2014 - Journal of Business Ethics 119 (1):17-28.
    This study investigates whether the market valuation of the two summary accounting measures, book value of equity and net income, is higher for firms with reputation for sustainability leadership, when compared to firms that do not enjoy such reputation. The results are interpreted through the lens of a framework combining signalling theory and resource-based theory, according to which firms signal their commitment to sustainability to influence the external perception of reputation. A firm’s reputation for being committed to sustainability is an (...)
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  • Drivers of Socially Responsible Investing: A Case Study of Four Nordic Countries. [REVIEW]Bert Scholtens & Riikka Sievänen - 2013 - Journal of Business Ethics 115 (3):605-616.
    In this study, we try to establish what determines the substantial differences in the Nordic countries’ size and composition of socially responsible investing (SRI). We investigate if these differences between Denmark, Finland, Norway, and Sweden can be associated with key characteristics in economics, finance, culture, and institutions. We find that in particular economic openness, the size of the pension industry, and cultural values of masculinity (femininity) and uncertainty avoidance can be associated with the differences in SRI in the four countries. (...)
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  • Top Managers’ Rice Culture and Corporate Social Responsibility Performance.Yonggen Luo, Dongmin Kong & Huijie Cui - 2024 - Journal of Business Ethics 194 (3):655-678.
    Ecological psychology regards culture as a response to the demands of the environment. As rice farming in history has significantly influenced the formation of human cultural consciousness, we investigate how the rice culture of a chairperson’s birthplace affects a firm’s CSR activities. Our main finding reveals a positive and significant correlation between a chairperson’s rice culture and CSR activities. Further analysis demonstrates that this positive relationship is particularly pronounced in private firms and family firms. We also examine the incremental effect (...)
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  • (1 other version)Sustainability report and bank valuation: evidence from European stock markets.Concetta Carnevale & Maria Mazzuca - 2013 - Business Ethics: A European Review 23 (1):69-90.
    Applying value relevance analysis to a sample of European banks, we test the following: (i) the direct effects of the sustainability report on stock price; (ii) whether the report modifies the value relevance of financial accounting variables (indirect effects); and (iii) whether the value relevance of sustainability reports varies across countries. Results show that investors appreciate the additional and complementary disclosure provided by the sustainability report and that this disclosure produces a positive effect on stock prices. Estimates of the indirect (...)
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  • Ethical Reputation of Financial Institutions: Do Board Characteristics Matter?Laura Baselga-Pascual, Antonio Trujillo-Ponce, Emilia Vähämaa & Sami Vähämaa - 2018 - Journal of Business Ethics 148 (3):489-510.
    This paper examines the association between board characteristics and the ethical reputation of financial institutions. Given the pivotal governance role of the board of directors and the value-relevance of ethical corporate behavior, we postulate a positive relationship between ethical reputation and board features that foster more effective monitoring and oversight. Using a sample of large financial institutions from 13 different countries, we run several alternative panel regressions of ethical reputation on board characteristics and firm-specific controls. Our results demonstrate that the (...)
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  • Value-Enhancing Capabilities of CSR: A Brief Review of Contemporary Literature.Mahfuja Malik - 2015 - Journal of Business Ethics 127 (2):419-438.
    This study reviews and synthesizes the contemporary business literature that focuses on the role of corporate social responsibility to enhance firm value. The main objective of this review is to proffer a precise understanding of what has already been investigated and the findings of those investigations regarding the value-enhancing capabilities of CSR for public firms. In addition, this review identifies gaps in the existing literature, evaluates inconsistent findings, discusses possible data sources for empirical researchers, and provides direction for exploring other (...)
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  • Entrepreneurial ecosystem for promoting social innovation in emerging markets: Is corporate social responsibility integration with technology business incubators the right path?Savita Bhat - 2024 - Business and Society Review 128 (4):734-754.
    This study attempts to fill in two research gaps in the extant literature concerning the ecosystem for social innovation in the context of emerging market economies such as India. The study first attempts to assess the potential of corporate social responsibility (CSR) in not-for-profit entities such as technology business incubators (TBIs) to stimulate social innovations in the prevalent ecosystems in emerging markets. Further, using a random-effects Tobit model, the study examines the characteristics of firms that spend higher percentages of CSR (...)
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  • The Functions of the Board of Directors in Corporate Philanthropy: An Empirical Study From China.Qi Pan & Zhangjie Huang - 2022 - Frontiers in Psychology 13.
    As an important way for enterprises to fulfill social responsibility, corporate philanthropy has attracted much attention from the academic community. But there are still few well-targeted theoretical and empirical studies on what functions the board of directors should perform to better fulfill philanthropic responsibilities. Taking this deficiency as a breakthrough, this study focuses on Chinese state-owned and private enterprises to analyze and test the functions performed by the BOD in CP. Based on the sample of Chinese A-share listed companies from (...)
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  • Corporate Social Responsibility and Credit Ratings.Najah Attig, Sadok El Ghoul, Omrane Guedhami & Jungwon Suh - 2013 - Journal of Business Ethics 117 (4):679-694.
    This study provides evidence on the relationship between corporate social responsibility and firms’ credit ratings. We find that credit rating agencies tend to award relatively high ratings to firms with good social performance. This pattern is robust to controlling for key firm characteristics as well as endogeneity between CSR and credit ratings. We also find that CSR strengths and concerns influence credit ratings and that the individual components of CSR that relate to primary stakeholder management matter most in explaining firms’ (...)
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  • Effect of Stakeholders’ Pressure on Transparency of Sustainability Reports within the GRI Framework.Belen Fernandez-Feijoo, Silvia Romero & Silvia Ruiz - 2014 - Journal of Business Ethics 122 (1):53-63.
    Transparency is a quality of corporate social responsibility communication that enhances the relationship between the investors and the company. The objective of this paper is to analyze if the transparency of the sustainability reports is affected by the relationship of companies in different industries with their stakeholders. If this were the case, it would indicate that the pressure of significant stakeholders determines the required level of transparency of the reports. We find that the pressure of some groups of stakeholders improves (...)
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  • Legal Determinants of External Finance Revisited: The Inverse Relationship Between Investor Protection and Societal Well-Being. [REVIEW]David Collison, Stuart Cross, John Ferguson, David Power & Lorna Stevenson - 2012 - Journal of Business Ethics 108 (3):393-410.
    This article investigates relationships between countries' legal traditions and their quality of life as measured by a number of widely reported social indicators; in so doing it also offers a critique of a highly influential body of work which is widely cited in the literatures of corporate governance, economics and finance. That body of work has shown, inter alia, statistically significant relationships between legal traditions and various proxies for investor protection. We show statistically significant relationships between legal traditions and various (...)
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  • The impact of top management teams' faultlines on organizational transparency―Evidence from CSR initiatives.Yuefan Sun, Jidong Zhang, Jing Han & Qi Zhang - 2023 - Business Ethics, the Environment and Responsibility 32 (4):1262-1276.
    Corporate social responsibility (CSR) disclosure is becoming increasingly important in practice, yet knowledge about the antecedents of such CSR initiatives is limited. Drawing on faultline theories, we expect that the compositional attributes of top management teams, such as the level of heterogeneity, influence their decisions about CSR disclosure and reporting. Data and a sample from Chinese publicly traded companies are used to examine our hypotheses. Our results demonstrate that a top management team's faultline strength is negatively related to CSR disclosure (...)
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  • Did Corporate Social Responsibility Vaccinate Corporations Against COVID-19?Ehsan Poursoleyman, Gholamreza Mansourfar, Mohammad Kabir Hassan & Saeid Homayoun - 2023 - Journal of Business Ethics 189 (3):525-551.
    Using an international setting consisting of 5410 corporations domiciled in 24 countries, we test the insurance-like effect of corporate social responsibility (CSR) performance in the era of the pandemic and confirm that CSR performance increases socially responsible companies’ resilience against the adverse effects of the crisis. Comparing stakeholders' responses to CSR activities during the pandemic and normal periods, we observe that the link between CSR performance and firm value is stronger during the crisis period. We also realize that the social (...)
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  • Changes in Corporate Social Responsibility and Stock Performance.Hui-Ju Tsai & Yangru Wu - 2022 - Journal of Business Ethics 178 (3):735-755.
    We study the relationship between corporate social performance and financial performance by comparing the portfolio returns of firms with changes in corporate social responsibility (CSR) intensity. Using an extensive US sample from the MSCI ESG database, we find that improvement in the overall CSR is generally value enhancing. The relationship varies with CSR dimensions. More importantly, the relationship shifts differently for various CSR dimensions during the crisis period when trust in the society is low and financial resource is limited. Improvement (...)
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