دانلود رایگان مقاله انگلیسی مسئولیت اجتماعی شرکت، رقابت بازار محصول و ارزش شرکت - الزویر 2018

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عنوان فارسی

مسئولیت اجتماعی شرکت، رقابت بازار محصول و ارزش شرکت

عنوان انگلیسی

Corporate social responsibility, product market competition, and firm value

صفحات مقاله فارسی

0

صفحات مقاله انگلیسی

16

سال انتشار

2018

نشریه

الزویر - Elsevier

فرمت مقاله انگلیسی

PDF

نوع مقاله

ISI

نوع نگارش

مقالات پژوهشی (تحقیقاتی)

رفرنس

دارد

پایگاه

اسکوپوس

کد محصول

E10283

رشته های مرتبط با این مقاله

مدیریت

گرایش های مرتبط با این مقاله

مدیریت استراتژیک، مدیریت منابع انسانی، مدیریت کسب و کار

مجله

مجله اقتصاد و تجارت - Journal of Economics and Business

دانشگاه

Dan Department of Management and Organizational Studies - The University of Western Ontario - Canada

کلمات کلیدی

CSR، ارزش شرکت، اندوژنیت، متغیرهای ابزاری

doi یا شناسه دیجیتال

https://doi.org/10.1016/j.jeconbus.2018.07.001

برای سفارش ترجمه این مقاله با کیفیت عالی و در کوتاه ترین زمان ممکن توسط مترجمین مجرب سایت ایران عرضه؛ روی دکمه سبز رنگ کلیک نمایید.

چکیده

ABSTRACT

This study empirically examines if and how product market competition influences the relation between corporate social responsibility (CSR) and firm value using a panel data set for the period 2003–2015. It explicitly recognizes the endogeneity of CSR and uses instrumental variable (IVGMM) estimation regressions. Results indicate that CSR is positively associated with market value of a firm measured by industry adjusted Tobin’s Q. However, this relation is influenced by product market competition and product fluidity. Specifically, CSR has no impact on firm value in firms that operate in low product competition environments or face low product fluidity. Furthermore, results show that the effect of CSR is driven by CSR strengths as CSR concerns have no effect on firm value. Additional tests show that community, diversity and environment dimensions are the main contributors to the total effect of CSR.

نتیجه گیری

Conclusion

The relation between CSR and firm value is still an open question as there is neither a unified theory nor unanimous empirical evidence. This study argues that using product market competition and product fluidity may explain scenarios where CSR is a value increasing or value reducing investment. Results from IV-GMM regressions that treat CSR as endogenous find that CSR is a value increasing investment when market competition is high and/or product fluidity is high. When competition is low or product fluidity is low, CSR does not seem to have any significant effect on firm value. Furthermore, the effect of CSR on firm value is driven by CSR strengths as CSR concerns have no effect on firm value. Additionally, I find that community, diversity and environment dimensions are the main contributors to the total effect of CSR on frim value. Overall, the results suggest that external discipline imposed by high competition and high product fluidity makes CSR a value increasing investment.

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