The impact of the dimensions of social performance on firm risk

被引：232

作者：

Bouslah, Kais ^{[1
]}

Kryzanowski, Lawrence ^{[2
]}

M'Zali, Bouchra ^{[3
]}

机构：

[1] Univ St Andrews, Sch Management, St Andrews KY16 9AJ, Fife, Scotland

[2] Concordia Univ, Dept Finance, Montreal, PQ, Canada

[3] Univ Quebec Montreal, Dept Strategy Social & Environm Responsibil, CRSDD, CEREGMIA, Montreal, PQ, Canada

来源：

JOURNAL OF BANKING & FINANCE | 2013年 / 37卷 / 04期

关键词：

Volatility; Idiosyncratic risk; Social performance; Strengths; Concerns; FINANCIAL PERFORMANCE; STAKEHOLDER MANAGEMENT; CORPORATE GOVERNANCE; IDIOSYNCRATIC RISK; SHAREHOLDER VALUE; CROSS-SECTION; RESPONSIBILITY; MODELS; COST; EQUILIBRIUM;

D O I：

10.1016/j.jbankfin.2012.12.004

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the impact of the individual dimensions of social performance (SP) on firm risk (total and idiosyncratic) using 16,599 firm-year observations over the period 1991-2007. We find that firm risk for S&P500 members is positively affected by Employee, Diversity, and Corporate Governance concerns. On the other hand, Community (Diversity) strengths negatively (positively) affect their risk. As to non-S&P500 members, firm risk is positively affected by Employee concerns and Diversity strengths. However, firm risk of non-S&P500 members is negatively affected by Environment strengths. The direction of causation between firm risk and SP depends on the dimension examined. (C) 2012 Elsevier B.V. All rights reserved.

引用

页码：1258 / 1273

页数：16

共 50 条

[41] The impact of corporate social responsibility on firm financial performance: does corporate governance matter?
Gharbi, Manel
Jarboui, Anis
INTERNATIONAL JOURNAL OF LAW AND MANAGEMENT, 2024, 66 (06) : 681 - 693
[42] A social capital view of women on boards and their impact on firm performance
Oldford, Erin
Ullah, Saif
Hossain, Ashrafee Tanvir
MANAGERIAL FINANCE, 2021, 47 (04) : 570 - 592
[43] Impact of Restricted Voting Share Structure on Firm Value and Performance
Jog, Vijay
Zhu, PengCheng
Dutta, Shantanu
CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW, 2010, 18 (05) : 415 - 437
[44] Corporate Social Responsibility and Firm Idiosyncratic Risk in Different Market States
Chen, Roger C. Y.
Hung, Shih-Wei
Lee, Chen-Hsun
CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, 2018, 25 (04) : 642 - 658
[45] The impact of taxation on firm performance and risk: Evidence from Greece
Rompotis, Gerasimos G.
QUANTITATIVE FINANCE AND ECONOMICS, 2024, 8 (01): : 29 - 51
[46] ESG and Firm Risk: Evidence in Korea
Khorilov, Tokhir Gaybiddinovich
Kim, Jungmu
SUSTAINABILITY, 2024, 16 (13)
[47] Corporate Environmental Responsibility and Firm Risk
Cai, Li
Cui, Jinhua
Jo, Hoje
JOURNAL OF BUSINESS ETHICS, 2016, 139 (03) : 563 - 594
[48] Environmental, Social, Governance Activities and Firm Performance: Evidence from China
Ruan, Lei
Liu, Heng
SUSTAINABILITY, 2021, 13 (02) : 1 - 16
[49] Corporate Social Performance, Competitive Advantage, Earnings Persistence and Firm Value
Gregory, Alan
Whittaker, Julie
Yan, Xiaojuan
JOURNAL OF BUSINESS FINANCE & ACCOUNTING, 2016, 43 (1-2) : 3 - 30
[50] An Empirical Examination of Firm, Industry, and Temporal Effects on Corporate Social Performance
Short, Jeremy C.
McKenny, Aaron F.
Ketchen, David J.
Snow, Charles C.
Hult, G. Tomas M.
BUSINESS & SOCIETY, 2016, 55 (08) : 1122 - 1156

← 1 2 3 4 5 →