Abstract

This study investigates empirically the impact of inward FDI on host firm Corporate Social Responsibility (CSR) performance in South Africa. The data used for the study was sourced from the Johannesburg Stock Exchange and the Public Investment Corporation Governance Survey index for a period of 3 years ranging from 2011 to 2013. The study employs Panel Corrected Standard Errors (PCSE) and Seemingly Unrelated Regression (SUR) to estimate the effect of FDI on CSR and thus addresses contemporaneous cross-correlations across the panel cross-sections as well as endogeneity between FDI and CSR. It is established from the study that FDI has a strong positive impact on firm CSR performance. When CSR is decomposed further into its major components, FDI positively impacts social and environmental components but has no impact on governance components.

摘要

本研究实证调查了对内 FDI 对南非东道公司企业社会责任 (CSR) 绩效的影响。用于研究的数据来自约翰内斯堡证券交易所和公共投资公司治理调查指数，为期 3 年，从 2011 年到 2013 年。该研究采用面板校正标准误差 (PCSE) 和看似无关的回归 (SUR)估计 FDI 对 CSR 的影响，从而解决面板横截面的同期互相关以及 FDI 和 CSR 之间的内生性。研究表明，FDI 对企业的 CSR 绩效有很强的积极影响。当企业社会责任进一步分解为其主要组成部分时，外国直接投资会对社会和环境组成部分产生积极影响，但对治理组成部分没有影响。