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Does Corporate Social Responsibility Enhance Financial Performance? Evidence from Australia
Australian Accounting Review ( IF 2.680 ) Pub Date : 2021-07-27 , DOI: 10.1111/auar.12347
Van Ha Nguyen 1 , Frank W. Agbola 2 , Bobae Choi 2
Affiliation  

Despite the heightened interest in corporate social responsibility (CSR) in recent years, the question of whether CSR affects a firm's financial performance remains unresolved. Using a sample of Australian publicly listed firms over the period 2009–2015, we find that CSR enhances financial performance. The positive relationship is more pronounced in mining firms than it is in non-mining firms. However, the financial benefit of CSR is negatively moderated by the level of industry competition. These empirical findings remain robust after controlling for sample selection bias and endogeneity and employing alternative variable measures and estimation methods. Overall, our findings highlight the importance of industry characteristics in explaining the effects of CSR on financial performance.

中文翻译:

企业社会责任是否能提高财务绩效?来自澳大利亚的证据

尽管近年来对企业社会责任 (CSR) 的兴趣日益浓厚,但 CSR 是否会影响公司的财务业绩的问题仍未得到解决。使用 2009-2015 年期间澳大利亚上市公司的样本,我们发现企业社会责任提高了财务绩效。这种正相关关系在矿业公司中比在非矿业公司中更为明显。然而,企业社会责任的财务收益受到行业竞争水平的负面影响。在控制了样本选择偏差和内生性并采用替代变量测量和估计方法后,这些实证结果仍然稳健。总体而言,我们的研究结果强调了行业特征在解释企业社会责任对财务绩效的影响方面的重要性。
更新日期:2021-07-27
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