Articlegreen2018

Peer pressure, CSR spending, and long-term financial performance

Mahfuja Malik · Md Al Mamun · Abu S. Amin

45 citations0/0 files storedAsia-Pacific Journal of Accounting & Economics

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Corporate Social Responsibility Reporting Corporate Social Responsibility and Sustainability Corporate Governance and Financial Management

Abstract

This study investigates the role of peer pressure on banks’ Corporate Social Responsibility (CSR) activities and the long-term impacts of their CSR spending on financial performance. We find that a bank’s CSR expenditure increases with that of its peer-banks. However, there is no association between a bank’s CSR expenditure and that of banks of its non-peer group. Additional analysis suggests that a bank’s CSR spending increases not only the current profitability but also its future profitability. This study establishes the evidence of the peer pressure on CSR spending, and the value of CSR in terms of short- and long-term benefits.

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References

1990WHAT'S IN A NAME? REPUTATION BUILDING AND CORPORATE STRATEGY.2010Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting 2000Corporate social responsibility and financial performance: correlation or misspecification?1988CORPORATE SOCIAL RESPONSIBILITY AND FIRM FINANCIAL PERFORMANCE.1992Determinants of corporate social responsibility disclosure: An application of stakeholder theory 2006The role of environmental disclosures as tools of legitimacy: A research note 1999THE EFFECTS OF CORPORATE GOVERNANCE AND INSTITUTIONAL OWNERSHIP TYPES OF CORPORATE SOCIAL PERFORMANCE.2015Active Ownership

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