Article2021

Corporate social responsibility, firm value and life cycle: evidence from Southeast Asian countries

Tifanny Dwijaya Hendratama · Yu‐Chuan Huang

42 citations0/0 files storedJournal of Applied Accounting Research

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Corporate Social Responsibility Reporting Corporate Identity and Reputation Corporate Governance and Financial Management

Abstract

Purpose This study extends related research on corporate social responsibility (CSR) into the less-researched realm of Southeast Asia setting by investigating the role of life cycle stages on the relationship between CSR and firm value. Design/methodology/approach This study uses a sample of 1,247 firm-year observations of firms listed in Southeast Asia from 2012 to 2018. Descriptive, multiple regression and sensitivity analyses are presented in the study. Findings The results provide evidence that although CSR and firm value, in general, have a positive relationship, the relationship is contingent on the stages of firm's life cycle. The effect of each CSR dimension on firm value differs across life cycle stages. The social dimension of CSR predicts higher firm value at the introduction and mature stages. The governance dimension affects firm value at the growth and shake-out/decline stages. Moreover, the environmental dimension affects firm value only at the later stage of the life cycle. Research limitations/implications This study is limited to five countries in Southeast Asia, namely Indonesia, Malaysia, Philippines, Singapore and Thailand from 2012 to 2018. Future studies may explore other countries and investigate the impact of country classification on the relationship between CSR and firm value. Practical implications Policymakers, managers and other decision-makers may have a better understanding of firm's behavior in different life cycle stages. With such understanding, CSR will be successfully adopted in decision making, formulation and implementation of policies. Originality/value CSR-related research in Southeast Asia remains an under-studied domain, and little attention has been dedicated to different dimensions of CSR and life cycle in the area of CSR-related preference for decision making.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 42 citations exist upstream.

References

2007The Social Responsibility of Business Is to Increase Its Profits 1979A Three-Dimensional Conceptual Model of Corporate Performance 1997THE CORPORATE SOCIAL PERFORMANCE-FINANCIAL PERFORMANCE LINK 1990WHAT'S IN A NAME? REPUTATION BUILDING AND CORPORATE STRATEGY.1995A Natural-Resource-Based View of the Firm 1997A RESOURCE-BASED PERSPECTIVE ON CORPORATE ENVIRONMENTAL PERFORMANCE AND PROFITABILITY.2017Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis 2006Corporate Social Responsibility: Strategic Implications*

Cited by

2022The impact of corporate governance on firms’ value in an emerging country: The mediating role of corporate social responsibility and organisational identification 2023Environmental, Social, and Corporate Governance (ESG), Life Cycle, and Firm Performance: Evidence from China

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.