Does Corporate Social Responsibility Enhance Financial Performance? Evidence from Australia

Title: Does Corporate Social Responsibility Enhance Financial Performance? Evidence from Australia
Creator: Van, Ha Nguyen; Agbola, Frank W.; Choi, Bobae
Relation: Australian Accounting Review Vol. 32, Issue 1, p. 5-18
Publisher Link: http://dx.doi.org/10.1111/auar.12347
Publisher: John Wiley & Sons
Resource Type: journal article
Date: 2022
Description: 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.
Subject: corporate social responsibility (CSR); financial performance; Australia; industry
Identifier: http://hdl.handle.net/1959.13/1451347
Identifier: uon:44163
Identifier: ISSN:1035-6908
Language: eng
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