Corporate Social Responsibility and Financial Performance: The Moderating Role of Ownership Concentration in Turkey
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Date
2019
Authors
Akben Selçuk, Elif
Journal Title
Journal ISSN
Volume Title
Publisher
MDPI
Abstract
The objective of this study is to investigate the impact of corporate social responsibility (CSR) engagement on firm financial performance in a developing country, Turkey, and to analyze the moderating role of ownership concentration in the CSR-financial performance relationship. The sample consists of non-financial public firms listed on the Borsa Istanbul (BIST)-100 index and covers the period between 2014 and 2018. Empirical results using an instrumental variable approach show that corporate social responsibility has a positive relationship with financial performance. Furthermore, findings indicate that this relationship is negatively moderated by ownership concentration even when endogeneity is controlled for.
Description
Keywords
Corporate social responsibility, Corporate governance, Financial performance, Developing countries, Ownership concentration, Moderation
Turkish CoHE Thesis Center URL
Citation
95
WoS Q
N/A
Scopus Q
Q1
Source
Volume
11
Issue
13