Does social responsibility improve firm value? Evidence from mandatory corporate social responsibility regulations in India

Jadiyappa Nemiraja; Iyer Subramanian R.; Jyothi Pavana

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Does social responsibility improve firm value? Evidence from mandatory corporate social responsibility regulations in India

机译：社会责任是否提高了公司价值？来自印度强制性企业社会责任法规的证据

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The debate on the impact of corporate social responsibility (CSR) on firm value is still unsettled. Empirically, research designs cannot unequivocally prove that CSR affects firm value because CSR and firm value could be predetermined. Using a natural experiment, we prove that CSR positively affects firm value. In this study, we use the mandatory CSR spending regulation implemented by India in 2015, as a natural setting. We compare the changes in the firm value during the pre- and postregulation period. Our results show that market value increases for firms that were forced to spend on CSR during postregulation period.

机译：关于企业社会责任（CSR）对公司价值的影响的辩论仍然不稳定。经验上，研究设计不能明确证明CSR影响了坚定的价值，因为CSR和公司值可以预先确定。使用自然的实验，我们证明了CSR积极影响了坚定的价值。在这项研究中，我们使用印度在2015年实施的强制性CSR支出规范作为自然环境。我们在预购期间和主持期间比较了公司价值的变化。我们的研究结果表明，在专业期间，被迫在CSR上市的公司的市场价值增加。

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来源
《International review of finance》 |2021年第2期|653-660|共8页
作者
Jadiyappa Nemiraja; Iyer Subramanian R.; Jyothi Pavana;
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作者单位

Birla Inst Technol & Sci Pilani Hyderabad Campus Hyderabad India;

Univ New Mexico FITE Dept Albuquerque NM 87131 USA;

ICFAI Fdn Higher Educ Dept Finance Hyderabad India;

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原文格式 PDF
正文语种 eng
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关键词
corporate social responsibility; firm value; India; international; regulation;

机译：企业社会责任;坚定的价值;印度;国际;监管;

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1. Regulation on Corporate Social and Environmental Responsibility (CSER) in Indonesia: Changing Concept of Corporate Social Responsibility (CSR) from Voluntary to Mandatory [J] . Sri Bakti Yunari, Suhariningsih ., Rachmad Safa’at, Journal of Law, Policy and Globalization . 2019,第2期

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2. Is Corporate Social Responsibility in India Still in a Confused State?-A Study of the Participation of the Private Sector Companies of India in Corporate Social Responsibility Activities [J] . Sumona Ghosh Global Business Review . 2015,第1期

机译：印度的企业社会责任是否仍处于混乱状态？-印度私营部门公司参与企业社会责任活动的研究
3. The Effect Of Mandatory Regulation On Corporate Social Responsibility Reporting Quality: Evidence From China [J] . Jianling Wang, Gaoliang Tian, Weiguo Fan, The journal of applied business research . 2017,第1期

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机译：企业社会责任是否保存公司？企业社会责任，坚实能力，环境影响和坚定的违约风险探索
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6. Ethical leadership corporate social responsibility firm reputation and firm performance: A serial mediation model [O] . Nguyen Thi Thao Nguyen, Nguyen Phong Nguyen, Tu Thanh Hoai 2021

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7. MEASURING PERFORMANCE IN TERMS OF THE SOCIAL DIMENSION OF CORPORATE RESPONSIBILITY TO EXTERNAL STAKEHOLDERS – SELECTED ISSUES Abstract: Purpose – to present social context of corporate responsibility and the scope of the actions taken by companies in this area to external stakeholders, which include contractual and contextual stakeholders, as well as to propose performance measures in this area. Design/Methodology/Approach – the paper is based on analysis of the literature, the method of analysis of the sources was used. Findings – the article focuses on the social dimension of corporate responsibility and the measurement of its performance in this area. Originality/ Value – article presents an own proposal of set of achievements’ measures in the area of the social nature of corporate responsibility Keywords: corporate social responsibility, social area, performance measurement, stakeholders [O] . Elżbieta Jaworska 2015

机译：衡量外部利益相关者的企业责任的社会维度的表现 - 选定问题摘要：目的 - 以企业责任的社会背景以及本领域公司所采取的行动范围，包括合同和上下文的利益攸关方以及提出该领域的绩效措施。设计/方法/方法 - 本文基于对文献的分析，使用了源的分析方法。调查结果 - 文章侧重于企业责任的社会维度和在该地区的表现的衡量。原创性/价值 - 文章在公司责任的社会性质领域提出了一套成就措施的关键词：企业社会责任，社会责任，社会领域，绩效衡量，利益相关者

Does social responsibility improve firm value? Evidence from mandatory corporate social responsibility regulations in India

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