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Corporate social responsibility and institutional investors: the intervening effect of financial performance

机译:企业社会责任和机构投资者:财务表现的干预效果

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Purpose - The research on the role of corporate social responsibility in investors' decision process has proliferated over the past few decades. This paper aims to explore the mediating role of financial performance in the relationship between corporate social responsibility and institutional investors. Design/methodology/approach - Panel regression was performed on a sample of 29 commercial banks nine years from 2009 to 2017. Findings - The initial findings of the study show that that corporate social responsibility has a positive and significant impact on institutional investors. However, when the interaction term (financial performance) was incorporated, the relationship between CSR and institutional turns out to be neutral. The study concludes that financial performance plays a pivotal role in the selection of investment avenues. Originality/value - In Indian context, there is a dearth of research work which studies the impact of sustainable practices on investors' decision process. This topic has received wider attention but lacks insights from developing countries, like India. This article presents a new approach to verify the relationship through the mediating variable (financial performance).
机译:目的 - 在过去几十年中,投资者决策过程中企业社会责任在投资者决策过程中的作用研究。本文旨在探讨财务绩效在企业社会责任与机构投资者之间关系中的调解作用。设计/方法/方法 - 面板回归于2009年至2017年的29个商业银行的样本上进行了九年。研究结果表明,该研究的初步调查结果表明,企业社会责任对机构投资者产生积极和重大影响。但是,当互动项(财务表现)被纳入时,企业社会责任与机构之间的关系结果是中性。该研究得出结论,财务表现在投资途径的选择中发挥着关键作用。原创性/价值 - 在印度语境中,有一种研究工作,研究了可持续行法对投资者决策过程的影响。这一主题已获得更广泛的注意,但缺乏来自印度的发展中国家的见解。本文介绍了一种通过调解变量(财务表现)验证关系的新方法。

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