Corporate Social Responsibility Index Research Articles

Įmonių socialinės atsakomybės atskleidimo vertinimas didžiausiuose Lietuvos bankuose

The article examines the importance and regulation of corporate social responsibility disclosure. Based on the GRI standards and the recommendations of the Bank of Lithuania, the paper develops a methodology for calculating the corporate social responsibility index and a model for assessing its quality. The paper presents the results of an empirical study conducted to assess the disclosure of corporate social responsibility in the financial statements of the largest Lithuanian banks in the period 2018-2022. The results show that Lithuanian banks tend to disclose more than 91% of the recommended socially responsible information, while the quality of the reports, according to the selected criteria, reaches 64-82%. Nevertheless, it was noted that some banks do not produce CSR reports and publish group reports in languages other than Lithuanian. Some reports show signs of poor quality: the objectives are not specific and measurable and the textual information is repetitive throughout the study period.

Sustainability Assessment in Mining: A CSR-Based Analysis Model for Social and Environmental Impact

AbstractA simple approach is proposed to study the main factors related to the mining activity’s impact on society, through a corporate social responsibility (CSR) qualitative analysis based on the type of raw materials extracted, either by mine site or firm. A CSR index is defined by 30 environmental and socioeconomic elements and, subsequently, it is weighted by three primary factors; the recycling rate, the transition to green energy, and geographical conditions. The proposed method is adaptable to any change in raw material needs over time and, depending on the analyzed country or region, is applicable to any type of mineral resource. The system can be used to drive engagement with the different stakeholders, add value to a project, and establish a CSR continuous improvement system.

Corporate Social Responsibility, Corporate Financial Performance and the Confounding Effects of Economic Fluctuations

This study aims to explore the relationship between Corporate Social Responsibility (CSR) and corporate financial performance in five different countries: USA, UK, Germany, Japan, and Australia. Data is obtained from studies that measure CSR through various metrics, such as CSR Index, CSR Score, CSR Disclosure, CSR Rating, and CSR Spending, while financial performance is measured using various indicators such as Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin, Tobin's Q, Operating Income, and Market Value. Data analysis was performed using linear regression statistical methods to evaluate the relationship between CSR variables and financial performance. It found that there was a significant positive relationship between CSR and corporate financial performance in all countries studied. Companies that are more active in CSR activities tend to record better financial performance. Variations between countries suggest that local context influences the strength of these relationships. The managerial implication of these findings is that investing in CSR can improve a company's reputation, strengthen its position in the market, and improve long-term financial performance. However, further studies are still needed to understand the factors influencing the relationship between CSR and financial performance across various industry and geographic contexts.

The Relationship between Corporate Social Responsibility and Financial Performance

With the rise of sustainable development, Environmental, Social, and Governance (ESG) factors have become crucial for evaluating corporate social responsibility. This research therefore examines the relationship between CSR and company financial outcomes using statistical regression analysis. Strong evidence is noted that the relationship of financial outcomes with Corporate Social Responsibility (CSR) activity postulates a positive relationship amid CSR's shareholder accountability and both the comprehensive CSR index and corporate performance. These findings point out that integration of ESG criteria in investment decisions is important because they provide insight that a company is bound to sustain and meet up with its resistance in the long run. Further, research has outpointed the significance of corporate governance directing CSR efforts towards infusing business with transparency and responsibility. Focusing on sustainability and social responsibility enhances the way a company is perceived, attracts investment, and helps to mitigate risks linked with the environment and society. These are the main observations that underline the importance of public awareness and the necessity for organizations to develop future-oriented CSR approaches that would positively feed into a more sensitive corporate environment and sustainable economic development.

The impact of corporate governance and corporate social responsibility on SA REITs’ performance

ABSTRACT Corporate governance (CG) is one of the most sought after areas of research globally. This paper employs a corporate governance index (CGI) formulated from the KING III and IV reports to examine the link between corporate performance and the quality of CG and corporate social responsibility (CSR) of SA REITs listed on the Johannesburg Stock Exchange (JSE). The CGI index is created from King III and IV to measure the compliance of 33 SA REITs listed on the JSE as of January 2023. These REITs are assessed from 2013. The empirical investigation using multiple correspondence analysis (MCA) reveals that CG practices have a positive influence on firm performances measured by TSR (such as total share return). The results imply that CG’s standard principles influences the firm performance of SA REITs with a higher magnitude. The CSR index is created from the King reports, and the MCA was also used. This indicates that an SA REIT that complies with CSR regulations will improve returns.

Green HRM for Enhanced Environmental Performance: A Circular Economy Perspective Aligned with SDGs

This empirical inquiry explores the use of Green HRM as a strategic tool to improve environmental performance within the context of a circular economy. We chose 200 employees from the Pakistan Stock Exchange (PSX) based on data from the Corporate Social Responsibility (CSR) index. The study employs Structural Equation Modeling-Partial Least Squares (SEM-PLS 4) to examine the relationship between organizational policies and the implementation of circular economy principles within the framework of Green HRM practices. This research is supported by the circular economy, which is defined as a fundamental change in thinking that promotes the reuse of resources, reduction of waste, and efficient use of resources. The SEM-PLS 4 approach is used to validate the theoretical framework that proposes that Green HRM practices provide a significant contribution to the promotion of circular economy initiatives, which in turn lead to considerable gains in environmental performance metrics. Moreover, this method is employed to evaluate the complex causal links in action. Policymakers and business leaders may facilitate the integration of Green HRM into sustainability programs by utilizing the study's findings. It is expected that human capital management will play a crucial role in achieving the circular economy paradigm. This research not only improves our understanding of how Green HRM affects sustainability, but also provides firms with a strategic roadmap for implementing circular economy models.

Studies on increased utilization of high-ash Indian coal in coke-making

ABSTRACT Due to low-ash coking coal scarcity, India depends on high-cost imported coal for coke making. The present work aims to increase the Indian coal input in the original coal blend for coke making. One typical Indian high-ash and one imported low-ash coal were used as reference materials, presently used in coal blend for coke production in IISCO Steel Plant Burnpur (ISP), West Bengal, India. Coal samples were ground, changing various parameters. The ash distribution in different particle sizes was evaluated. It is observed that decreasing the particle size up to −88 µs can reduce ash content from (18–23%) to (12–14%), which is generally considered suitable for the blended coal mixture used for coke making in the coke-oven battery in ISP. Reduced ash containing fraction of high- ash coal was utilized to evaluate the dilatation behavior and economics of the coking process by considering blending with different percentages of beneficiated Indian coal. From the behavioral study, it was observed that 20% blending would be economical for coke making without hampering the original blend property. The improved dilatation behavior was observed by incorporating 20% dry beneficiated Indian coal in the original blend. The CRI, CSR, and Micum index properties are identical with the normal blend and within the acceptable limit.

Relationship of market capitalization of the IBEX 35 to corporate social responsibility and transparency

AbstractThis paper seeks to determine whether the economic‐financial performance and value of the companies composing the IBEX 35 are related to the transparency with which these companies publish their economic and social data. Our goal is ultimately to establish the degree (if any) to which Spain's largest listed companies' commitments to transparency and CSR are related to their market capitalization volumes. We also evaluate the effectiveness—relative to the economic data and to each other—of the transparency and Corporate Social Responsibility (CSR) rankings prepared by Transparency International Spain and the Corporate Social Responsibility Observatory. The results indicate a high correlation of market capitalization to the transparency and CSR indexes, and a positive evaluation of using these tools for future lines of research in Spain.

Profitability, Corporate Social Responsibility Disclosure, and Corporate Value of Non-Cyclicals Listed in Indonesia

Firm value is a notable indicator for stakeholders in the capital market. The graph or movement of the value is triggered by many causes that thereof pictures a firm’s capability of success. This research observes how profitability, an insightful measurement of a firm’s profit, and Corporate Social Responsibility (CSR) disclosure, an important measurement of the currently rising environmental issues, influence the value of the Indonesia Stock Exchange 2017-2021 listed consumer non-cyclical firms. Return on Assets (ROA), CSR index, and Tobin’s Q are, respectively, the calculations to that of profitability, CSR, and a firm’s value. The result laid out ahead of this research shows of an absolute consideration to valuing non-cyclical firms’ value with their profitability. Firms are then encouraged to increase its profitability as a mean to increase its value. On the contrary, CSR, based on the SEOJK No. 16/SEOJK.04/2021, is seemingly attested to be insignificant of firms’ value and in addition indicates a regulation inadequately implemented. The authority as well as firms hope to evaluate and implement it accordingly.

CORPORATE SOCIAL RESPONSIBILITY AND MARKET-BASED PERFORMANCE: EXPLORING BI-DIRECTIONAL RELATIONSHIP IN AN EMERGING ECONOMY

Corporate Social Responsibility (CSR) is a critical indicator for bridging corporately responsible behavior and stakeholder inclusion towards achieving long-term development. While stakeholder and reputation-building theories suggest that CSR can affect organizational performance, slack resource theory proposes organizational performance can affect CSR. Accordingly, it indicates that CSR initiatives and firm performance have a bidirectional relationship. Despite many unidirectional studies conducted to examine CSR and firm performance interplay in diverse contexts, studies on bidirectional analyses to test contrasting theoretical standpoints in a single study are rare. However, examining the bi-directional role of CSR is crucial as it provides insights into using CSR as a strategic investment decision within the competitive organizational context. Therefore, this study aims to examine the relationship between CSR and market-based performance as a bidirectional study from an emerging country perspective. Study data was collected from the sustainability/CSR disclosures in annual reports published between 2011 and 2020 by the top hundred companies (identified based on market capitalization) listed on the Colombo Stock Exchange (CSE) in Sri Lanka using judgmental sampling. The CSR was measured using a weighted CSR score assessed based on a comprehensive CSR index with thirty sub-dimensions. Market-based performance was measured using earnings per share (EPS) and firm value, and the control variables were firm size and leverage. The data was analyzed in two phases to examine the two-way linkage between CSR and market-based performance using the fixed effect panel regression technique. The findings concluded that CSR positively impacts market-based performance, confirming the role of CSR as a strategic driver to enhance future profitability. However, the study could not find any bidirectional impact of market-based performance on CSR in an emerging context. Although higher CSR affects higher external performance, higher market-based performance does not affect increased CSR in Sri Lanka. It may be because external performance indicators represent only the future profitability of firms, and these indicators are generally highly volatile over a long period, especially in emerging countries like Sri Lanka.

Corporate Social Responsibility (CSR) and Engineering Management: Performance Implications

The engineering management literature is now focusing on customer-orientation (CO) and environmental issues. Our research explores these facets by incorporating CO in corporate social responsibility (CSR) programs, as customers demand firms to be increasingly environmentally conscious. The article explored and benchmark how multi-national companies (MNCs) with existing successful CSR programs, approach CSR strategically towards enhanced corporate financial performance (CFP). The article assessed how MNCs structure CSR management (the internal focus of the firm and organizational adjustments for CSR implementation) ensuring strategic use of CSR, and how to position CSR to affect stakeholders through external communication. Our article used primary and secondary data from publicly traded engineering dependent MNCs on the “Top-100 CSR Index” on NASDAQ-OMX stock exchange in Sweden (n = 82). The data was triangulated using their aggregated CSP score as rated by the investment service provider GES. The results significantly and positively indicate that MNCs with strategic CSR enjoys greater CFP (.454**).

Corporate Social Responsibility and Capital Structure

Objective: We analyze the effects of capital structure influence on corporate social responsibility (CSR) performance, represented by the ESG score. Prior studies have investigated distinct factors to settle CSR adoption. Nonetheless, corporate social responsibility literature has not yet achieved common consent. Method: This study uses a quantitative research approach. We used a sample of listed companies from the United States of America, China, Japan, Germany, India, the United Kingdom, France, Italy, Brazil, and Canada. Three estimators were applied in the regression model, OLS pooled, IV 2SLS, and GMM 2SLS. Results: Our findings indicate a positive and significant relationship between Capital Structure and CSR. Furthermore, we understand that the positive and statistically significant findings in the relationship between market value and corporate social responsibility index are because corporate social responsibility has an intangible asset in its constitution: the corporate reputation. Therefore, these results converge into accepting these practices, which generate a firm’s value, justifying the positive and significant association. Finally, it is essential to highlight that the variations found between countries, especially companies from nations with higher GDP, need a more substantial capital structure than smaller ones to obtain a positive CSR index. Contributions: The paper argues that the capital structure can be introduced related to adopting corporate social responsibility. It is worth noting that this research aims not to provide an optimal set of factors that affect corporate social responsibility practices but to highlight the intangible effect of corporate reputation generated by the capital structure that other studies can investigate.

Human Capital Efficiency, Free Cash Flow, Corporate Sustainability Performance and Internal Auditors

Corporate Sustainability Performance is linked to the company's business strategy, which aims to benefit stakeholders while improving people's lives and protecting the environment. This study aims to examine the effect of Intelectual Capital and Free Cash Flow on Corporate Sustainability Performance with Internal Auditors as the moderating variable in this research. Intellectual Capital is proxied by Human Capital Efficiency, Structural Capital Efficiency and Capital Employed Efficiency. Meanwhile, Corporate Sustainability Performance is proxied by the CSR index which is based on the 2016 Global Reporting Initiative Standard. The population of this study are companies included in the LQ45 Index during the 2017- 2021 period. The sample was selected using purposive sampling method and 20 companies were selected as the research sample. The results of this study indicate that Human Capital, have no significant effect on the Company's Sustainability Performance. Meanwhile, Free Cash Flow has a significant positive effect on the Company's Sustainability Performance. Internal auditors can weaken the relationship between Human Capital and Corporate Sustainability Performance, the relationship between Free Cash Flow and Corporate Sustainability Performance. Meanwhile, the Internal Auditor can strengthen the relationship between Capital Employed and Corporate Sustainability Performance. The results of this study have an impact on company management to consider the company performance and as information for investors in determining investment decisions.

State Ownership and Corporate Social Responsibility: An Investigation on Nigerian Data

Purpose: The paper examines the central issue underpinning the growing international literature and arguments that different ownership types have varying implications for a firm’s CSR engagement. It compliments evolving studies by looking at the effect of state ownership and other types of ownership structures on CSR, specifically in the Nigerian industry. It is argued that the impact of ownership structure on corporate decisions to allocate resources to Corporate Social Responsibility (CSR) has assumed renewed significance in the burgeoning literature of developing economies, given the exigency for corporate executives to allocate firm specific resources to other social objectives that may detract from profit maximization.
 Methodology: This paper differs markedly from the methodologies of previous studies which used composite CSR indices. It deconstructs CSR expenditure into five categories – public goods, socially desirable goods, corporate philanthropy, employee relations and environmental conservation – and estimates the effects of government, foreign and institutional ownership on CSR variables controlling for such factors as firm size, return on assets and capital intensity. Using new data on listed Nigerian firms, this paper carries out its empirical investigation with panel data estimation in order to deal with heterogeneity and endogeneity issues.
 Findings: The findings of this paper indicate that different ownership structures have varying implications for the five forms of CSR investigated in this study. It reveals that government ownership has no significant effect on CSR expenditure on public goods, corporate philanthropy and environmental conservation. However, it finds that government ownership also significantly influences CSR expenditure on socially desirable goods and employee relations.
 Unique contribution to theory, practice and policy:Theoretically, this paper extends the trajectory of CSR discourse to include an elaborate investigation of the impact of ownership structures on CSR practices in all the major sectors of Nigerian economy.The paper argues that its empirical results have several policy implications for good corporate governance practices in Nigeria and other emerging economies. This paper suggests the need to institute incentives schemes and regulatory constraints that would compel government, foreign and institutional ownership to align their incentives with some forms of CSR practices.

The relationship between CRI and CSR indices and other quality parameters of coking coal from the Pniówek deposit (SW part of the USCB, Poland)

The relationship between CRI and CSR indices and other quality parameters of coking coal from the Pniówek deposit (SW part of the USCB, Poland)

Development of a sustainable corporate social responsibility index for performance evaluation of the energy industry: A hybrid decision-making methodology

The ever-increasing pressure from stakeholders and policymakers on energy companies to achieve Sustainable Development Goals (SDGs) and Corporate Social Responsibility (CSR) mission requires them to reinvent their policies and practices. This study aims to examine the performance of alternative business models for the oil and gas industry by employing a hybrid business analytics methodology under a fuzzy environment resulting in a generalizable model named “Sustainable Development Goals-oriented CSR Index.” The proposed methodology employs a hybrid framework that utilizes bipolar Q-rung Orthopair Fuzzy (q-ROF), Multi Stepwise Weight Assessment Ratio Analysis (M-SWARA), and Elimination and Choice Translating Reality (ELECTRE) methods. The findings show that (i) the proposed model is reliable and consistent throughout the similar fuzzy set value ranges, (ii) clean energy is the most important SDG-oriented CSR Index factor for the sustainable energy industry in emerging economies, (iii) drilling is the best alternative energy sourcing for the oil and gas industry, and (iv) clean energy projects have the highest priority for energy investors. The results also highlight that global warming can be managed with effective energy practices for long-term sustainability. Finally, the findings suggest that energy companies should have the essential technological infrastructure and capable workforce to increase investment efficiency.

Intrinsic drivers of the reputation for CSR: a cognitive analysis of consumer expectations

PurposeThe appraisal of corporate reputation based on third-party corporate social responsibility (CSR) indices appears to have been institutionalized. The endorsement of such an approach by sustainability custodians and influencers undermines the uptake of the morality and legitimacy of CSR. This study takes a social realist perspective, which suggests that social phenomena such as CSR and corporate reputation are shaped by social structures and power relations. This study aims to contribute to a deeper understanding of the complex relationship between CSR and corporate reputation and understand ways in which the constructs are influenced by cognitive factors.Design/methodology/approachThis study surveyed 411 respondents across five shopping malls and analyzed the data using path analysis of the structural equation modeling (SEM) technique. The mall-intercept survey sought to critically assess expectations of CSR vis-à-vis evaluation of corporate reputation. Based on a case study of three Johannesburg Stock Exchange listed companies, CSR expectations were measured along the philanthropic, economic, ethical and legal dimensions, while evaluation of corporate reputation was based on product quality, financial performance and social responsibility. SEM path analysis was used to extrapolate the predictive outcomes of CSR on corporate reputation.FindingsReputation for product quality and social responsibility is underpinned by the fulfillment of ethical CSR expectations, while philanthropic gestures enhance the evaluation of financial performance. Legal CSR significantly influences the reputation for social responsibility and product quality. Fulfillment of economic CSR expectations influences the reputation for product quality. However, no relationship was established between economic performance and social responsibility. Involvement in economic, philanthropic and particularly, legal CSR, are not indicative of the reputation for financial performance. Conversely, companies’ involvement in economic CSR does not suggest a higher propensity for social responsibility.Research limitations/implicationsThe predictive outcomes of CSR expectations on corporate reputation can reveal situated understanding of actual perceptions of corporate behavior.Practical implicationsEthical business conduct is synonymously associated with social responsibility while espoused corporate philanthropy signals strong financial performance. The awareness of consumers’ cognitive evaluation of corporate reputation can offer a pathway to corporate communication professionals, policy makers and agencies to rethink and reposition CSR efforts.Social implicationsInsensitivity to taken-for-granted cultural prescriptions and reliance on market-based reputational rankings undermine mutually beneficial stakeholder relationships and the social license to operate.Originality/valueThis study brings to the fore, cognitively dominated indicators of consumers’ perceptions of the reputation for CSR, to foster nuanced and halo-removed approaches to social responsibility. The authors show for the first time how companies’ skewed focus on corporate philanthropic giving paradoxically signals a capitalistic notion of social responsibility and unethical business conduct. This study offers a halo-removed orientation to the appraisal of CSR and corporate reputation.

Pengaruh Corporate Social Responsibility Terhadap Tax Avoidance

This study aims to obtain empirical evidence about the effect of corporate social responsibility on tax avoidance. This study uses 114 observations or unbalanced panel data of non-financial industries listed on the Indonesia Stock Exchange for the years 2015-2019. The dependent variable in this study is tax avoidance which is measured using cash effective tax rate. The independent variable in this study is a corporate social responsibility as measured by the CSR index based on the GRI standard. This study also uses control variables consisting of company size, leverage, and return on assets. In addition, the analysis enriches with a comparison of tax avoidance among industries. Using Multiple Linear Regression and software STATA 14, the study's results indicate that corporate social responsibility has a positive effect on tax avoidance. This result support risk management theory. This research provides a sign not only for the government but also for investors to pay attention to tax avoidance practices primarily for the firms with a high rate of CSR activities.

Evaluation of the degree of social responsibility in micro and small businesses in the food service sector

The objective of this study was to evaluate the degree of social responsibility in micro and small companies in the food service sector. The evaluations were applied to 63 fixed establishments dedicated to the preparation, sale and consumption of food, distributed in eight municipalities of the state of Jalisco, Mexico, which were grouped according to the categories established in the North American Industrial Classification System. A single visit survey was applied to each establishment. The Corporate Social Responsibility index was applied to the results. 6.3 % of the establishments were Socially Responsible, 54 % moderately responsible and 39.7 % as not responsible. The last two ones have elements of Corporate Social Responsibility, but not as structured programs. It contributes to obtain a deeper understanding of the problems involved in trying to apply a sustainable administrative management to accommodate a system of social responsibility, which supports and records the decisions that are being made in the company from this perspective, in order to plan successful intervention strategies.

The Effect of Enterprise Risk Management and Environmental Performance Toward Corporate Social Responsibility Disclosure (CSRD): Study in Mining Sector

The population is 47 Mining companies in IDX 2016-2018. Have PROPER rating and published annual report. The purpose to examine the effect of enterprise risk management(ERM) and environmental performance (EP) toward CSR Disclosure. Data were obtained from 63 samples and used sample selection method, purposive sampling method and IBM SPSS 26. The analysis statistic used is multiple linear regression analysis method. The ERM used COSO ERM Framework to disclosure 108 items, EP used PROPER rating represent in 5 ranking and CSRD used GRI G4 CSR index consisting 91 items, 3 categories. The study result shows that ERM have positive and significant effect on CSRD, while EP does not have significant affect on CSRD.