Does corporate social responsibility reporting enhance shareholders’ value? A simultaneous equation approach

Article

Rashid, Afzalur. 2018. "Does corporate social responsibility reporting enhance shareholders’ value? A simultaneous equation approach." Journal of Financial Reporting and Accounting. 16 (1), pp. 158-178. https://doi.org/10.1108/JFRA-10-2016-0084

Authors
Article Title	Does corporate social responsibility reporting enhance shareholders’ value? A simultaneous equation approach
ERA Journal ID	41128
Article Category	Article
Author	Rashid, Afzalur
Journal Title	Journal of Financial Reporting and Accounting
Journal Citation	16 (1), pp. 158-178
Number of Pages	21
Year	2018
Place of Publication	United Kingdom
ISSN	1985-2517
	2042-5856
Digital Object Identifier (DOI)	https://doi.org/10.1108/JFRA-10-2016-0084
Web Address (URL)	https://www.emerald.com/insight/content/doi/10.1108/JFRA-10-2016-0084/full/html
Abstract	Purpose – This study aims to examine whether corporate social responsibility (CSR) and relevant reporting enhances firms’ economic performance among the listed firms in Bangladesh. Design/methodology/approach – This study uses a content analysis to examine specific CSR-related attributes from 115 non-financial publicly listed firms in Bangladesh. Firm CSR reporting is evaluated against accounting and market performance measures, with a simultaneous equation approach used to control the potential endogeneity problem. Findings – This study finds that CSR reporting significantly influences firm performance under both performance measures, although a firm’s economic performance does not influence CSR reporting. Research limitations/implications – This study is subject to some limitations, such as the subjectivity or judgement associated in the coding process. Practical implications – The findings imply that although CSR reporting by firms in Bangladesh is discretionary in nature, the ones that report add value to their firm. Originality/value – This study contributes to the literature on the practices of CSR reporting in the context of the developing countries.
Keywords	performance, CSR, stakeholder theory, content analysis, legitimacy theory, instrumental stakeholder theory
Contains Sensitive Content	Does not contain sensitive content
ANZSRC Field of Research 2020	350107. Sustainability accounting and reporting
Public Notes	Files associated with this item cannot be displayed due to copyright restrictions.
Byline Affiliations	School of Commerce
Institution of Origin	University of Southern Queensland

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