Evidence from multiple countries: does investment into internal corporate social responsibility improve firm efficiency?

Tipo
Artigos

Ano
29/12/2021

Linha de Pesquisa
Administração e Economia de Negócios

Autor(es)
Arum Setyowati, Peter Wanke, Fakarudin Kamarudin, A. N. Bany-Ariffin, Bolaji Tunde Matemilola

Orientador

https://doi.org/10.1080/20430795.2021.2016362


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Journal of Sustainable Finance & Investment, Vol. ahead-of-print No. ahead-of-print. Abstract: This paper investigates the relationship between internal corporate social responsibility (ICSR) and firm efficiency. Our research employed a two-stage analysis of 33,413 firm-year observations from between 2008 and 2020. First, we measured the level of firm efficiency using data envelopment analysis (DEA). Second, we used panel regression to investigate the impact of investments made by firms into ICSR on their efficiency. Our results showed that such investments into ICSR (e.g. on employee development) increased firm efficiency during the study period.

Keywords: Internal corporate social responsibility, Firm efficiency, Data envelopment analysis.

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