Corporate social responsibility, firm performance, and firm risk: the role of firm reputation

被引：41
|
作者：
Liu, Min [1 ]
Lu, Weijie [2 ]
机构：
[1] Zhongnan Univ Finance & Law, Sch Accounting, Wuhan, Hubei, Peoples R China
[2] Wuhan Univ, Econ & Management Sch, 299 Bayi Rd, Wuhan 430072, Hubei, Peoples R China
来源：
ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS | 2019年
关键词：
Corporate social responsibility (CSR); firm performance; firm risk; firm reputation; mediation effect; FINANCIAL PERFORMANCE; CONSUMER TRUST; CSR; ANTECEDENTS; IMPACT; CONSEQUENCES; EMPLOYEES; COMPANY;
D O I：
10.1080/16081625.2019.1601022
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper examines the impacts of firms' corporate social responsibility (CSR) engagements on firm performance and firm risk, and explores the underlying mechanisms. We empirically demonstrate the active effect of CSR activities on firm performance improvement and risk mitigation. We further examine the role of firm reputation with published data from Fortune's Most Admired Companies list. We document a significant positive association between CSR and firm reputation, and find that firm reputation is positively related to firm performance while negatively related to firm risk. Based on our analyses, firm reputation mediates the effects of CSR on firm performance and firm risk. This study contributes to the CSR literature through exploring CSR-outcomes relationships with published reputation data.
引用
收藏
页码：525 / 545
页数：21
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