Corporate social responsibility performance, financial distress and firm life cycle: evidence from Australia

被引：135

作者：

Al-Hadi, Ahmed ^{[1
]}

Chatterjee, Bikram ^{[2
]}

Yaftian, Ali ^{[3
]}

Taylor, Grantley ^{[1
]}

Hasan, Mostafa Monzur ^{[4
]}

机构：

[1] Curtin Univ, Sch Accounting, Curtin Business Sch, Perth, WA, Australia

[2] Univ Waikato, Waikato Management Sch, Dept Accounting, Hamilton, New Zealand

[3] Deakin Univ, Deakin Business Sch, Dept Accounting, Burwood, Vic, Australia

[4] Curtin Univ, Sch Econ & Finance, Curtin Business Sch, Perth, WA, Australia

来源：

ACCOUNTING AND FINANCE | 2019年 / 59卷 / 02期

关键词：

Corporate social responsibility; Financial distress; Corporate life cycle; RISK; INVESTMENT; MANAGEMENT; REPUTATION; LIQUIDITY; POLICY; CSR;

D O I：

10.1111/acfi.12277

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study examines the association between corporate social responsibility (CSR) performance and financial distress and additionally the moderating impact of firm life cycle stages on that association. Based on a sample of 651 publicly listed Australian firm-years' data covering the 2007-2013 period, our regression results show that positive CSR activity significantly reduces financial distress of the firm. In addition, the negative association between positive CSR performance and financial distress is more pronounced for firms in mature life cycle stages. Our results are robust to alternative proxy measures of financial distress, CSR performance and life cycle stages.

引用

页码：961 / 989

页数：29

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