DOES OWNERSHIP CONCENTRATION MODERATES CORPORATE SOCIAL RESPONSIBILITY-FIRM PERFORMANCE RELATIONSHIP?
Keywords:
Ownership concentration, CSR, Firm financial performanceAbstract
CSR is basically a commitment demanded from companies to protect stakeholder interests, enhance societal conditions, and contribute to sustainable development. This study investigated the relationship between corporate social responsibility and firm financial performance with a particular focus on measuring the moderating impact of ownership concentration on the CSR-performance relationship. The data is collected from the companies’ annual reports, State Bank of Pakistan database and the Pakistan Stock Exchange for the period 2014-2020. The fixed effect regression model is used to measure the impact of CSR on firm financial performance. The results of the study revealed that CSR has a significant negative impact on firm financial performance. Furthermore, ownership concentration also negatively moderates the relationship between CSR and firm financial performance.
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Copyright (c) 2023 Mahnoor Arif, Zia ur Rehman, Asad Khan, Asim Rahman
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