Oil price uncertainty, CSR and institutional quality: A cross-country evidence

Dinh Phan (), Vuong Thao Tran, Chwee Ming Tee and Dat Nguyen

Energy Economics, 2021, vol. 100, issue C

Abstract: This study investigates the relationship between crude oil price uncertainty and corporate social responsibility activities of oil and gas companies around the world. Using a cross-country dataset that consists of 283 oil and gas firms from 27 countries for the period of 2002–2017, we reveal three key findings. First, consistent with our hypothesis, the oil price uncertainty statistically significantly and negatively impacts corporate social responsibility engagement. Second, firms in the oil and gas industry reduce activities in the environmental and social pillars of corporate social responsibility more aggressively than those in the corporate governance pillar. Third, the negative effect of crude oil price uncertainty on corporate social responsibility is moderated by the country-level institutional quality. Our main results are consistent using a wide range of robustness tests.

Keywords: Oil price uncertainty; Corporate social responsibility; Institutional quality; Oil and gas companies (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0140988321002450
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:100:y:2021:i:c:s0140988321002450

DOI: 10.1016/j.eneco.2021.105339

Access Statistics for this article

Energy Economics is currently edited by R. S. J. Tol, Beng Ang, Lance Bachmeier, Perry Sadorsky, Ugur Soytas and J. P. Weyant

More articles in Energy Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().