Philanthropic giving, market-based performance and institutional ownership: Evidence from an emerging economy

Sudipta Bose, Jyotirmoy Podder and Kumar Biswas

The British Accounting Review, 2017, vol. 49, issue 4, 429-444

Abstract: This paper investigates the association of philanthropic giving with market-based performance and institutional ownership using data from banks in Bangladesh from 2007 to 2013. Our findings suggest that banks with a higher level of philanthropic giving achieve better performance, with a positive association also found between philanthropic giving and institutional ownership. This implies that institutional owners invest in banks that contribute more to philanthropic activities. These findings should be of interest to managers, regulators and policy makers in countries that share similar financial and socio-economic systems.

Keywords: Philanthropic giving; Corporate social responsibility; Firm performance; Institutional shareholders; Emerging economy (search for similar items in EconPapers)
JEL-codes: G38 M14 M40 M41 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bracre:v:49:y:2017:i:4:p:429-444

DOI: 10.1016/j.bar.2016.11.001

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