Corporate social responsibility disclosure and market value: Family versus nonfamily firms
Mehdi Nekhili (),
Tawhid Chtioui and
Journal of Business Research, 2017, vol. 77, issue C, 41-52
We investigate the moderating role of family involvement in the relationship between corporate social responsibility (CSR) reporting and firm market value using a longitudinal archival data set in the French context. Our empirical results show that family firms report less information on their CSR duties than do nonfamily firms. However, market-based financial performance, as measured by Tobin's q, is positively related to CSR disclosure for family firms and negatively related to CSR disclosure for nonfamily firms. Family firms would benefit greatly from communicating commitment to CSR; specifically, they could obtain shareholders' endorsement more easily than nonfamily firms could.
Keywords: Corporate social responsibility; CSR reporting; Market value; Family firms (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:77:y:2017:i:c:p:41-52
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