Corporate social responsibility, industry concentration, and firm performance: Evidence from emerging Asian economies

Asif Saeed, Faisal Alnori and Gohar Yaqoob

Research in International Business and Finance, 2023, vol. 64, issue C

Abstract: Social and environmental performance are two pillars of corporate social responsibility that integrate the desires of firms to enhance their competitive advantages and demonstrate their commitment to society. Based on a sample of eight emerging Asian markets, this study investigates the role of firms’ social and environmental performance in their financial performance, and how this may vary under different levels of industry competition. The results show that the social dimension is more effective in increasing firm performance relative to the environmental dimension. Further, the performance of socially oriented firms is more stable in highly competitive industries relative to environmentally oriented firms. Overall, this study supports the view that socially responsible firms have a competitive edge over their rivals that leads to higher profitability.

Keywords: Social responsibility; Environment; Firm performance; Emerging market (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:64:y:2023:i:c:s0275531922002501

DOI: 10.1016/j.ribaf.2022.101864

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