The complementarity between corporate social responsibility disclosure and institutional investor in Jordan

Abdullah Daas and Reem Alaraj

International Journal of Islamic and Middle Eastern Finance and Management, 2019, vol. 12, issue 2, 191-215

Abstract: Purpose - The purpose of this paper is to explore corporate social responsibility (CSR) disclosure and its relation to institutional investor (INSV) of Jordanian private listed companies (PLCs). Design/methodology/approach - A unique sample of 159 largest companies over “a period of 8-years” listed on the ASE in terms of market capitalisation during the 2005-2012 period. Testing of hypotheses has been conducted by applying multivariate regression techniques using longitudinal data analysis of companies’ annual reports. Findings - Results which confirmed earlier estimations indicated that there are positive and significant relationships between CSR disclosure (CSRD) and INSV. This result indicates that among the CSRD dimensions, INSVs are less concerned with companies engaging in community contribution practices and those related to the community involvement and product dimension in which the company operates. Practical implications - Jordanian PLCs should be encouraged to be involved in CSR activities as one of their program strategies in attracting investment, as well as to improve their reputation and image in their social activities. Originality/value - This paper conducts a comprehensive empirical evidence on the development of the relationship between the CSRD dimensions and INSV in Jordanian PLCs as an emerging market, where much existing evidence exists on this issue that may help in explaining difference in prior work.

Keywords: Disclosure; Corporate social responsibility; Institutional investor; Private ownership; Jordan (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:eme:imefmp:imefm-10-2017-0272

DOI: 10.1108/IMEFM-10-2017-0272

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