Does corporate social responsibility reporting enhance shareholders’ value?

Afzalur Rashid

Journal of Financial Reporting and Accounting, 2018, vol. 16, issue 1, 158-178

Abstract: Purpose - This study aims to examine whether corporate social responsibility (CSR) and relevant reporting enhances firms’ economic performance among the listed firms in Bangladesh. Design/methodology/approach - This study uses a content analysis to examine specific CSR-related attributes from 115 non-financial publicly listed firms in Bangladesh. Firm CSR reporting is evaluated against accounting and market performance measures, with a simultaneous equation approach used to control the potential endogeneity problem. Findings - This study finds that CSR reporting significantly influences firm performance under both performance measures, although a firm’s economic performance does not influence CSR reporting. Research limitations/implications - This study is subject to some limitations, such as the subjectivity or judgement associated in the coding process. Practical implications - The findings imply that although CSR reporting by firms in Bangladesh is discretionary in nature, the ones that report add value to their firm. Originality/value - This study contributes to the literature on the practices of CSR reporting in the context of the developing countries.

Keywords: Performance; CSR; Stakeholder theory; Content analysis; Legitimacy theory; Instrumental stakeholder theory (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrapp:jfra-10-2016-0084

DOI: 10.1108/JFRA-10-2016-0084

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