Corporate social responsibility disclosure and its relation on institutional ownership

Mustaruddin Saleh, Norhayah Zulkifli and Rusnah Muhamad

Managerial Auditing Journal, 2010, vol. 25, issue 6, 591-613

Abstract: Purpose - The aim of this paper is to explore corporate social responsibility (CSR) disclosure and its relation to institutional ownership (IO) of Malaysian public listed companies (PLCs). Design/methodology/approach - Testing of hypotheses have been conducted by applying multivariate regression techniques utilizing longitudinal data analysis of companies' annual reports. Two well‐established models, the fixed effects model and random effects model are conducted in this paper. Findings - Results which confirmed earlier estimations indicated that there are positive and significant relationships between CSR disclosure (CSRD) and IO. This result suggests that Malaysian PLCs are able to attract and maintain their institutional investors while they engage in social activities. Practical implications - Companies should be encouraged to be involved in CSR activities as one of their strategies in attracting investment as well as to improve their reputation and image. Originality/value - Most studies on CSRD in Malaysia pertain to the analysis of such reporting and motivations of managers towards CSRD. This paper conducts a comprehensive empirical research on the relationship between CSRD and IO in Malaysian PLCs.

Keywords: Corporate social responsibility; Disclosure; Public ownership; Malaysia; Stock exchanges (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eme:majpps:02686901011054881

DOI: 10.1108/02686901011054881

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