Factors Affecting CSR Disclosure by Takaful Insurance Companies During the Pandemic Crisis

Sameh Hachicha (), Samah Abu-Alhayja and Wael Hemrit
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Sameh Hachicha: College of Business, Imam Mohammad Ibn Saud Islamic University, Riyadh P.O. Box 5701, Saudi Arabia
Samah Abu-Alhayja: Independent Researcher, Irbid 21141, Jordan
Wael Hemrit: College of Business, Imam Mohammad Ibn Saud Islamic University, Riyadh P.O. Box 5701, Saudi Arabia

JRFM, 2025, vol. 18, issue 5, 1-18

Abstract: This study explores the key factors driving corporate social responsibility disclosure (CSR_DISC) by Takaful insurance companies (TKIs) in Saudi Arabia during and after the COVID-19 pandemic. We use content analysis and follow an unweighted scoring method to score the CSR_DISC index. Based on a sample of 26 Saudi-listed TKIs, for the period 2020–2024, we employ Poisson panel and negative binomial panel models to examine the interdependent relationships between CSR_DISCs and a set of corporate governance factors. We find that Saudi TKIs increased their CSR_DISCs in their financial reporting during and after the COVID-19 crisis. These findings confirm that board and firm size have a significant and negative effect on corporate CSR_DISC. However, the number of independent board members and female directors positively affect the extent of CSR_DISCs. Finally, the size of the audit committee and the Shariah supervisory board, frequency of board meetings, and profitability do not affect CSR_DISCs.

Keywords: corporate governance; content analysis; CSR_DISC; COVID-19; TKI (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2025
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