Corporate Social Responsibility, Risk Factor and Financial Performance of Listed Firms in Ghana

John Gartchie Gatsi, Comfort Ama Akorfa Anipa, Samuel Gameli Gadzo and Joseph Ameyibor

Journal of Applied Finance & Banking, 2016, vol. 6, issue 2, 2

Abstract: Corporate managers over the years have been confronted with the task of making decisions relating to financing, investment, dividend policy and social responsibility expenditure on behalf of their shareholders. However, decision about corporate social responsibility and its relationship with performance of firms has been a subject of unending debate among scholars. This study therefore provides evidence using companies listed on the Ghana Stock Exchange. The empirical results from the panel random effect regression suggested that the level of CSR disclosed has, a significant negative relationship with firm performance while firm risk, measured by asset-to-equity, significantly and positively relates to firm performance. The link between growth and firm performance on one hand, and size and firm performance on the other revealed positive and negative but insignificant relationships respectively.

Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://www.scienpress.com/Upload/JAFB%2fVol%206_2_2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spt:apfiba:v:6:y:2016:i:2:f:6_2_2

Access Statistics for this article

More articles in Journal of Applied Finance & Banking from SCIENPRESS Ltd
Bibliographic data for series maintained by Eleftherios Spyromitros-Xioufis ().