 How does institutional cross‐ownership affect firm productivity? The importance of the corporate social responsibility channelHamza Nizar, Taher Hamza and Faten Lakhal International Journal of Finance & Economics, 2024, vol. 29, issue 2, 1988-2010 Abstract: This paper investigates the effect of institutional cross‐ownership on firm productivity and whether this effect occurs indirectly through corporate social responsibility. Based on a sample of French firms from the 2001–2015 period, we found that institutional cross‐ownership, particularly pressure insensitive cross‐ownership, positively affects firm productivity. This result suggests that the professional knowledge and monitoring experience gained by institutional cross‐owners lead them to increase firm productivity. This positive effect is less pronounced in highly competitive product markets. The results also showed that corporate social responsibility is a channel that allows institutional cross‐owners, particularly pressure insensitive cross‐owners, to influence firm productivity. This result suggests that institutional cross‐owners drive corporate social responsibility investments leading to enhanced firm productivity. Date: 2024 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wly:ijfiec:v:29:y:2024:i:2:p:1988-2010 Ordering information: This journal article can be ordered from Access Statistics for this article International Journal of Finance & Economics is currently edited by Mark P. Taylor, Keith Cuthbertson and Michael P. Dooley More articles in International Journal of Finance & Economics from John Wiley & Sons, Ltd. |
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