The Impact of Corporate Social Responsibility on Financial Performance, and the Moderating Influence of CEO Gender

Jingyuan Hu (), Michail I. Fygkioris (), Konstantinos A. Athanasiadis () and Dimitrios N. Koufopoulos ()
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Jingyuan Hu: University of Glasgow
Michail I. Fygkioris: University of Macedonia
Konstantinos A. Athanasiadis: Global MBA, University of London
Dimitrios N. Koufopoulos: Global MBA, University of London

Chapter Chapter 10 in Business in a Turbulent Era, Volume II, 2025, pp 235-260 from Palgrave Macmillan

Abstract: Abstract This study selects S&P 500 companies from 2010 to 2018 as a sample through Bloomberg's database. It empirically analyses the correlation between CSR and CFP and the moderating effect of CEO's gender using the regression and moderating effect models. This study adopts the ESG disclosure score to measure CSR and CFP indicators from accounting and market perspectives. The results indicate that it is vital for S&P 500 firms to be socially responsible, and the CEO gender has a moderating effect between CSR and CFP. Specifically, both perspectives of ESG disclosure scores and CFP show significant positive correlations, suggesting that the CSR of S&P 500 firms again has a significant positive impact on CFP. In addition, the moderating effect of CEO gender shows a significant negative correlation. It demonstrates that female CEOs are inhibitory in studying the relationship between CSR and CFP.

Keywords: Corporate Social Responsibility (CSR); Globalisation; Information technology; Shareholders; Corporate Financial Performance; Environmental; Social; and Corporate Governance; Development process; Stakeholder theory; Responsibility; Responsible investment (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pscchp:978-3-031-89806-8_10

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DOI: 10.1007/978-3-031-89806-8_10

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