Contribution of CSR assurance quality to the market valuation of voluntary standalone reports: An investigation of the French context

Mehdi Nekhili (mehdi.nekhili@univ-lemans.fr), Amira Lajmi (amira.lajmi@univ-lemans.fr), Haithem Nagati and Gilles Paché
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Mehdi Nekhili: ARGUMans - Laboratoire de recherche en gestion Le Mans Université - UM - Le Mans Université
Amira Lajmi: ARGUMans - Laboratoire de recherche en gestion Le Mans Université - UM - Le Mans Université
Haithem Nagati: EM - EMLyon Business School
Gilles Paché: CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon

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Abstract: This paper investigates the moderating role of quality of assurance services, focusing on their scope, level of application, and the choice of a professional auditor as assurance provider. The study also explores the relationship between the issuance of a standalone corporate social responsibility (CSR) report and a firm's market value (as measured by Tobin's q). The econometric analysis is based on a matched sample of large French firms listed in the SBF 120 index between 2007 and 2017. The findings indicate that the relationship between the issuance of a standalone CSR report and Tobin's q is negative but becomes positive when firms use higher-quality assurance services.

Keywords: Corporate social responsibility (CSR); Assurance quality; Firm market value; Standalone CSR report; garantía de calidad de la RSE; valor de mercado de la empresa; informe específico de RSE; assurance qualité RSE; valeur de marché de l’entreprise; rapport RSE spécifique (search for similar items in EconPapers)
Date: 2023-01-18
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Published in Management international = International management = Gestión internacional, 2023, 26 (6), pp.73-99. ⟨10.7202/1095750ar⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04325681

DOI: 10.7202/1095750ar

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