Corporate social responsibility, industry concentration, and firm performance: Evidence from emerging Asian economies
Issued Date
2023-01-01
Resource Type
ISSN
02755319
Scopus ID
2-s2.0-85146042578
Journal Title
Research in International Business and Finance
Volume
64
Rights Holder(s)
SCOPUS
Bibliographic Citation
Research in International Business and Finance Vol.64 (2023)
Suggested Citation
Saeed A., Alnori F., Yaqoob G. Corporate social responsibility, industry concentration, and firm performance: Evidence from emerging Asian economies. Research in International Business and Finance Vol.64 (2023). doi:10.1016/j.ribaf.2022.101864 Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/81699
Title
Corporate social responsibility, industry concentration, and firm performance: Evidence from emerging Asian economies
Other Contributor(s)
Abstract
Social and environmental performance are two pillars of corporate social responsibility that integrate the desires of firms to enhance their competitive advantages and demonstrate their commitment to society. Based on a sample of eight emerging Asian markets, this study investigates the role of firms’ social and environmental performance in their financial performance, and how this may vary under different levels of industry competition. The results show that the social dimension is more effective in increasing firm performance relative to the environmental dimension. Further, the performance of socially oriented firms is more stable in highly competitive industries relative to environmentally oriented firms. Overall, this study supports the view that socially responsible firms have a competitive edge over their rivals that leads to higher profitability.