Corporate Social Responsibility and Financial Performance: The Moderating Role of Ownership Concentration in Turkey
Year: 2019
Type: article
Abstract: The objective of this study is to investigate the impact of corporate social responsibility (CSR) engagement on firm financial performance in a developing country, Turkey, and to analyze the moderating role of ownership concentration in the CSR–financial performance relationship. The sample consists of non-financial public firms listed on the Borsa Istanbul (BIST)-100 index and covers the period between 2014 and 2018. Empirical results using an instrumental variable approach show that corporate social responsibility has a positive relationship with financial performance. Furthermore, findings indicate that this relationship is negatively moderated by ownership concentration even when endogeneity is controlled for.
Source: Sustainability
DOI: 10.3390/su11133643
Author: Elif Akben-Selcuk
Institution: Kadir Has University
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $1,722
OpenAlex ID: W2953685899