Title

Corporate Social Performance, Financial Performance And Institutional Ownership In Canadian Firms

Keywords

Corporate social performance; Financial performance; Institutional ownership

Abstract

This study examines the relationship of corporate social performance (CSP) to financial performance (FP) and institutional ownership. We perform our empirical analyses on a large-sample of publicly held Canadian firms and use a novel independent measure of CSP. Based on tests utilizing four years of panel data, we found no significant relationship between a composite measure of firms' CSP and FP. However, we found significant relationships between individual measures of firms' CSP regarding environmental and international activities and FP. Our findings indicate a significant relationship between firms' composite CSP measure and the number of institutions investing in firms' stock. In addition, we found significant relationships between firms' CSP ratings regarding their international activities and product quality and the number of institutions investing in firms' stock. These findings, while subject to the limitations inherent in the use of specific CSP measures, provide mixed support for the business case for CSP. © 2007 Elsevier Ltd. All rights reserved.

Publication Date

9-1-2007

Publication Title

Accounting Forum

Volume

31

Issue

3

Number of Pages

233-253

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.1016/j.accfor.2007.05.001

Socpus ID

34547613218 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/34547613218

This document is currently not available here.

Share

COinS