Corporate social responsibility disclosure and market value: Family versus nonfamily firms |
| |
| Affiliation: | 1. University of Maine (GAINS-ARGUMANS), University of Maine Avenue Olivier Messiaen, 72085 Le Mans, France;2. ICD International Business School, 12 rue Alexandre Parodi, 75010 Paris, France;3. Emlyon Business School, Campus Casablanca, La Marina Tour Cristal 1, Casablanca, Morocco;4. HEC Montréal, 3000, chemin de la Côte-Sainte-Catherine, Montréal, Québec H3T 2A7, Canada;1. 181 Freedman Crescent, Asper School of Business, University of Manitoba, Winnipeg, Manitoba R3T 5V4, Canada;2. 56 PotashCorp, 25 Campus Drive, Edward School of Business, University of Saskatchewan, Saskatoon, Saskatchewan S7N 5A7, Canada;1. University of Maine (GAINS-ARGUMANS), Avenue Olivier Messiaen, 72085 Le Mans, France;2. ICD International Business School, 12 rue Alexandre Parodi, 75010 Paris, France;3. EMLYON Business School, Campus Casablanca, La Marina Tour Cristal 1, Casablanca, Morocco;4. University of Monastir, ISAMM, Avenue Tahar Hadded, 5100 Mahdia, Tunisia |
| |
| Abstract: | We investigate the moderating role of family involvement in the relationship between corporate social responsibility (CSR) reporting and firm market value using a longitudinal archival data set in the French context. Our empirical results show that family firms report less information on their CSR duties than do nonfamily firms. However, market-based financial performance, as measured by Tobin's q, is positively related to CSR disclosure for family firms and negatively related to CSR disclosure for nonfamily firms. Family firms would benefit greatly from communicating commitment to CSR; specifically, they could obtain shareholders' endorsement more easily than nonfamily firms could. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
