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The moderating role of board characteristics in the impact of corporate social responsibility on the financial performance of Dutch listed firms

Kruders, Bart (2018) The moderating role of board characteristics in the impact of corporate social responsibility on the financial performance of Dutch listed firms.

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Abstract:Firms invest high amounts of money in corporate social responsibility (CSR) activities. Previous research found evidence that the implementation of CSR benefits a firm, although it is not guaranteed that CSR investments lead to improved financial performance. Overall agreement misses in the studies concerning the CSR and financial performance impact. This study contributes by investigating the role of CSR on financial performance for a sample of 81 Dutch listed firms during 2014-2017. Secondly the study investigates if board characteristics moderate the impact of CSR on financial performance. An ordinary least squares (OLS) regression is performed to investigate the impact. The results show that the impact of CSR is significantly positive for ROA, but insignificant for ROE, Tobin’s Q and RET. Thus, the results indicate that firms who more intensively engage in CSR activities have improved ROA. In addition, evidence is found that board size, gender diversity and age diversity weaken the impact of CSR on ROA. No significant impact is found for board independence.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics
Programme:Business Administration MSc (60644)
Link to this item:https://purl.utwente.nl/essays/77004
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