新兴经济体跨国公司的机构所有权与公司社会绩效:来自印度的证据

Q3 Business, Management and Accounting

Indian Journal of Corporate Governance Pub Date : 2020-12-01 DOI:10.1177/0974686220966812

S. Yadav

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引用次数: 8

摘要

本研究通过考虑机构所有权对企业社会绩效各个维度的异质性影响，填补了文献中的空白。从行为风险机构的角度来看，我们认为不同机构所有者对CSP的风险行为并不相同。我们在2013-2018年期间对61家印度跨国公司进行了平衡面板抽样，以检验所提出的假设。结果显示，压力敏感型机构投资者的所有权与CSP的社会和治理维度呈负相关。共同基金所有权与CSP的社会和治理层面呈正相关。外国机构投资者所有权对CSP没有显著影响。我们发现CSP的环境维度被机构所有者忽视了。研究了企业国际化对机构所有权与CSP关系的调节作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Institutional Ownership and Corporate Social Performance in Emerging Economies Multinationals: Evidence from India

This study fills the gap in the literature by considering the heterogeneous impact of institutional ownership on various dimensions of corporate social performance (CSP). Using the behavioural risk agency perspective, we argue that the risk behaviour of various institutional owners is not the same towards the CSP. We have taken a balanced panel sample of 61 Indian multinational firms for the span of 2013–2018 to test the proposed hypotheses. Results show a negative association of pressure-sensitive institutional investors’ ownership with social and governance dimensions of CSP. Mutual funds ownership is positively associated with the social and governance dimensions of CSP. Foreign institutional investors ownership has no significant impact on CSP. We found that the environmental dimension of CSP is ignored by institutional owners. The moderating effect of firm internationalisation on the relationship between institutional ownership and CSP is also examined.

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来源期刊

Indian Journal of Corporate Governance Business, Management and Accounting-Business and International Management

CiteScore

2.00

自引率

0.00%

发文量

期刊介绍： Indian Journal of Corporate Governance is a bi-annual refereed journal that provides a forum for discussions and exchanging views on a wide range of corporate governance issues ranging from board practices, independent directors, whistle blower policies and shareholder activism on one hand to media’s role in corporate governance, corporate social responsibility and sustainability reporting on the other. It comprises of research articles, concept papers, case studies and reports providing a blend of theory and practices of corporate governance globally to cater to the interests of practitioners, academics, researchers and policy makers.