股权集中度对企业资源配置对员工关系、外部社会行动和环境行动的影响

IF 0.7 4区 管理学 Q4 BUSINESS
V. Crisóstomo, Fátima de Souza Freire
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引用次数: 25

摘要

目标-这项工作的目的是检查股权集中度对巴西企业社会责任分配资金的影响。设计/方法/方法-计量经济学模型已被估计,以企业社会责任指数为因变量,所有权集中度为解释变量,以及文献中建议的相关控制变量(盈利能力,杠杆率,增长机会和公司规模)。巴西企业社会责任数据库使用从两个不同来源提取的数据建立,一个与企业社会责任数据有关,另一个提供所有权结构和财务数据。企业社会责任政策由一个指数来代表,该指数是指用于社会行动(员工关系、外部社会行动和环境行动)的资金与净销售额之间的比率。研究结果-研究结果表明,巴西企业社会责任受到公司股权集中度的积极影响。实际意义-所有权集中度对企业社会责任的积极影响可能表明,巴西公司的大控股股东可能将企业社会责任视为改善公司及其所有者形象和声誉的有效途径。这种信念可能刺激了巴西的企业社会责任项目及其披露。原创性/价值——这项工作是对所有权结构在企业社会责任中所起作用的争论的额外贡献。考虑到利益相关者理论的中心点是企业对所有利益相关者的关注,本研究在利益相关者理论和代理理论的基础上,通过评估大控股股东对企业社会关注的影响。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The Influence of Ownership Concentration on Firm Resource Allocations to Employee Relations, External Social Actions, and Environmental Action
Objective – The purpose of this work is to examine the influence of ownership concentration on the funds allocated to CSR in Brazilian firm. Design/methodology/approach – Econometric models have been estimated, with an index of CSR as the dependent variable, and ownership concentration as the explanatory variable, together with relevant control variables suggested in the literature (profitability, leverage, growth opportunities, and firm size). A Brazilian CSR database has been built using data extracted from two different sources, one relative to CSR data and another that provides ownership structure and financial data. CSR policy is proxied by an index obtained as the ratio between funds directed to social action (employee relations, external social actions, and environmental action) and net sales. Findings – The findings indicate that CSR is positively influenced by firm ownership concentration in Brazil. Practical implications – The positive influence of ownership concentration on CSR may be an indication that large controlling shareholders of Brazilian firm may be considering CSR as an effective way to improve the image and reputation of the firm and its owners. This belief may be stimulating CSR projects and their disclosure in Brazil. Originality/value – This work is an additional contribution to the debate about the role played by ownership structure on CSR. Taking into account that the central point of Stakeholder Theory is a firm’s concern with all its stakeholders, the research builds on Stakeholder and Agency Theories by assessing the influence of large controlling shareholders on a firm’s social concerns.
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来源期刊
CiteScore
2.10
自引率
9.10%
发文量
16
审稿时长
50 weeks
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