The Effect of Corporate Social Performance on Financial Performance: The Moderating Effect of Ownership Concentration

Chih Wei Peng, Mei Ling Yang

Research output: Contribution to journalArticle

24 Citations (Scopus)

Abstract

The purpose of this study is to extend prior research on this topic by investigating whether the impact of ownership concentration moderates the link between corporate social performance (CSP) and financial performance (FP). This study uses a set of unique, hand-collected pollution control data to measure CSP, based on a sample of Taiwanese listed companies during the period from 1996 to 2006. The results of the empirical analysis provide firm support for the idea that the divergence between control rights and the cash flow rights of controlling owners negatively moderates the link between social and short- and long-run FP.

Original languageEnglish
Pages (from-to)171-182
Number of pages12
JournalJournal of Business Ethics
Volume123
Issue number1
DOIs
Publication statusPublished - 2014 Aug 1

Fingerprint

performance
divergence
firm
Ownership concentration
Corporate social performance
Financial performance
Moderating effect
Ownership
Owners
Empirical analysis
Cash flow rights
Control rights
Pollution control
Listed companies
Divergence
Short-run
Taiwanese
Pollution

All Science Journal Classification (ASJC) codes

  • Business and International Management
  • Business, Management and Accounting(all)
  • Arts and Humanities (miscellaneous)
  • Economics and Econometrics
  • Law

Cite this

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The Effect of Corporate Social Performance on Financial Performance : The Moderating Effect of Ownership Concentration. / Peng, Chih Wei; Yang, Mei Ling.

In: Journal of Business Ethics, Vol. 123, No. 1, 01.08.2014, p. 171-182.

Research output: Contribution to journalArticle

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