Emerald Publishing Limited eBooks, Год журнала: 2024, Номер unknown, С. 623 - 646

Опубликована: Апрель 17, 2024

Corporate social responsibility (CSR) promotes society, reduces risk, and encourages ethical business practices. Due to its relevance, we study how CSR influences firms' sustainable development. We analyze data from 427 New York Stock Exchange (NYSE)-listed firms 2008 2022. The Refinitiv environmental score is used measure CSR, whereas for development rely on corporate growth rate (SGR) market-based metrics. analysis employs various econometric techniques, including ordinary least square, fixed effect regression, two-stage generalized method of moment, simultaneous quantile regression. results indicate that has a positive significant across all models. This relationship supports the notion socially responsible can contribute long-term financial sustainability in line with "stakeholder theory", indicating companies should accommodate concerns stakeholders, society environment, achieve evaluate conditional distributions SGR value are affected by categorizing them into high, moderate, low regimes. regression estimates more pronounced at upper quantiles, followed moderate These findings underscore importance considering assessing enterprises market value. also confirm our robust under range different econometrics' methods. Finally, enlighten current literature, research useful policy implications management investors.

Язык: Английский