CSR committee and firm value during the COVID-19 pandemic
Hsu, Yu-Lin and Chu, Ya-Ching (2023) CSR committee and firm value during the COVID-19 pandemic. Economics and Business Letters, 12 (2). pp. 137-146. ISSN 2254-4380 (https://doi.org/10.17811/ebl.12.2.2023.137-146)
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Abstract
This paper investigates whether the presence of CSR committees has a mitigating effect on firm value (measured by Tobin's Q) during the COVID-19 pandemic. Analyzing UK listed firm data, we find that although the pandemic results in lower firm value, the presence of CSR committees helps to mitigate the negative impact of COVID-19 on firm value. The results suggest that the formation of CSR committees is not a symbolic impression management tool but an effective sustainability governance mechanism during the crisis. Our results should be helpful for regulators and companies in making decisions related to CSR committees.
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Item type: Article ID code: 86170 Dates: DateEventJune 2023Published10 March 2023AcceptedSubjects: Social Sciences > Commerce > Accounting Department: Strathclyde Business School > Accounting and Finance Depositing user: Pure Administrator Date deposited: 18 Jul 2023 15:08 Last modified: 27 Nov 2024 01:23 URI: https://strathprints.strath.ac.uk/id/eprint/86170