Institutional Reforms and Investor Reactions to CSR Announcements: Evidence from an Emerging Economy

By Bindu Arya, Gaiyan Zhang. 2009

241 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/ba5fb4fd4b8b1ba27138c9277654505d132d16f7

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Citations in the corpus

Corporate social responsibility and firm performance: The mediating role of marketing competence and the moderating role of market environment (2015, background): “Meanwhile, prior literature has suggested that institutional context and culture play a critical role in determining the CSR practices a company chooses to focus on (Arya & Zhang, 2009; Baughn, Bodie, & McIntosh, 2007).”
Corporate Social Responsibility in Developing Countries as an Emerging Field of Study (2018, unknown): “…political legitimacy (Idemudia 2007) Leader altruism (Jamali and Mirshak 2007; Sanchez 2000) Innovation (Vilkė 2014) Financial: influenced stock prices (Arya and Zhang 2009), market valuation (Cheung et al. 2010), return on equity, return on assets, net profit margin, sales growth, debt…”
Bringing Africa In: Promising Directions for Management Research (2016, background): “…corruption in the host country (Luiz & Stewart, 2014), either through positive political engagement (Luo & Junkunc, 2008) or by using institutional reforms to their advantage, such as adopting corporate social responsibility (CSR) practices to improve stakeholder relationships (Arya & Zhang, 2009).”
What We Know and Don’t Know About Corporate Social Responsibility (2012, background): “Moderators in the place category include variables such as the particular community (e.g., Buehler & Shetty, 1974), the country where the firm is located (e.g., Arya & Zhang, 2009), and the extent of international diversification (e.g., Strike, Gao, & Bansal, 2006).”
Financial resource availability and corporate social responsibility expenditures in a sub‐Saharan economy: The institutional difference hypothesis (2013, background): “Furthermore, our approach is consistent with other CSR scholars addressing Africa who assessed the monetary value of CSR initiatives (Arya and Zhang, 2009).”
A Review of the Nonmarket Strategy Literature (2016, unknown): “Moreover, stakeholder influence capacity—a firm’s ability “to identify, act on, and profit from opportunities to improve stakeholder relationships” (Barnett, 2007: 803)—and the degree of institutional stability (Arya & Zhang, 2009) were identified as important moderators.”
Motives and Performance Outcomes of Sustainable Supply Chain Management Practices: A Multi-theoretical Perspective (2017, background): “In contrast, an increasing number of studies have found environmental responsiveness to be positively related to firm performance, because green supply-chain practices can help boost employee morale, enhance customer goodwill, and improve relationships with stakeholders like (1) government agencies ”
Strategic CSR: A Concept Building Meta‐Analysis (2019, unknown): “Indeed, share prices often increase after the public announcement of CSR initiatives (Arya and Zhang, 2009; Ramchander et al., 2012).”
How Corporate Social Responsibility Engagement Strategy Moderates the CSR–Financial Performance Relationship (2012, unknown): “…Studies © 2012 Blackwell Publishing Ltd and Society for the Advancement of Management Studies direction of the CSR–CFP link is subject to the complementary resources and capabilities of the specific firm (Arya and Zhang, 2009; Christmann, 2000; Darnall and Edwards, 2006; Darnall et al., 2008).”
Corporate social responsibility and bank risk (2019, unknown): “Aside from customers, investors prefer companies with a good reputation as well (Arya and Zhang (2009), Vishwanathan et al. (2019)).”
Sensitive industries produce better ESG performance: Evidence from emerging markets (2017, background): “Other authors (for instance, Arya and Zhang, 2009; Child, 2005) agree with the argument that business organizations operating in different nations are embedded in distinct institutional environments experiencing different degrees of coercive pressures to engage in CSR activities.”
Dispositional Sources of Managerial Discretion: CEO Ideology, CEO Personality, and Firm Strategies (2018, background): “…CEO’s ability to exercise influence can be explained by the reality that CSR activities are increasingly perceived positively by firms’ constituents (Arya and Zhang, 2009), whereas downsizing is an emotionally charged issue that can be demoralizing and stressful for both downsized and retained…”