Unveiling the Effectiveness of Agency Cost and Firms' Size as Moderators Between CSR Disclosure and Firms' Growth
| Autor: | Jasim Tariq, Yingkai Tang, Aswad Akram |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Leverage (finance)
media_common.quotation_subject Agency cost lcsh:BF1-990 Accounting 050105 experimental psychology 03 medical and health sciences 0302 clinical medicine firm growth Excellence Pakistani companies Psychology 0501 psychology and cognitive sciences General Psychology media_common Original Research corporate social responsibility business.industry Corporate governance 05 social sciences firm size lcsh:Psychology Corporate social responsibility business 030217 neurology & neurosurgery agency cost |
| Zdroj: | Frontiers in Psychology Frontiers in Psychology, Vol 11 (2020) |
| ISSN: | 1664-1078 |
| Popis: | The excellence of corporate governance in companies lies in their ability to adopt the corporate social responsibility (CSR), which enhances their growth. This study examines the effect of agency cost, firm size, and CSR disclosure on the firms' growth. Specifically, the study analyzed the agency cost and firms' size as the moderators that influence the firms' performance asymmetrically. In its approach, the study compiled data of 300 Pakistani listed companies, which have a significant concern with CSR for the period 2010-2018. Using the 2SLS and GMM instrumental panel regressions, our empirical results show that the agency cost is detrimental to the firms' growth. In contrast, the firms' size boosts the firms' growth. Moreover, the growth of firms with leverage declines and the presence of independent directors improves the firms' growth. |
| Databáze: | OpenAIRE |
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