Relationship between corporate social responsibility and performance: The moderating effect of financial leverage
Keywords:
Corporate Social Responsibility, Factorial interaction model, Financial leverage, Financial PerformanceAbstract
As an extension of theoretical work from several socio-political approaches, such as stakeholder theory and agency theory, the purpose of this study is to examine the nonlinear effects of corporate social responsibility (CSR) on firms’financial performance and identify the degree of financial leverage as a channel through which CSR exerts its influence on firm financial performance. The present research was carried out in France, where the legislation on sustainable development reports is significant. Using a sample of 70 French firms listed on the SBF 120 index, a factorial interaction model is estimated for the period 2005-2014. We find that the relationship between CSR and firms’ financial performance is non linear, exhibiting an inverted U-shaped pattern. In particular, our results reveal that the CSR financial performance relationship is moderated by firms-specific factors, namely financial leverage. Our study demonstrates also the important of the evolution in the dynamic behavior of CSR effect on the financial performance firms.
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Azizah, M., & Aswad, M. (2022). Pengaruh Belanja Online Pada E-Commerce Shopee Terhadap Perilaku Konsumtif Generasi Millennial di Blitar. J-CEKI, 1(4).
Banowati, A. I., & Ahmad, A. (2022). Pengaruh Harga, Promosi dan Kepercayaan Terhadap Keputusan Pembelian Online Shopee di Bandar Lampung. Jurnal Ekonomi dan Bisnis, 11(2).
Dulay, F. A. D., Liban, R. P., Rustia, J. R. G., Tayag, M. M. R., & Castaño, C. (2022). Generation Y and Z Filipino Consumers’ Purchasing Behavior on Electronic Products in Shopee and Lazada. Journal of Business and Management Studies, 4(1), 294–305.
Gu, S., Ã…Å¡lusarczyk, B., Hajizada, S., Kovalyova, I., & Sakhbieva, A. (2021). Impact of the COVID-19 Pandemic on Online Consumer Purchasing Behavior. MDPI, 16(20).
Gultom, F. A., Kadir, R., & Baumassepe, A. N. (2022). The Influence of Security Perception, Ease of Use on Buying Interest Through Trust as an Intervening Variable (Case Study of E-Commerce Lazada in Makassar City). GSJ, 10(1).
Haliza, S. N., & Habib, M. A. F. (2022). Analisis Perilaku Konsumerisme Masyarakat Pada Diskon Belanja Online Pengguna E-Commerce Shopee. Jurnal Sosiologi Dialektika Sosial, 8(2).
Hidayatuloh, S., & Aziati, Y. (2020). Analisis Pengaruh User Experience Terhadap Kepuasan Pengguna Mobile Application E-Commerce Shopee Menggunakan Model Delone & Mclean. TEKINFO, 21(1).
Indrawati, P. (2022). Perilaku Konsumen Generasi Z dalam Pembelian Fashion Muslim pada Marketplace Indonesia. Jurnal Iqtisad, 9(2).
Lim, K. B., Sook Fern, Y., & A/l Bhajan Singh, H. S. K. (2021). The Study of Customer Satisfaction of Shopee Customers In Malaysia. International Journal of Entrepreneurship, Business and Creative Economy, 1(2), 30–44. https://doi.org/10.31098/ijebce.v1i2.602
Mantikei, B. (2020). The Dark Side of Online Consumer Behavior in Indonesia. PJAEE, 17(7).
Manucom, M. G. C., Alcaraz, K. P., Alejo, R. P. S., Gaddi, K. C. M., Recio, K. E. P., & Yamaguchi, R. G. (2023). Awareness of Generation Z Students about The Plaf (Plastic Flamingo) and Other Campaigns Concerning Plastics in Online Shopping. International Journal of Environment, Engineering and Education, 5(1), 9–18. https://doi.org/10.55151/ijeedu.v5i1.78
Nguyen, D. T. N. (2022). The Influence of the Generation Z’s Perception and Psychological Ownership on Repurchase Intention of E-Shopping: Evidence from Vietnam. Journal of Eastern European and Central Asian Research, 9(2).
Pratiwi, A. M. P., Pangiuk, A., & Ismail, M. (2023). Pengaruh Jual Beli Online E-Commerce Shopee Terhadap Minat Beli Saat Pandemi Covid-19 Pada Masyarakat Milenial di Kecamatan Belitang. JMCBUS, 1(2).
Purwa, N. D., Suksmawati, H., & Timur, J. (2022). Persepsi Generasi Milenial Terhadap Hari Belanja Online Nasional Pada E-Commerce Shopee. Expose: Jurnal Ilmu Komunikasi, 5(1).
Ramadhan, M., & Danibrata, A. (2022). Elemen-Elemen yang Terkait dengan Customer Satisfaction. E Jurnal Manajemen TSM, 2(2).
Salma, R., & Wibawa, B. M. (2021). Investigasi Strategi Positioning Merek: Studi Kasus Industri E-commerce di Indonesia. Jurnal Sains dan Seni, 10(1).
Sudirjo, F., & Lotte, L. N. A. (2023). The Influence of Generation Z Consumer Behavior on Purchase Motivation in E-Commerce Shoppe. Jurnal Manajemen, 2(2).
Tumanggor, S., Hadi, P., & Sembiring, R. (2021). Pembelian impulsif pada e-commerce shopee (studi pada konsumen shopee di Jakarta Selatan). Journal of Business and Banking, 11(2).
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Zahroq, E. L., & Asiyah, B. N. (2022). Analisis Penentu Keputusan Pembelian dan Implikasinya Terhadap Minat Beli Ulang pada Pengguna Shopee Generasi-Z. Juremi: Jurnal Riset Ekonomi, 2(1).
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Published
2023-10-20
How to Cite
Sahraoui, W., & Kaboré, R. E. (2023). Relationship between corporate social responsibility and performance: The moderating effect of financial leverage. Journal of Management Science (JMAS), 6(4), 605–614. Retrieved from https://exsys.iocspublisher.org/index.php/JMAS/article/view/311
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