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8. How employee corporate social responsibility participation promotes pro-environmental behavior.

Author

Min, Yan Ai, Hao, Ma, Yang, Xiao, Ling, Deng Yu, Yuan, Jiang Si, Javeed, Sohail Ahmad, and Yin, Shimin

Subjects
GREEN behavior, SOCIAL responsibility of business, SOCIAL participation, PSYCHOLOGICAL ownership, EMPLOYEE ownership
Abstract

Introduction: Urban resilience is suffering from the challenges of climate change. The increasing volatility of climate change and its impact on urban resilience necessitates a deeper understanding of how internal organizational behaviors can contribute toward sustainable city development. Pro-environmental behavior is one of the important methods of affecting climate change and enhancing urban resilience. This study investigates how employee participation in corporate social responsibility activities promotes pro-environmental behavior and its mechanism. Methods: This research was conducted an online survey of 262 employees from 22 industries in mainland China. To mitigate the bias arising from self-reported assessments by the employees, the data were collected at two time points. Results: Empirical research reveals that employee participation in corporate social responsibility is positively related to employee pro-environmental behavior; these empirical findings not only support how psychological ownership mediates the link between corporate social responsibility participation and pro-environmental behavior but also indicate how employee engagement acts as an intermediary mechanism in enhancing this positive association. Moreover, the chain mediation effect of psychological ownership and employee engagement in the positive link between corporate social responsibility participation and pro-environmental behavior is found to be significant. Discussion: These findings not only enrich the effects of the mechanism of corporate social responsibility participation on employee behavior by introducing new theoretical perspectives but also deepen understanding of the antecedents promoting employee pro-environmental behavior, thereby contributing to the improvement of urban resilience in the face of climate change. [ABSTRACT FROM AUTHOR]

Published
2024
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9. The impact of housing prices and land financing on economic growth: Evidence from Chinese 277 cities at the prefecture level and above.

Author

Sun, Qian, Javeed, Sohail Ahmad, Tang, Yong, and Feng, Yan

Subjects
*HOME prices, *CITIES & towns, *ECONOMIC expansion, *REAL property sales & prices, *HOUSING market
Abstract

With the rapid progress of urbanization in China, the real estate industry, characterized by a long industrial chain, has become a pillar industry for economic development. Therefore, we inspect the nexus between land finance, housing prices, and economic growth. For this purpose, we use the panel data of 277 cities at the prefecture level or above in China from 2011 to 2019, and empirically examine it by using the Panel Vector Auto Regression (PVAR) model. The results show that there is a causal relationship between housing prices and economic growth. Housing prices promote economic growth in the short term and inhibit it in the long term. Both economic growth and housing prices have a significant impact on land finance. The economic growth show a significantly positive impact, while housing prices promote land finance in the short term with a long-term trend from positive to negative. This is the first study that tries to probe the relationship between urban housing prices, land finance, and economic growth by considering 277 prefecture-level and above cities in China. To promote the stable development of the regional economy, local governments need to overcome their dependence on the housing market and land finance and promote the healthy development of the housing market. [ABSTRACT FROM AUTHOR]

Published
2024
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10. Towards low‐carbon sustainable development under Industry 4.0: The influence of industrial intelligence on China's carbon mitigation.

Author

Tian, Hui, Qin, Jiaqi, Cheng, Chaoyin, Javeed, Sohail Ahmad, and Chu, Tiansi

Subjects
SUSTAINABLE development, INDUSTRY 4.0, CARBON nanofibers, FIXED effects model, CARBON emissions, TECHNOLOGICAL innovations, DEVELOPING countries
Abstract

Global climate change is becoming an increasingly serious issue. China, the largest carbon emitter, has a long way towards its sustainable development goals (SDGs) and take on its carbon reduction responsibility, especially in the industrial sector. In this vein, industrial intelligence, a key driver in the "Industry 4.0 era", offers an opportunity in this carbon reduction campaign. This paper seeks to examine the influences of industrial intelligence on carbon emissions, their heterogeneous characteristics and transmission mechanisms, and the moderating role of human capital. Therefore, we properly probed theoretical aspects, and then we used China's provincial data from 2006 to 2019 and a number of tests, namely the fixed effect model, the two‐stage test, and the moderating effect model, to test the relevant assumptions. We first unfolded that industrial intelligence can significantly mitigate carbon emissions. Specifically, the heterogeneous analysis found that carbon reduction efforts are more pronounced in China's central and western regions and resource‐based regions. We further highlight the mechanism identification, which reveals that industrial structure upgrading and technological innovation are the main channels for industrial intelligence to abate CO2 emissions. Importantly, we pinpoint the role of human capital, which positively moderates the relationship between industrial intelligence and carbon emissions and can well amplify the industrial structure effect of industrial intelligence. These results are conducive to accurately assessing the environmental benefits of industrial intelligence and providing policy enlightenment for China to alleviate carbon emissions, and they will also offer a reference for other developing countries to learn from. [ABSTRACT FROM AUTHOR]

Published
2024
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16. The Effects of Board Capital on Green Innovation to Improve Green Total Factor Productivity.

Author

Javeed, Sohail Ahmad, Latief, Rashid, and Akram, Umair

Abstract

The economy's improvement through industrial success is also leading to environmental problems such as the production of greenhouse gases and other chemicals. Since global warming has caught the attention of researchers and authorities, environmental issues are receiving more attention. In this vein, the pressure of sustainable development goals explains the status of corporate sustainable development. Particularly, corporate green practices including green innovation and green total factor productivity have become hot topics. Therefore, how green innovation can be beneficial to green total factor productivity is a major point of concern in this study. For that, corporate factors such as the role of board capital are a new light for developing green innovation. Moreover, this study also takes the competition factor into account for green innovation. This study considers agency theory and the Porter hypothesis as the theoretical base, and the results give distinctive conclusions by using fixed effects, generalized moments methods, and feasible generalized least squares on Chinese manufacturing corporations from 2011 to 2020. After a series of tests, we highlight the benefits of board capital, particularly human capital and social capital, that help to produce firm green innovation. Additionally, we explain that market competition compels corporations to make green innovations. Further, we importantly show that market competitiveness plays a critical role in fostering relationships between green innovation and board capital. It is crucial to note that by enhancing green innovation, the goal of green total factor production can be reached. These findings shed light on the imperative environmental concerns and can be a good example for authorities and governments. [ABSTRACT FROM AUTHOR]

Published
2023
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24. Why is reusable bag consumption easier to say than do?

Author

Dongqing Yan, Xiang Cai, Meiying Xie, Javeed, Sohail Ahmad, Fengqin Liu, and Qun Cao

Subjects
STRUCTURAL equation modeling, CONSUMER behavior, CONSUMER attitudes, CHINESE people, PLASTIC bags
Abstract

White pollution has become a global problem. China issued a strict plastic ban but fell into an awkward position. Despite the increasing environmental awareness, the positive attitude of consumers toward using reusable bags instead of plastic bags is difficult to reflect on from their behavior. This article bridges this gap by utilizing a consumer behavior framework based on the behavioral reasoning theory (BRT) and the attitude-behavior-context (ABC) model. This framework is tested using structural equation modeling with 481 Chinese consumers. This article confirms that the value has a significant impact on consumer attitudes. Meanwhile, the article reveals the positive influence of “reasons for” in predicting attitudes and the negative influence of “reasons against” in predicting intentions. Reusable bag consumption behavior is a result of multiple pathways working together, which causes the gap between attitudes and behaviors. This article also confirms the moderating role of the Chinese face and the enforcement of the plastic ban in influencing behavior. These findings offer interesting insights for enterprises and governments to solve the problem of plastic consumption. [ABSTRACT FROM AUTHOR]

Published
2022
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25. The relationship amid land finance and economic growth with the mediating role of housing prices in China.

Author

Qian Sun, Yan Feng, Yong Tang, Wen Kuang, and Javeed, Sohail Ahmad

Subjects
HOME prices, ECONOMIC expansion, LAND use, PRICE increases, ECONOMIC impact
Abstract

Taking cities at prefecture-level and above in China as the research object, we theoretically analyze the e􀀀ects of land finance on housing prices and economic growth as well as the e􀀀ects of housing prices on economic growth, consider themediating role of housing prices, and construct a random-e􀀀ects model of land finance a􀀀ecting economic growth. It is of great significance to make rational use of land finance to promote the economic development and formulate the "city specific policies" plan for the real estate market. The 278 resource-based cities with relatively well-developed land and real estate markets in China are selected to test the mediating e􀀀ect of housing prices on land finance a􀀀ecting economic growth in resource-based cities by type based on panel data from 2011-2019. The results show that (1) land finance significantly and positively a􀀀ects economic growth and housing prices in cities at the prefecture-level and above nationwide, but there is some variability in the degree of influence. The central region has the smallest impact on economic growth but the largest impact on housing prices; the eastern region has the deepest impact on economic growth; and the western region has the smallest impact on housing prices. (2) In the national sample cities and cities in the northeast region, housing prices have a significant partial mediating e􀀀ect at the 1% level on economic growth a􀀀ected by land finance, accounting for 22.03 and 2.84%, respectively. The mediating e􀀀ect of urban housing prices on land finance a􀀀ects economic growth in the eastern, central, and western regions is not significant. [ABSTRACT FROM AUTHOR]

Published
2022
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36. The economic effects of foreign direct investment at firm level: evidence from enterprises survey data.

Author

Latief, Rashid, Javeed, Sohail Ahmad, and Joyo, Ahmed Shafique

Subjects
FOREIGN investments, COBB-Douglas production function, BUSINESS enterprises, ECONOMETRIC models
Abstract

This article aims to analyse the effect of foreign direct investment (FDI), with a focus on foreign ownership of firms, on the growth of output in South Asian firms by using enterprises surveys data for different periods. Using the Cobb–Douglas production function, we employed the econometric model to analyse the relationship between the firm-level characteristics and the output of firms. Furthermore, we estimated the moving averages of FDI inflows and GDP and their trends over the periods. Empirical results demonstrated the significance of inputs, specifically the FDI, employment growth and labour productivity in the context of many selected countries. The moving average results showed that FDI and GDP in major South Asian countries have been reduced after global financial crises of 2008. It can be concluded that the FDI, employment growth and labour productivity are the major contributing factors to the growth of output in the South Asian countries. Thus, this study has insight for the foreign investors and policymakers for the South Asian region. [ABSTRACT FROM AUTHOR]

Published
2020
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38. The Association between Foreign Investment and Gross Domestic Product in Ten ASEAN Countries.

Author

Sijabat, Rosdiana

Subjects
FOREIGN investments, GROSS domestic product, ECONOMIC indicators, INVESTORS, LEAST squares
Abstract

Although empirical studies of the link between foreign direct investment, foreign portfolio investment, and economic development have long influenced economic studies, the results have been inconclusive. Focusing on ten countries, this study contributes to our understanding of foreign investment as a determinant of regional economic performance. More specifically, this study seeks to analyze the short- and long-term relationship between foreign direct investment, foreign portfolio investment, and Gross Domestic Product (GDP) in ten ASEAN member states using data from the 2009–2020 period. For this examination, this study employs a cross-sectional dependency test, followed by panel unit root and panel cointegration testing. From the results of this test, Dumitrescu–Hurlin Panel Causality (DHPC) analysis is conducted. These results show that FDI and GDP have a positive bilateral association, i.e., FDI positively affects GDP and GDP positively affects FDI, as presumed by the theory. Testing also finds bilateral causality between FPI and GDP in the ten analyzed nations. This study contributes to the literature by testing the association between FDI/FPI and GDP using fully modified least squares (FMOLS) and dynamic least squares (DMOLS) panel testing. These results show that FPI and FDI have significantly influenced GDP in ten ASEAN member states. Foreign investment has thus been shown to be the most potent means of accelerating economic development in the studied nations, and thus the governments of these ASEAN member states should formulate policies that attract foreign investors and better direct their investments. [ABSTRACT FROM AUTHOR]

Published
2023
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39. The Interplay of Leverage, Financing Constraints and Real Earnings Management: A Panel Data Approach.

Author

Hussain, Ammar, Akbar, Minhas, Khan, Muhmmad Kaleem, Sokolová, Marcela, and Akbar, Ahsan

Subjects
EARNINGS management, PANEL analysis, ACCOUNTING, EMERGING markets
Abstract

Organizations are formed to gain long-term benefits. However, sometimes myopic management for feigned value enhancement led to the early demise of the firm. Further, to the best of our knowledge empirical role of financing constraints has not yet been explored between the relationship of leverage and earnings management practices. Therefore, the present study aims to empirically examine the impact of leverage on Real Earnings Management (REM) practices and how financing constraints influence this association. Employs a panel dataset of 3250 non-financial Chinese listed firms for a time period spanning from 2009 to 2018. Leverage is categorized into short-term, long-term, and total leverage to check the individual effects of each leverage category on REM practices. The data were analyzed through panel data fixed-effects and random-effects techniques as an econometric approach. First, consistent with positive accounting theory, the impact of total leverage on REM is positive. Second, compared to the long-term leverage, short-term leverage has more pronounced effects on managers' opportunistic behavior towards using REM. Third, the influence of total leverage is higher (lower) on REM practices in financially unconstrained (constrained) firms. Fourth, the influence of short-term leverage on REM practices compared to long-term leverage is also weak in the financially constrained firms. These findings imply that, to avoid the consequences of managerial myopia, investors should abstain to invest in the firms that use higher amount of short-term debt and are financially unconstrained. This study is the first research to examine the impact of different leverage categories on REM practices in an emerging market, i.e., China, where the legal and financial structure is much poor. [ABSTRACT FROM AUTHOR]

Published
2022
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40. Roles of Female Executives in Corporate Governance Practices: Evidence From China

Author

Zhang Changzheng and Zhang Changzheng

Subjects
Corporate governance--China, Women executives--China
Abstract

In order to fill up the significant inadequacy of literature on the role of female executives'within Chinese enterprises, the book, for the first time, systematically investigates both the negative and positive consequences of female executives'participation in corporate governance under the background of China, with the theoretical purpose of identifying the roles of female executives in corporate governance practices, and the practical purpose of making full use of the positive effects of female executives'participation, while minimizing the potential negative consequences of female executives'participation. Specifically, the book respectively reveals the direct effects of female executives on financial performance, social responsibility performance, accounting conservatism, cash holdings and competitive strategy, and explores the indirect moderation effects of female executives on CEO power and staff turnover.

Published
2023

41. How does green innovation strategy influence corporate financing? corporate social responsibility and gender diversity play a moderating role

Abstract

Global warming is becoming more and more of a concern, leading authorities to take action. The industrial sector is a key contributor to environmental and social problems. Based on stakeholder theory and agency theory, this research proposes that green innovation strategies at the firm level can overcome the industry’s negative environmental impact. As a result, the focus of this research is on green innovation strategies for corporate financing. In addition, this research suggests that corporate social responsibility and gender diversity directly affect corporate financing and their interaction. This study used Chinese 301 manufacturing firms (3010 observations) for the period 2010–2019 for this purpose. This study looks into panel data issues in depth by using approaches such as the fixed effect and generalized method of moment. The feasible generalized least square was employed to increase robustness. Furthermore, green innovation strategies were used for corporate financing. Second, the study discovered that corporate social responsibility aided firm financing. Our findings also imply that corporate social responsibility helps to attenuate the association amid green innovative strategies and corporate financing. Finally, these findings revealed that gender diversity had a favorable effect on corporate financing. Furthermore, this study confirmed that the moderating role of gender diversity is beneficial to green innovative strategies and corporate financing. These findings add to the literature by providing policymakers and regulatory bodies with useful information for advancing sustainable development.

Published
2022

42. How does green innovation strategy influence corporate financing? corporate social responsibility and gender diversity play a moderating role

Abstract

Global warming is becoming more and more of a concern, leading authorities to take action. The industrial sector is a key contributor to environmental and social problems. Based on stakeholder theory and agency theory, this research proposes that green innovation strategies at the firm level can overcome the industry’s negative environmental impact. As a result, the focus of this research is on green innovation strategies for corporate financing. In addition, this research suggests that corporate social responsibility and gender diversity directly affect corporate financing and their interaction. This study used Chinese 301 manufacturing firms (3010 observations) for the period 2010–2019 for this purpose. This study looks into panel data issues in depth by using approaches such as the fixed effect and generalized method of moment. The feasible generalized least square was employed to increase robustness. Furthermore, green innovation strategies were used for corporate financing. Second, the study discovered that corporate social responsibility aided firm financing. Our findings also imply that corporate social responsibility helps to attenuate the association amid green innovative strategies and corporate financing. Finally, these findings revealed that gender diversity had a favorable effect on corporate financing. Furthermore, this study confirmed that the moderating role of gender diversity is beneficial to green innovative strategies and corporate financing. These findings add to the literature by providing policymakers and regulatory bodies with useful information for advancing sustainable development.

Published
2022

43. How environmental regulations and corporate social responsibility affect the firm innovation with the moderating role of Chief executive officer CEO power and ownership concentration

Abstract

At present, many economies are suffering from environmental problems that have significant effects on the climate and life of human beings, thus, the governments and institutions work to reduce the industrial negative effects on the environment. Based on the Porter Hypothesis, agency theory, and management and organization theory, this study examines the connection between environmental regulations, corporate social responsibility and firm innovation with the moderating role of CEO power and ownership concentration. Importantly, this study divided CEOs into male and female CEO. This study classifies firm innovation into two kinds, such as firm input innovation and firm output innovation. This study selects the sample of Pakistani manufacturing firms and uses the panel data for the period 2008 to 2018. For the analysis purpose, this study employs ordinary least squares (OLS), fixed-effect (FE) model, generalized method of moments (GMM). For more robust results, this study employs the feasible generalized least square (FGLS) model. Based on the findings from the empirical analysis, this study concludes that environmental regulations and corporate social responsibility have a positive relationship with firm innovation (Input and Output). Moreover, a powerful CEO and ownership concentration are valuable for firm innovation (Input and Output), because these factors are positively connected with firm innovation (Input and Output). Majorly, this study contends that environmental regulations and corporate social responsibility are positively connected with firm innovation (Input and Output) because of the interactive role of CEO power. This study supported the role of both male and female CEOs for firm innovative practices. Therefore, firms of developing economies should also consider the female CEO. Besides, environmental regulations and corporate social responsibility also positively connected with firm innovation (Input and Output) because of the interactive role of owne

Published
2021

44. How environmental regulations and corporate social responsibility affect the firm innovation with the moderating role of Chief executive officer CEO power and ownership concentration

Abstract

At present, many economies are suffering from environmental problems that have significant effects on the climate and life of human beings, thus, the governments and institutions work to reduce the industrial negative effects on the environment. Based on the Porter Hypothesis, agency theory, and management and organization theory, this study examines the connection between environmental regulations, corporate social responsibility and firm innovation with the moderating role of CEO power and ownership concentration. Importantly, this study divided CEOs into male and female CEO. This study classifies firm innovation into two kinds, such as firm input innovation and firm output innovation. This study selects the sample of Pakistani manufacturing firms and uses the panel data for the period 2008 to 2018. For the analysis purpose, this study employs ordinary least squares (OLS), fixed-effect (FE) model, generalized method of moments (GMM). For more robust results, this study employs the feasible generalized least square (FGLS) model. Based on the findings from the empirical analysis, this study concludes that environmental regulations and corporate social responsibility have a positive relationship with firm innovation (Input and Output). Moreover, a powerful CEO and ownership concentration are valuable for firm innovation (Input and Output), because these factors are positively connected with firm innovation (Input and Output). Majorly, this study contends that environmental regulations and corporate social responsibility are positively connected with firm innovation (Input and Output) because of the interactive role of CEO power. This study supported the role of both male and female CEOs for firm innovative practices. Therefore, firms of developing economies should also consider the female CEO. Besides, environmental regulations and corporate social responsibility also positively connected with firm innovation (Input and Output) because of the interactive role of owne

Published
2021

45. Conceptualizing the moderating role of CEO power and ownership concentration in the relationship between audit committee and firm performance: empirical evidence from Pakistan

Abstract

Firms in developing economies generally find ways to enhance their reputation and growth in the international market. In this context, an Audit Committee (AC) is composed of multiple skilled members that control and monitor auditing activities and present a transparent image of their firm, which automatically attracts investors and builds investor confidence. Therefore, this study used CEO power and ownership concentration as moderating factors to examine the connection between AC and firm performance. For this purpose, this study used the data of Pakistani manufacturing firms for the period 2008 to 2018 and applied the Ordinary Least Square (OLS) method, the Fixed Effect (FE) model, and the Generalized Method of Moments (GMM). To check the robustness of the results, this study used a Feasible Generalized Least Square (FGLS) model. The findings of this study contended that AC and firm performance have a positive association with each other. Moreover, the findings revealed that CEO power positively influenced firm performance. Furthermore, lower ownership concentration is a valuable approach to maximize a firm’s performance. Importantly, the outcomes concluded that AC and firm performance have a positive connection with the moderating effects of CEO power. Moreover, AC and firm performance also have a positive association with the moderating effect of ownership concentration.

Published
2021

46. Carbon accounting system: the bridge between carbon governance and carbon performance in Malaysian Companies

Abstract

Introduction:Research has shown the negative impacts of climate change on the economy and how the state of the environment has been a complex global challenge. Prior studies have suggested immediate actions to avoid any unforeseen circumstances for all living things on Earth. Previous research has also supported all kinds of sustainability efforts as resolutions to address the deterioration of climate change caused by business activities. Originality: There is a need for companies to start acting and assigning employees to mitigate carbon emitted by corporations. This study is motivated by the lack of empirical evidence that examines how corporate carbon governance influences better carbon performance of organizations and authorizes organizations to implement and embed carbon accounting. Objective: This study used evidence from Malaysia to explore this subject matter and examined the association between carbon governance and carbon performance of corporations. The research also investigated the mediation effect of carbon accounting with respect to carbon governance and carbon performance. Findings: It is revealed that carbon governance had no significant influence on an organization’s carbon performance although carbon accounting implementation positively influenced carbon performance. The findings imply that despite its insignificance, carbon accounting remains a vital matter to be deployed by organizations for better carbon emission mitigation.

Published
2021

47. The moderating role of corporate social responsibility in the association of internal corporate governance and profitability; evidence from Pakistan

Abstract

At present, climate and other environmental problems are arising because of the development of the industrial sector at a large level. The industrial sector is supposed to be a major cause of climate change problems that lead to global warming. Therefore, corporate social responsibility (CSR) with the help of corporate governance is an imperative approach to control these social problems. Consequently, in the context of the organizational and management theory, agency theory, and the stakeholder theory, this study focuses on important factors of internal corporate governance such as chief executive officer (CEO) power, the board size, independence, ownership concentration, managerial ownership, and audit quality for improving the profitability of firms. Moreover, this study considers corporate social responsibility as a controlling and moderating factor for firm performance and internal corporate governance. We employed ordinary least square (OLS) for endogeneity testing, fixed effect (FE), generalized method of moments (GMM), and feasible generalized least square (FGLS) on data of Pakistani firms for the period of 2010–2019. The results of this study demonstrate the following outcomes: firstly, all internal corporate governance factors are positively linked with firm performance; secondly, corporate social responsibility (CSR) is the most valuable tool for improving profitability. Importantly, this study suggests that all internal corporate governance factors are positively linked with firm performance because of the interactive role of corporate social responsibility (CSR). This study practically contributes to the literature by suggesting the imperative role of corporate social responsibility (CSR) for internal corporate governance, which may help to reduce climate and social problems.

Published
2021

48. Carbon accounting system: the bridge between carbon governance and carbon performance in Malaysian Companies

Abstract

Introduction:Research has shown the negative impacts of climate change on the economy and how the state of the environment has been a complex global challenge. Prior studies have suggested immediate actions to avoid any unforeseen circumstances for all living things on Earth. Previous research has also supported all kinds of sustainability efforts as resolutions to address the deterioration of climate change caused by business activities. Originality: There is a need for companies to start acting and assigning employees to mitigate carbon emitted by corporations. This study is motivated by the lack of empirical evidence that examines how corporate carbon governance influences better carbon performance of organizations and authorizes organizations to implement and embed carbon accounting. Objective: This study used evidence from Malaysia to explore this subject matter and examined the association between carbon governance and carbon performance of corporations. The research also investigated the mediation effect of carbon accounting with respect to carbon governance and carbon performance. Findings: It is revealed that carbon governance had no significant influence on an organization’s carbon performance although carbon accounting implementation positively influenced carbon performance. The findings imply that despite its insignificance, carbon accounting remains a vital matter to be deployed by organizations for better carbon emission mitigation.

Published
2021

49. Conceptualizing the moderating role of CEO power and ownership concentration in the relationship between audit committee and firm performance: empirical evidence from Pakistan

Abstract

Firms in developing economies generally find ways to enhance their reputation and growth in the international market. In this context, an Audit Committee (AC) is composed of multiple skilled members that control and monitor auditing activities and present a transparent image of their firm, which automatically attracts investors and builds investor confidence. Therefore, this study used CEO power and ownership concentration as moderating factors to examine the connection between AC and firm performance. For this purpose, this study used the data of Pakistani manufacturing firms for the period 2008 to 2018 and applied the Ordinary Least Square (OLS) method, the Fixed Effect (FE) model, and the Generalized Method of Moments (GMM). To check the robustness of the results, this study used a Feasible Generalized Least Square (FGLS) model. The findings of this study contended that AC and firm performance have a positive association with each other. Moreover, the findings revealed that CEO power positively influenced firm performance. Furthermore, lower ownership concentration is a valuable approach to maximize a firm’s performance. Importantly, the outcomes concluded that AC and firm performance have a positive connection with the moderating effects of CEO power. Moreover, AC and firm performance also have a positive association with the moderating effect of ownership concentration.

Published
2021

50. The moderating role of corporate social responsibility in the association of internal corporate governance and profitability; evidence from Pakistan

Abstract

At present, climate and other environmental problems are arising because of the development of the industrial sector at a large level. The industrial sector is supposed to be a major cause of climate change problems that lead to global warming. Therefore, corporate social responsibility (CSR) with the help of corporate governance is an imperative approach to control these social problems. Consequently, in the context of the organizational and management theory, agency theory, and the stakeholder theory, this study focuses on important factors of internal corporate governance such as chief executive officer (CEO) power, the board size, independence, ownership concentration, managerial ownership, and audit quality for improving the profitability of firms. Moreover, this study considers corporate social responsibility as a controlling and moderating factor for firm performance and internal corporate governance. We employed ordinary least square (OLS) for endogeneity testing, fixed effect (FE), generalized method of moments (GMM), and feasible generalized least square (FGLS) on data of Pakistani firms for the period of 2010–2019. The results of this study demonstrate the following outcomes: firstly, all internal corporate governance factors are positively linked with firm performance; secondly, corporate social responsibility (CSR) is the most valuable tool for improving profitability. Importantly, this study suggests that all internal corporate governance factors are positively linked with firm performance because of the interactive role of corporate social responsibility (CSR). This study practically contributes to the literature by suggesting the imperative role of corporate social responsibility (CSR) for internal corporate governance, which may help to reduce climate and social problems.

Published
2021

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