CSR committee and firm value during the COVID-19 pandemic

Authors: Hsu, Yu-Lin ;

Chu, Ya-Ching

Source: Economics and Business Letters

Full text

: https://doi.org/10.17811/ebl.12.2.2023.137-146

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.

Rights

http://creativecommons.org/licenses/by-nc-nd/3.0/es/

Cite as

Hsu, Y. & Chu, Y. 2023, 'CSR committee and firm value during the COVID-19 pandemic', Economics and Business Letters, 12(2), pp. 137-146. https://doi.org/10.17811/ebl.12.2.2023.137-146

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DOI: https://doi.org/10.17811/ebl.12.2.2023.137-146

Repository URI: https://strathprints.strath.ac.uk/86170/