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Are Spanish Listed Firms Betting on CSR during the Crisis? Evidence from the Agency Problem

Opened Access Are Spanish Listed Firms Betting on CSR during the Crisis? Evidence from the Agency Problem

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Autor: Miras Rodríguez, María del Mar
Escobar Pérez, Bernabé
Carrasco Gallego, Amalia
Departamento: Universidad de Sevilla. Departamento de Economía Financiera y Dirección de Operaciones
Universidad de Sevilla. Departamento de Contabilidad y Economía Financiera
Fecha: 2014
Publicado en: Business and Management Research, 3 (1), 85-95.
Tipo de documento: Artículo
Resumen: Companies have to continue with their businesses in the current uncertain environment triggered by the economic crisis. Since the decrease in the performance of companies is a reality, academicians, managers and entrepreneur are worried about what may be happening with Corporate Social Responsibility. Because of the strong impact of the crisis on Spain, we are going to study its effect on the CSR behaviour of Spanish companies. Therefore, we analyse whether the performance of the company, as well as some shareholding characteristics, influence CSR before and during the crisis. The results show that large Spanish companies continue to carry out CSR actions despite the effects of the crisis on their financial health. It seems that shareholders are more influential than managers in these strategic and entrepreneurial decisions. Additionally, the presence of a reference shareholder means that companies are more committed to CSR, although a higher percentage of insider shareholders cause ...
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Cita: Miras Rodríguez, M.d.M., Escobar Pérez, B. y Carrasco Gallego, A. (2014). Are Spanish Listed Firms Betting on CSR during the Crisis? Evidence from the Agency Problem. Business and Management Research, 3 (1), 85-95.
Tamaño: 192.1Kb
Formato: PDF

URI: http://hdl.handle.net/11441/64598

DOI: 10.5430/bmr.v3n1p85

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