Ответственное и устойчивое кредитование финансовыми учреждениями: обзор литературы
https://doi.org/10.26794/2587-5671-2023-27-5-195-204
Аннотация
В данном исследовании используется обширный обзор литературы для оценки того, как развиваются научные исследования в области корпоративной социальной ответственности (КСО). Журналы и статьи в базах данных ISI Web of Science, SCOPUS и Taylor&Francis послужили основой для данного обзора литературы.
Цель исследования заключается в том, чтобы обратить внимание на основные научные работы и журналы и показать потенциальные направления для будущих исследований. Детерминантами, влияющими на показатели КСО организации, являются управление, рентабельность, характеристики фирмы и минимальные расходы. Влияние КСО было измерено с помощью рыночной стоимости, риска, избыточной доходности акций и морального капитала. Все переменные обсуждаются в ведущих научных журналах, которые раскрывают структуру КСО.
Научная новизна исследования заключается в анализе новых тенденций, при этом концентрируясь на положениях о КСО.
В заключение указаны потенциальные направления, по которым ученые могут продвигать свои знания: устойчивое и ответственное кредитование, ESGстратегия.
Об авторах
С. Сачдева
Университет Христа
Индия
Конфликт интересов:
Индия
Сакши Сачдева — научный сотрудник
Карнатака
Конфликт интересов:
авторы заявляют об отсутствии конфликта интересов.
Л. Рамеш
Университет Христа
Индия
Конфликт интересов:
Индия
Латха Рамеш — P hD, доцент
Карнатака
Конфликт интересов:
авторы заявляют об отсутствии конфликта интересов.
Список литературы
1. Foote J., Gaffney N., Evans J. R. Corporate social responsibility: Implications for performance excellence. Total Quality Management and Business Excellence. 2010;21(8):799–812. DOI: 10.1080/14783363.2010.487660
2. Godfrey P. C., Merill C. B., Hansen J. M. The relationship between corporate social responsibility and shareholder value: An empirical test of the risk management hypothesis. Strategic Management Journal. 2009;30(4):425–445. DOI: 10.1002/smj.750
3. Visser W. The age of responsibility: CSR 2.0 and the new DNA of business. Journal of Business Systems Governance & Ethics. 2010;5(3):1–16. DOI: 10.15209/jbsge.v5i3.185
4. Hopkins M. Measurement of corporate social responsibility. International Journal of Management and Decision Making. 2005;6(3–4):213–231. DOI: 10.1504/IJMDM.2005.006549
5. Bowen H. R. Social responsibilities of the businessman. 1st ed. Iowa City, IA: University of Iowa Press; 1953. 248 p.
6. Kansal M., Joshi M., Batra G. S. Determinants of corporate social responsibility disclosures: Evidence from India. Advances in Accounting. 2014;30(1):217–229. DOI: 10.1016/j.adiac.2014.03.009
7. Maqbool S., Zameer M. N. Corporate social responsibility and financial performance: An empirical analysis of Indian banks. Future Business Journal. 2018;4(1):84–93. DOI: 10.1016/j.fbj.2017.12.002
8. Gangi F., Mustilli M., Varrone N., Daniele L. M. Corporate social responsibility and banks’ financial performance. International Business Research. 2018;11(10):42–58. DOI: 10.5539/ibr.v11n10p42
9. Taşkın D. The relationship between CSR and banks’ financial performance: Evidence from Turkey. Journal of Yaşar University. 2015;10(39):21–30. DOI: 10.19168/jyu.97694
10. Mason C., Simmons J. Embedding corporate social responsibility in corporate governance: A stakeholder systems approach. Journal of Business Ethics. 2014;119(1):77–86. DOI: 10.1007/s10551–012–1615–9
11. Arx U. von, Ziegler A. The effect of corporate social responsibility on stock performance: New evidence for the USA and Europe. Quantitative Finance. 2014;14(6):977–991. DOI: 10.1080/14697688.2013.815796
12. Carroll A. B. Corporate social responsibility: Evolution of a definitional construct. Business & Society. 1999;38(3):268–295. DOI: 10.1177/000765039903800
13. Freeman R. E., Dmytriyev S. Corporate social responsibility and stakeholder theory: Learning from each other. Symphonya: Emerging Issues in Management. 2017;(1):7–15. DOI: 10.4468/2017.1.02freeman.dmytriyev
14. El Ghoul S., Guedhami O., Kwok C. C.Y., Mishra D. R. Does corporate social responsibility affect the cost of capital? Journal of Banking & Finance. 2011;35(9):2388–2406. DOI: 10.1016/j.jbankfin.2011.02.007
15. Carroll A. B. The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders. Business Horizons. 1991;34(4):39–48. DOI: 10.1016/0007–6813(91)90005-G
16. Herrera Madueño J., Larrán Jorge M., Martínez Conesa I., Martínez-Martínez D. Relationship between corporate social responsibility and competitive performance in Spanish SMEs: Empirical evidence from a stakeholders’ perspective. BRQ: Business Research Quarterly. 2016;19(1):55–72. DOI: 10.1016/j.brq.2015.06.002
17. O’Riordan L., Fairbrass J. Managing CSR stakeholder engagement: A new conceptual framework. Journal of Business Ethics. 2014;125(1):121–145. DOI: 10.1007/s10551–013–1913-x
18. Mackey A., Mackey T. B., Barney J. B. Corporate social responsibility and firm performance: Investor preferences and corporate strategies. The Academy of Management Review. 2007;32(3):817–835. DOI: 10.5465/AMR.2007.25275676
19. Mitchell R. K., Agle B. R., Wood D. J. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. The Academy of Management Review. 1997;22(4):853–886. DOI: 10.2307/259247
20. Matuszak Ł., Różańska E., Macuda M. The impact of corporate governance characteristics on banks’ corporate social responsibility disclosure: Evidence from Poland. Journal of Accounting in Emerging Economies. 2019;9(1):75–102. DOI: 10.1108/JAEE-04–2017–0040
21. Choi J.-S. An investigation of the initial voluntary environmental disclosures made in Korean semi-annual financial reports. Pacific Accounting Review. 1999;11(1):73–102.
22. Cormier D., Gordon I. M. An examination of social and environmental reporting strategies. Accounting, Auditing & Accountability Journal. 2001;14(5):587–617. DOI: 10.1108/EUM0000000006264
23. Garg A., Gupta P. K., Bhullar P. S. Is CSR expenditure relevant to the firms in India? Organizations and Markets in Emerging Economies. 2021;12(1):178–197. DOI: 10.15388/omee.2021.12.53
24. Hambrick D. C., Mason P. A. Upper echelons: The organization as a reflection of its top managers. The Academy of Management Review. 1984;9(2):193–206. DOI: 10.2307/258434
25. Barako D. G., Brown A. M. Corporate social reporting and board representation: Evidence from the Kenyan banking sector. Journal of Management & Governance. 2008;12(4):309–324. DOI: 10.1007/s10997–008–9053-x
26. Jizi M. I., Salama A., Dixon R., Stratling R. Corporate governance and corporate social responsibility disclosure: Evidence from the U.S. banking sector. Journal of Business Ethics. 2014;125(4):601–615. DOI: 10.1007/s10551–013–1929–2
27. Sharif M., Rashid K. Corporate governance and corporate social responsibility (CSR) reporting: An empirical evidence from commercial banks (CB) of Pakistan. Quality & Quantity. 2014;48(5):2501–2521. DOI: 10.1007/s11135–013–9903–8
28. Khan H.-U.-Z. The effect of corporate governance elements on corporate social responsibility (CSR) reporting: Empirical evidence from private commercial banks of Bangladesh. International Journal of Law and Management. 2010;23;52(2):82–109. DOI: 10.1108/17542431011029406
29. Hossain M., Reaz M. The determinants and characteristics of voluntary disclosure by Indian banking companies. Corporate Social Responsibility and Environmental Management. 2007;14(5):274–288. DOI: 10.1002/csr.154
30. Ghabayen M. A., Mohamad N. R., Ahmad N. Board characteristics and corporate social responsibility disclosure in the Jordanian banks. Corporate Board: Role, Duties, and Composition. 2016;12(1):84–99. DOI: 10.22495/cbv12i1c1art2
31. Godos-Díez J.L., Fernández-Gago R., Cabeza-García L., Martínez-Campillo A. Determinantes de las prácticas de RSC: Análisis de la influencia de la propiedad y del efecto mediador de la alta dirección. Revista Española de Financiación y Contabilidad. 2014;43(1):47–68. DOI: 10.1080/02102412.2014.890824
32. Grosfeld I., Hashi I. Changes in ownership concentration in mass privatized firms: Evidence from Poland and the Czech Republic. Corporate Governance: An International Review. 2007;15(4):520–534. DOI: 10.1111/j.1467–8683.2007.00585.x
33. Aebi V., Sabato G., Schmid M. Risk management, corporate governance, and bank performance in the financial crisis. Journal of Banking & Finance. 2012;36(12):3213–3226. DOI: 10.1016/j.jbankfin.2011.10.020
34. Fahad P., Rahman P. M. Impact of corporate governance on CSR disclosure. International Journal of Disclosure and Governance. 2020;17(2–3):155–167. DOI: 10.1057/s41310–020–00082–1
35. Forker J. J. Corporate governance and disclosure quality. Accounting and Business Research. 1992;22(86):111–124. DOI: 10.1080/00014788.1992.9729426
36. Said R., Zainuddin Y. H., Haron H. The relationship between corporate social responsibility disclosure and corporate governance characteristics in Malaysian public listed companies. Social Responsibility Journal. 2009;5(2):212–226. DOI: 10.1108/17471110910964496
37. Khan A., Muttakin M. B., Siddiqui J. Corporate governance and corporate social responsibility disclosures: Evidence from an emerging economy. Journal of Business Ethics. 2013;114(2):207–223. DOI: 10.1007/s10551–012–1336–0
38. Ali W., Frynas J. G., Mahmood Z. Determinants of corporate social responsibility (CSR) disclosure in developed and developing countries: A literature review. Corporate Social Responsibility and Environmental Management. 2017;24(4):273–294. DOI: 10.1002/csr.1410
39. Hackston D., Milne M. J. Some determinants of social and environmental disclosures in New Zealand companies. Accounting, Auditing & Accountability Journal. 1996;9(1):77–108. DOI: 10.1108/09513579610109987
40. McGuire J.B., Sundgren A., Schneeweis T. Corporate social responsibility and firm financial performance. The Academy of Management Journal. 1988;31(4):854–872. DOI: 10.2307/256342
41. Waddock S. A., Graves S. B. The corporate social performance — financial performance link. Strategic Management Journal. 1997;18(4):303–319. DOI: 10.1002/(SICI)1097–0266(199704)18:4<303:: AID-SMJ869>3.0.CO;2-G
42. Sharma R., Aggarwal P. Impact of mandatory corporate social responsibility on corporate financial performance: The Indian experience. Social Responsibility Journal. 2022;18(4):704–722. DOI: 10.1108/SRJ-09–2020–0394
43. Sengupta P. Corporate disclosure quality and the cost of debt. The Accounting Review. 1998;73(4):459–474.
44. Attig N., el Ghoul S., Guedhami O., Suh J. Corporate social responsibility and credit ratings. Journal of Business Ethics. 2013;117(4):679–694. DOI: 10.1007/s10551–013–1714–2
45. Shane P. B., Spicer B. H. Market response to environmental information produced outside the firm. The Accounting Review. 1983;58(3):521–538.
46. Chih H.-L., Chih H.-H., Chen T.-Y. On the determinants of corporate social responsibility: International evidence on the financial industry. Journal of Business Ethics. 2010;93(1):115–135. DOI: 10.1007/s10551–009–0186-x
47. Moser D. V., Martin P. R. A broader perspective on corporate social responsibility research in accounting. The Accounting Review. 2012;87(3):797–806. DOI: 10.2308/accr-50139
48. de Klerk M., de Villiers C. The value relevance of corporate responsibility reporting: South African evidence. Meditari Accountancy Research. 2012;20(1):21–38. DOI: 10.1108/10222521211234200
49. Solomon J. F., Solomon A. Private social, ethical and environmental disclosure. Accounting, Auditing & Accountability Journal. 2006;19(4):564–591. DOI: 10.1108/09513570610679137
50. Weber O., Diaz M., Schwegler R. Corporate social responsibility of the financial sector — s trengths, weaknesses and the impact on sustainable development. Sustainable Development. 2014;22(5):321–335. DOI: 10.1002/sd.1543
51. Alshehhi A., Nobanee H., Khare N. The impact of sustainability practices on corporate financial performance: Literature trends and future research potential. Sustainability. 2018;10(2):494. DOI: 10.3390/su10020494
52. Inoue Y., Lee S. Effects of different dimensions of corporate social responsibility on corporate financial performance in tourism-related industries. Tourism Management. 2011;32(4):790–804. DOI: 10.1016/j.tourman.2010.06.019
53. Luo X., Bhattacharya C. B. Corporate social responsibility, customer satisfaction, and market value. Journal of Marketing. 2006;70(4):1–8. DOI: 10.1509/jmkg.70.4.001
54. Сс F., Petras M. Corporate social responsibility and bank risk. Journal of Business Economics. 2022;92(3):397–428. DOI: 10.1007/s11573–021–01069–2
55. Chen Y.-C., Hung M., Wang Y. The effect of mandatory CSR disclosure on firm profitability and social externalities: Evidence from China. Journal of Accounting and Economics. 2018;65(1):169–190. DOI: 10.1016/j.jacceco.2017.11.009
56. Jiao Y. Stakeholder welfare and firm value. Journal of Banking & Finance. 2010;34(10):2549–2561. DOI: 10.1016/j.jbankfin.2010.04.013
57. Gregory A., Tharyan R., Whittaker J. Corporate social responsibility and firm value: Disaggregating the effects on cash flow, risk, and growth. Journal of Business Ethics. 2014;124(4):633–657. DOI: 10.1007/s10551–013–1898–5
58. Hajiha Z., Sarfaraz B. Relationship between corporate social responsibility and cost of capital in listed companies in Tehran Stock Exchange. World Applied Sciences Journal. 2013;28(11):1544–1554. DOI: 10.5829/idosi.wasj.2013.28.11.1919
59. McWilliams A., Siegel D. S., Wright P. M. Corporate social responsibility: Strategic implications. Journal of Management Studies. 2006;43(1):1–18. DOI: 10.1111/j.1467–6486.2006.00580.x
60. Fidanza B., Morresi O. Does the Fama-Franch three-factor model work in the financial industry? Evidence from European bank stocks. Università degli Studi di Macerata Working Paper. 2015;(47). URL: https://core.ac.uk/download/pdf/55282076.pdf
61. Gramlich D., Finster N. Corporate sustainability and risk. Journal of Business Economics. 2013;83(6):631–664. DOI: 10.1007/s11573–013–0666–4
62. Boyd J. H., Graham S. L., Hewitt R. S. Bank holding company mergers with nonbank financial firms: Effects on the risk of failure. Journal of Banking & Finance. 1993;17(1):43–63. DOI: 10.1016/0378–4266(93)90079-S
63. Laeven L., S. Sachdeva, L. Ramesh Levine R. Bank governance, regulation and risk taking. Journal of Financial Economics. 2009;93(2):259–275. DOI: 10.1016/j.jfineco.2008.09.003
64. Houston J. F., Lin C., Lin P., Ma Y. Creditor rights, information sharing, and bank risk taking. Journal of Financial Economics. 2010;96(3):485–512. DOI: 10.1016/j.jfineco.2010.02.008
65. Le Leslé V., Avramova M. S. Revisiting risk-weighted assets. IMF Working Paper. 2012;(90). URL: https://ypfsresourcelibrary.blob.core.windows.net/fcic/YPFS/LeLesle,%20Vanessa%20&%20Sofiya%20Avramova%20-%20Revisiting%20Risk%20Weighted%20Assests%202012.pdf
66. Baule R., Tallau C. Revisiting Basel risk weights: Cross-sectional risk sensitivity and cyclicality. Journal of Business Economics. 2016;86(8):905–931. DOI: 10.1007/s11573–016–0824–6
67. King A. A., Lenox M. J. Does it really pay to be green? An empirical study of firm environmental and financial performance. Journal of Industrial Ecology. 2001;5(1):105–116. DOI: 10.1162/108819801753358526
68. Guenster N., Bauer R., Derwall J., Koedijk K. The economic value of corporate eco-efficiency. European Financial Management. 2011;17(4):679–704. DOI: 10.1111/j.1468–036X.2009.00532.x
69. Telle K. “It pays to be green” — A premature conclusion? Environmental and Resource Economics. 2006;35(3):195– 220. DOI: 10.1007/s10640–006–9013–3
70. Friedman M. A Friedman doctrine: The social responsibility of business is to increase its profits. The New York Times Magazine. Sep. 13, 1970. URL: https://www.nytimes.com/1970/09/13/archives/a-friedman-doctrine-thesocial-responsibility-of-business-is-to.html
71. Kennett D. A. Altruism and economic behavior: II private charity and public policy. The American Journal of Economics and Sociology. 1980;39(4):337–352. DOI: 10.1111/j.1536–7150.1980.tb01285.x
72. Bhatia A., Dhawan A. A paradigm shift in corporate social responsibility: India’s transition from mandatory regime to the COVID-19 era. Social Responsibility Journal. 2023;19(1):166–183. DOI: 10.1108/SRJ-01–2021–0020
Рецензия
Для цитирования:
Сачдева С., Рамеш Л. Ответственное и устойчивое кредитование финансовыми учреждениями: обзор литературы. Финансы: теория и практика/Finance: Theory and Practice. 2023;27(5):195-204. https://doi.org/10.26794/2587-5671-2023-27-5-195-204
For citation:
Sachdeva S., Ramesh L. Responsible and sustainable lending by Financial Institutions: A literature Review. Finance: Theory and Practice. 2023;27(5):195-204. https://doi.org/10.26794/2587-5671-2023-27-5-195-204
Просмотров:
477
Послать статью по эл. почте 