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CORPORATE SOCIAL RESPONSIBILITY AND MARKET VALUE DOES FOREIGN OWNERSHIP MATTER

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09 Pages : 90-98

http://dx.doi.org/10.31703/gmsr.2024(IX-II).09      10.31703/gmsr.2024(IX-II).09      Published : Jun 2024

Corporate Social Responsibility and Market Value: Does Foreign Ownership Matter?

Abstract

    This study explores the moderating role of foreign ownership in relationship between corporate social responsibilities reporting and firm market value using the cross-sectional data in the Indian context. For this purpose, this exploration takes data from 2019 of companies listed on Bombay stock exchange. Our results show that Tobin's Q is positively related to CSR but not at significant level. Foreign ownership effect on CSR spending levels and Tobin's Q has also been found negative. The investor did not perceive CSR spending positively whether the company spent more than required CSR spending or not. Future research may examine the empirical studies by taking the panel data of the Top 500 index companies. This study is relevant in the context to enhance our understanding of the value relevance of CSR and market value relationship and for getting more precise results.

    Corporate Social Responsibility, Market Value, Foreign-Ownership, Companies Act 2013 etc.

    (1) Vasia Maqsood
    MPhil Scholar, College of Commerce, Government College University, Faisalabad, Punjab, Pakistan.
    (2) Ghulam Mustafa
    MPhil Scholar, College of Commerce, Government College University, Faisalabad, Punjab, Pakistan.
    (3) Khurram Ashfaq
    Assistant Professor, College of Commerce, Government College University, Faisalabad, Punjab, Pakistan.
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Cite this article

APA

    APA : Maqsood, V., Mustafa, G., & Ashfaq, K. (2024). Corporate Social Responsibility and Market Value: Does Foreign Ownership Matter?. Global Management Sciences Review, IX(II), 90-98. https://doi.org/10.31703/gmsr.2024(IX-II).09

CHICAGO

    CHICAGO : Maqsood, Vasia, Ghulam Mustafa, and Khurram Ashfaq. 2024. "Corporate Social Responsibility and Market Value: Does Foreign Ownership Matter?." Global Management Sciences Review, IX (II): 90-98 doi: 10.31703/gmsr.2024(IX-II).09

HARVARD

    HARVARD : MAQSOOD, V., MUSTAFA, G. & ASHFAQ, K. 2024. Corporate Social Responsibility and Market Value: Does Foreign Ownership Matter?. Global Management Sciences Review, IX, 90-98.

MHRA

    MHRA : Maqsood, Vasia, Ghulam Mustafa, and Khurram Ashfaq. 2024. "Corporate Social Responsibility and Market Value: Does Foreign Ownership Matter?." Global Management Sciences Review, IX: 90-98

MLA

    MLA : Maqsood, Vasia, Ghulam Mustafa, and Khurram Ashfaq. "Corporate Social Responsibility and Market Value: Does Foreign Ownership Matter?." Global Management Sciences Review, IX.II (2024): 90-98 Print.

OXFORD

    OXFORD : Maqsood, Vasia, Mustafa, Ghulam, and Ashfaq, Khurram (2024), "Corporate Social Responsibility and Market Value: Does Foreign Ownership Matter?", Global Management Sciences Review, IX (II), 90-98

TURABIAN

    TURABIAN : Maqsood, Vasia, Ghulam Mustafa, and Khurram Ashfaq. "Corporate Social Responsibility and Market Value: Does Foreign Ownership Matter?." Global Management Sciences Review IX, no. II (2024): 90-98. https://doi.org/10.31703/gmsr.2024(IX-II).09