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Journal of Business Ethics

Erschienen in:

01.11.2013

Ownership Concentration and CSR Policy of European Multinational Enterprises

verfasst von: Lammertjan Dam, Bert Scholtens

Erschienen in: Journal of Business Ethics | Ausgabe 1/2013

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Abstract

This study investigates how ownership concentration in European multinational firms is associated with these firms’ corporate social responsibility (CSR). We employ factor analysis on responsibility data from EIRiS and use a regression analysis. Using firm-level data for almost 700 European firms, we find that shareholder concentration is significantly related to such policies. That is, more concentrated ownership goes hand in hand with poorer CSR policies. In our analysis, we control for size, leverage, profitability, industry, and country of origin. We use several indicators for ownership concentration. We also find that with more concentrated ownership, CSR of the firm gets worse. We suggest that especially with large shareholders, CSR would need to be included in their performance assessment.

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Austria, Belgium, Denmark, Finland, France, Germany, Greece, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK.

See Table 4 in Appendix for an overview of the industries.

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Titel: Ownership Concentration and CSR Policy of European Multinational Enterprises
verfasst von: Lammertjan Dam
Bert Scholtens
Publikationsdatum: 01.11.2013
Verlag: Springer Netherlands
Erschienen in: Journal of Business Ethics / Ausgabe 1/2013
Print ISSN: 0167-4544
Elektronische ISSN: 1573-0697
DOI: https://doi.org/10.1007/s10551-012-1574-1

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