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Philanthropic giving, market-based performance and institutional ownership: Evidence from an emerging economy

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  • Bose, Sudipta
  • Podder, Jyotirmoy
  • Biswas, Kumar

Abstract

This paper investigates the association of philanthropic giving with market-based performance and institutional ownership using data from banks in Bangladesh from 2007 to 2013. Our findings suggest that banks with a higher level of philanthropic giving achieve better performance, with a positive association also found between philanthropic giving and institutional ownership. This implies that institutional owners invest in banks that contribute more to philanthropic activities. These findings should be of interest to managers, regulators and policy makers in countries that share similar financial and socio-economic systems.

Suggested Citation

  • Bose, Sudipta & Podder, Jyotirmoy & Biswas, Kumar, 2017. "Philanthropic giving, market-based performance and institutional ownership: Evidence from an emerging economy," The British Accounting Review, Elsevier, vol. 49(4), pages 429-444.
    • Handle: RePEc:eee:bracre:v:49:y:2017:i:4:p:429-444
    DOI: 10.1016/j.bar.2016.11.001
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    More about this item

    Keywords

    Philanthropic giving; Corporate social responsibility; Firm performance; Institutional shareholders; Emerging economy;
    All these keywords.

    JEL classification:

    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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