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The Moderating Effect of Firm Visibility on the Corporate Social Responsibility-Firm Financial Performance Relationship: Evidence from France

In: Corporate Social Responsibility

Author

Listed:
  • Zyed Achour
  • Sonia Boukattaya

Abstract

This research aims to analyze the role played by firm visibility in moderating the relationship between Corporate Social Responsibility (CSR) and Firm Financial Performance (FFP). Based on the legitimacy theory, a firm's responses to stakeholder's expectations would be affected by its public visibility; we hypothesize a positive link between CSR and firm visibility. Moreover, visibility is expected to moderate the CSR-FFP relationship. We applied a Moderated Regression Analysis using the aggregate ESG scores as a CSR proxy on a panel data of listed French Companies (SBF120) over the period 2008-2017. Our findings are in line with legitimacy theory, suggesting that social initiatives would be mean to strengthen the legitimacy and to secure "license to operate". Furthermore, firm visibility would be a contingency variable that moderates positively CSR-FFP relationship.

Suggested Citation

  • Zyed Achour & Sonia Boukattaya, 2022. "The Moderating Effect of Firm Visibility on the Corporate Social Responsibility-Firm Financial Performance Relationship: Evidence from France," Chapters, in: Beatrice Orlando (ed.), Corporate Social Responsibility, IntechOpen.
    • Handle: RePEc:ito:pchaps:216840
    DOI: 10.5772/intechopen.95861
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    File URL: https://www.intechopen.com/chapters/74950
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    Cited by:

    1. Ye Lim Jung & Hyoung Sun Yoo, 2023. "Environmental, social, and governance activities and firm performance: Global evidence and the moderating effect of market competition," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(6), pages 2830-2839, November.

    More about this item

    Keywords

    corporate social responsibility (CSR); financial performance; firm visibility; legitimacy theory; SBF 120;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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