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Exploring the Impact of Corporate Social Responsibility on Leverage of Listed Companies in Oman

In: Global Economic Challenges

Author

Listed:
  • Afshan Younas

    (Arab Open University)

  • Aza Azlina Md Kassim

    (Management & Science University)

Abstract

The purpose of this paper is to examine the association between corporate social responsibility (CSR) disclosure and the leverage of Omani non-financial listed companies, using data from the Muscat Securities market (MSM). A fixed-effect regression model is used to examine the relationship between CSR disclosure and leverage among non-financial listed companies of Oman. To measure the CSR disclosure of listed companies, an index has been developed which comprised 40 elements covering all aspects of CSR philanthropy. The paper finds that higher levels of CSR disclosure are associated with lower leverage levels. The relationship between CSR disclosure and leverage shows a strong negative relationship in the context of Omani firms. The paper concludes that CSR disclosure provides balance control to leverage of the public listed companies. This study is conducted to provide evidence of the CSR disclosure impact on leverage in Oman, a country where CSR disclosure is mandatory under corporate governance law and the capital market is still not well developed. This paper’s findings provide evidence that CSR disclosure by companies is useful to the board of directors and managers, as it controls the leverage of the firms.

Suggested Citation

  • Afshan Younas & Aza Azlina Md Kassim, 2023. "Exploring the Impact of Corporate Social Responsibility on Leverage of Listed Companies in Oman," Springer Proceedings in Business and Economics, in: Nesrin Özataç & Korhan K. Gökmenoğlu & Daniel Balsalobre Lorente & Nigar Taşpınar & Bezhan Rustamov (ed.), Global Economic Challenges, pages 39-53, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-23416-3_4
    DOI: 10.1007/978-3-031-23416-3_4
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