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Family Firms And Corporate Social Responsibility (CSR): Preliminary Evidence From The French Stock Market

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  • Issam Laguir

    (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UPVM - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School)

  • Jamal Elbaz

    (Université Ibn Zohr [Agadir])

Abstract

This paper examines the CSR practices of family firms listed in the French financial market and distinguishes between those managed by a family member CEO and those managed by a competent external CEO. We adopt an exploratory approach and begin with a content analysis of the annual reports from family firms listed in the CAC 40 index during the 2005-2011 period. We then conduct various statistical techniques (e.g., Pearson correlation analysis and ordinary least squares regression analysis) to study the relationships among social performance and family involvement. This paper is the first to provide a preliminary assessment of French family firms' CSR practices in the current economic context. The study suggests that family firms intensify their CSR efforts during the 2005-2011 period. Our study also reveals that family firms managed by competent external CEOs show better social performance than those managed by family member CEOs. Indeed, the empirical results consistently show a negative and statistically significant association between family involvement and corporate social performance.

Suggested Citation

  • Issam Laguir & Jamal Elbaz, 2014. "Family Firms And Corporate Social Responsibility (CSR): Preliminary Evidence From The French Stock Market," Post-Print hal-02047891, HAL.
    • Handle: RePEc:hal:journl:hal-02047891
    DOI: 10.19030/jabr.v30i4.8647
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    Cited by:

    1. Min-Lee Chan & Cho-Min Lin & Huan-Min You, 2022. "Corporate Social Responsibility and Value of Cash Holdings in Taiwan: The Role of Family Firms," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 12(4), pages 1-3.
    2. Carla Curado & António Mota, 2021. "A Systematic Literature Review on Sustainability in Family Firms," Sustainability, MDPI, vol. 13(7), pages 1-17, March.
    3. Ernst, Robin-Alexander & Gerken, Maike & Hack, Andreas & Hülsbeck, Marcel, 2022. "Family firms as agents of sustainable development: A normative perspective," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    4. Leonidou, Leonidas C. & Eteokleous, Pantelitsa P. & Christodoulides, Paul & Strømfeldt Eduardsen, Jonas, 2023. "A dynamic capabilities perspective to socially responsible family business: Implications on social-based advantage and market performance," Journal of Business Research, Elsevier, vol. 155(PA).

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