The Impact of CSR on the Financial Performance of Firms in Different Industries: An Example from the Financial Industry and the Healthcare Industry

Ioannis Gkliatis, Epameinondas Katsikas, Dimitrios Koufopoulos, Zeci Chen

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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Abstract

This Paper Analyses The Impact Of Corporate Social Responsibility (CSR) On Corporate Financial Performance (CFP) in the financial and healthcare sectors in China, examining the annual financial data and ESG scores of a total of 124 companies between 2016 and 2021 and selecting ROA, corporate financial leverage, company size and board size as variables. A panel data regression was used to conduct an econometric analysis to examine the impact of social responsibility on corporate financial performance in the total industry, the financial industry and the healthcare industry, respectively. The empirical analysis of this study concluded that the effect of CSR on corporate financial performance has different results in different industries, the effect of CSR on CFP is significant and negative in the healthcare industry and insignificant in the financial industry. However, there are some limitations to this study. The study only considered the financial sector and the healthcare sector and was not able to include a number of other sectors for comparison. The study was also limited by the sample size of CSR in Chinese companies, which made the model less convincing, and the choice of variables also affected the results. However, these provide ideas and provide a pavement for future research.
Original languageEnglish
Title of host publicationProceedings of the 19th European Conference on Management Leadership and Governance
EditorsMartin Rich
Place of PublicationReading, UK
PublisherAcademic Conferences International (ACI)
Pages566-576
Number of pages10
Volume19
Edition19
ISBN (Electronic)978-1-914587-93-1
ISBN (Print)978-1-914587-92-4
DOIs
Publication statusPublished - 16 Nov 2023
Event19th European Conference on Management Leadership and Governance - London, United Kingdom
Duration: 23 Nov 202324 Nov 2023

Publication series

NameConference Proceedings
PublisherAcademic Conferences International Limited
Number1
Volume19
ISSN (Print)2048-9021
ISSN (Electronic)2048-903X

Conference

Conference19th European Conference on Management Leadership and Governance
Abbreviated titleECMLG 2023
Country/TerritoryUnited Kingdom
CityLondon
Period23/11/2324/11/23

Keywords

  • CSR
  • Healthcare industry
  • Financial industry
  • Financial performance

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