Corporate Social Responsibility and Firm Default Risk Mitigation: The Moderating Role of the Legal Context
This paper explores the impact of corporate social responsibility (CSR) on default risk in various institutional contexts. Using CSR scores and credit ratings for 1,153 firms from 45 countries, we find that CSR reduces the firm default risk level and that the effect is stronger in civil law countrie...
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| الحاوية / القاعدة: | URI:https://journals.openedition.org/fcs, |
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| المؤلفون الرئيسيون: | , , |
| التنسيق: | Article ou chapitre numérique |
| اللغة: | Anglais |
| منشور في: |
Finance Contrôle Stratégie
2022
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| الموضوعات: | |
| الوصول للمادة أونلاين: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
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openedition-oai:revues.org:fcs_8784 |
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openedition |
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openedition-oai:revues.org:fcs_8784 https://doi.org/10.4000/fcs.8784 urn:doi:10.4000/fcs.8784 en https://journals.openedition.org/fcs/8784 2022-04-28T02:00:00Z info:eu-repo/semantics/openAccess article info:eu-repo/semantics/article urn:handle:20.500.13089/gat8 All rights reserved Corporate Social Responsibility and Firm Default Risk Mitigation: The Moderating Role of the Legal Context Finance Contrôle Stratégie Association FCS info:eu-repo/semantics/reference/issn/2261-5512 info:eu-repo/semantics/reference/issn/1287-1141 URI:https://journals.openedition.org/fcs Shahrour, Mohamad Hassan Girerd-Potin, Isabelle Taramasco, Ollivier corporate social responsibility firm default risk credit ratings legal origins stakeholder-oriented. responsabilité sociale des entreprises risque de défaillance des entreprises notations de crédits systèmes juridiques orientation vers les parties prenantes. This paper explores the impact of corporate social responsibility (CSR) on default risk in various institutional contexts. Using CSR scores and credit ratings for 1,153 firms from 45 countries, we find that CSR reduces the firm default risk level and that the effect is stronger in civil law countries, particularly German and Scandinavian law countries, than in common law countries. The environment component of CSR appears to have the highest impact on default risk. The results, which may prove useful to firms in their fight for survival, are robust using various measures and classifications. Cet article explore dans différents contextes institutionnels l’impact de la Responsabilité Sociale des Entreprises (RSE) sur le risque de défaillance. En utilisant les notations de RSE et de crédit de 1153 entreprises dans 45 pays, nous constatons que la RSE réduit le risque de défaillance et que l’effet est plus fort dans les pays de civil law, en particulier de droit allemand et scandinave, que dans les pays de common law. La composante environnementale est celle qui a l’impact le plus fort. Les résultats, utiles aux entreprises pour leur survie, sont robustes à l’usage de différentes mesures et classifications. |
| collection |
OpenEdition Journal |
| language |
Anglais |
| format |
Article ou chapitre numérique |
| building |
0/Bibliothèque numérique/ 1/Bibliothèque numérique/OpenEdition Journals/ |
| topic |
corporate social responsibility firm default risk credit ratings legal origins stakeholder-oriented. responsabilité sociale des entreprises risque de défaillance des entreprises notations de crédits systèmes juridiques orientation vers les parties prenantes. |
| spellingShingle |
corporate social responsibility firm default risk credit ratings legal origins stakeholder-oriented. responsabilité sociale des entreprises risque de défaillance des entreprises notations de crédits systèmes juridiques orientation vers les parties prenantes. Shahrour, Mohamad Hassan Girerd-Potin, Isabelle Taramasco, Ollivier Corporate Social Responsibility and Firm Default Risk Mitigation: The Moderating Role of the Legal Context |
| description |
This paper explores the impact of corporate social responsibility (CSR) on default risk in various institutional contexts. Using CSR scores and credit ratings for 1,153 firms from 45 countries, we find that CSR reduces the firm default risk level and that the effect is stronger in civil law countries, particularly German and Scandinavian law countries, than in common law countries. The environment component of CSR appears to have the highest impact on default risk. The results, which may prove useful to firms in their fight for survival, are robust using various measures and classifications. |
| author |
Shahrour, Mohamad Hassan Girerd-Potin, Isabelle Taramasco, Ollivier |
| author_facet |
Shahrour, Mohamad Hassan Girerd-Potin, Isabelle Taramasco, Ollivier |
| author_sort |
Shahrour, Mohamad Hassan |
| title |
Corporate Social Responsibility and Firm Default Risk Mitigation: The Moderating Role of the Legal Context |
| title_short |
Corporate Social Responsibility and Firm Default Risk Mitigation: The Moderating Role of the Legal Context |
| title_full |
Corporate Social Responsibility and Firm Default Risk Mitigation: The Moderating Role of the Legal Context |
| title_fullStr |
Corporate Social Responsibility and Firm Default Risk Mitigation: The Moderating Role of the Legal Context |
| title_full_unstemmed |
Corporate Social Responsibility and Firm Default Risk Mitigation: The Moderating Role of the Legal Context |
| title_sort |
corporate social responsibility and firm default risk mitigation: the moderating role of the legal context |
| publisher |
Finance Contrôle Stratégie |
| publishDate |
2022 |
| container_title |
URI:https://journals.openedition.org/fcs |
| url |
https://ezproxy.univ-orleans.fr/login?url=https://doi.org/10.4000/fcs.8784 https://ezproxy.univ-orleans.fr/login?url=https://journals.openedition.org/fcs/8784 |
| _version_ |
1877293203741212672 |