RT Article
T1 Ownership Concentration and CSR Policy of European Multinational Enterprises
JF Journal of business ethics
VO 118
IS 1
SP 117
OP 126
A1 Dam, Lammertjan 1977-
A1 Scholtens, Bert
A2 Scholtens, Bert
LA English
YR 2013
UL https://ixtheo.de/Record/1785649345
AB This study investigates how ownership concentration in European multinational firms is associated with these firms’ corporate social responsibility (CSR). We employ factor analysis on responsibility data from EIRiS and use a regression analysis. Using firm-level data for almost 700 European firms, we find that shareholder concentration is significantly related to such policies. That is, more concentrated ownership goes hand in hand with poorer CSR policies. In our analysis, we control for size, leverage, profitability, industry, and country of origin. We use several indicators for ownership concentration. We also find that with more concentrated ownership, CSR of the firm gets worse. We suggest that especially with large shareholders, CSR would need to be included in their performance assessment.
K1 Multinational enterprises
K1 Europe
K1 Corporate Social Responsibility
K1 Concentrated ownership
K1 Blockholders
DO 10.1007/s10551-012-1574-1