CSR Decoupling and Firm performance
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2023-07-10
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en
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This thesis explores the proposed negative relation between CSR decoupling and firm performance. Furthermore, in the second hypothesis, this study examines whether the relation between CSR decoupling and firm performance is moderated by Hofstede’s six cultural dimensions. CSR decoupling is described as the difference between the internal and external CSR-related actions that firms undertake. The sample of the study includes 1,621 firms from 48 different countries, covering a seven-year period from 2015 to 2021. To test the hypotheses a multilevel regression with random coefficients is used. As a result, the study shows that CSR decoupling and firm performance are indeed negatively related. After testing the second hypothesis, only two out of six cultural dimensions significantly moderate the relationship between CSR decoupling and Tobin´s Q, namely power distance, and masculinity. The moderating effects of the cultural dimensions are tested individually in the main analysis and simultaneously in the additional analysis. Furthermore, the study examines the influence of a 1-year lag, the sum of the internal and external actions, and the ESG scores of the firms. This study contributes to existing literature by providing evidence that CSR decoupling decreases firm performance and showing whether this relationship is moderated by cultural differences.
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Faculteit der Managementwetenschappen