Corporate social responsibility performance, financial distress and firm life cycle: Evidence from Australia
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Authors
Al-Hadi, A.
Chatterjee, B.
Yaftian, A.
Taylor, Grantley
Monzur Hasan, M.
Date
2017Type
Journal Article
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Al-Hadi, A. and Chatterjee, B. and Yaftian, A. and Taylor, G. and Monzur Hasan, M. 2017. Corporate social responsibility performance, financial distress and firm life cycle: Evidence from Australia. Accounting and Finance.
Source Title
Accounting and Finance
ISSN
School
School of Accounting
Collection
Abstract
This study examines the association between corporate social responsibility (CSR) performance and financial distress and additionally the moderating impact of firm life cycle stages on that association. Based on a sample of 651 publicly listed Australian firm-years' data covering the 2007-2013 period, our regression results show that positive CSR activity significantly reduces financial distress of the firm. In addition, the negative association between positive CSR performance and financial distress is more pronounced for firms in mature life cycle stages. Our results are robust to alternative proxy measures of financial distress, CSR performance and life cycle stages.
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