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Evidence from multiple countries: does investment into internal corporate social responsibility improve firm efficiency?

Author

Listed:
  • Arum Setyowati
  • Peter Wanke
  • Fakarudin Kamarudin
  • A. N. Bany-Ariffin
  • Bolaji Tunde Matemilola

Abstract

This paper investigates the relationship between internal corporate social responsibility (ICSR) and firm efficiency. Our research employed a two-stage analysis of 33,413 firm-year observations from between 2008 and 2020. First, we measured the level of firm efficiency using data envelopment analysis (DEA). Second, we used panel regression to investigate the impact of investments made by firms into ICSR on their efficiency. Our results showed that such investments into ICSR (e.g. on employee development) increased firm efficiency during the study period.

Suggested Citation

  • Arum Setyowati & Peter Wanke & Fakarudin Kamarudin & A. N. Bany-Ariffin & Bolaji Tunde Matemilola, 2024. "Evidence from multiple countries: does investment into internal corporate social responsibility improve firm efficiency?," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 14(2), pages 444-448, April.
    • Handle: RePEc:taf:jsustf:v:14:y:2024:i:2:p:444-448
    DOI: 10.1080/20430795.2021.2016362
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