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Corporate Social Responsibility Practices and Economic Performance in Colombia: The Moderating Effect of Family Control

Author

Listed:
  • Juan Diego Alzate-G mez

    (CENTRUM Cat lica Business School, Pontificia Universidad Cat lica del Per , Lima, Per ,)

  • Di genes Lagos Cort s

    (INALDE Business School, Universidad de La Sabana, Ch a, Colombia,)

  • Percy Marquina Fieldman

    (CENTRUM Cat lica Business School, Pontificia Universidad Cat lica del Per , Lima, Per ,)

Abstract

The purpose of this descriptive-quantitative study was twofold. On the one hand, it seeks to determine the relationship between the implementation of CSR practices and economic performance. On the other, it seeks to identify the effect of family control on the CSR-Performance relationship. For this, we studied a sample of 55 companies listed on the stock exchange of Colombia during the period 2010-2017. The analysis was performed with multiple regression models estimated from the GMM method. Three findings are highlighted: (a) No evidence was found about a relationship between the family character and the adoption of CSR practices; (b) Evidence was found on a direct relationship between the adoption of CSR practices and economic performance; and (c) the family character does not influence the CSR-Performance relationship.

Suggested Citation

  • Juan Diego Alzate-G mez & Di genes Lagos Cort s & Percy Marquina Fieldman, 2020. "Corporate Social Responsibility Practices and Economic Performance in Colombia: The Moderating Effect of Family Control," International Journal of Economics and Financial Issues, Econjournals, vol. 10(1), pages 6-18.
    • Handle: RePEc:eco:journ1:2020-01-2
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    More about this item

    Keywords

    Family business; Corporate Social Responsibility; Economic Performance;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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