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Empirical Analysis of the Relation Between Expenditures on Employees’ Advanced Training and Financial Performance of Russian Companies

Author

Listed:
  • Andrey B. ANKUDINOV

    (Kazan Federal University)

  • Idelia R. BADYKOVA

    (Kazan National Research Technological University)

  • Yelena S. MARKHANOVA

    (Innopolis University)

Abstract

The study mainly aims to undertake empirical investigation of relation between social responsibility level as proxied by expenditures on employees’ advanced training and financial performance of the companies. The article provides a detailed review and systematization of empirical studies of the relationship between the policy of corporate social responsibility and the financial efficiency of companies. The methodological basis includes the theories of stakeholders and managerial opportunism, signaling theory, etc. Empirical analysis of balanced panel data using random effects and fixed effects models served as a methodological basis for the investigation. The sample comprises data covering the 2012–2015 period for 20 Russian publicly traded companies representing nonfinancial sectors of economy. Both models have failed to prove statistically significant relation between the chosen proxy variable of corporate social responsibility and financial performance indicators.

Suggested Citation

  • Andrey B. ANKUDINOV & Idelia R. BADYKOVA & Yelena S. MARKHANOVA, 2018. "Empirical Analysis of the Relation Between Expenditures on Employees’ Advanced Training and Financial Performance of Russian Companies," Upravlenets, Ural State University of Economics, vol. 9(4), pages 74-83, August.
    • Handle: RePEc:url:upravl:v:9:y:2018:i:4:p:74-83
    DOI: 10.29141/2073-1019-2018-9-4-8
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    References listed on IDEAS

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    1. Sandra A. Waddock & Samuel B. Graves, 1997. "The Corporate Social Performance–Financial Performance Link," Strategic Management Journal, Wiley Blackwell, vol. 18(4), pages 303-319, April.
    2. Maria-Gaia Soana, 2011. "The Relationship Between Corporate Social Performance and Corporate Financial Performance in the Banking Sector," Journal of Business Ethics, Springer, vol. 104(1), pages 133-148, November.
    3. Daniel Tschopp & Michael Nastanski, 2014. "The Harmonization and Convergence of Corporate Social Responsibility Reporting Standards," Journal of Business Ethics, Springer, vol. 125(1), pages 147-162, November.
    4. Waymond Rodgers & Hiu Choy & Andrés Guiral, 2013. "Do Investors Value a Firm’s Commitment to Social Activities?," Journal of Business Ethics, Springer, vol. 114(4), pages 607-623, June.
    5. Nan Sun & Aly Salama & Khaled Hussainey & Murya Habbash, 2010. "Corporate environmental disclosure, corporate governance and earnings management," Managerial Auditing Journal, Emerald Group Publishing, vol. 25(7), pages 679-700, July.
    6. David A Waldman & Mary Sully de Luque & Nathan Washburn & Robert J House & Bolanle Adetoun & Angel Barrasa & Mariya Bobina & Muzaffer Bodur & Yi-Jung Chen & Sukhendu Debbarma & Peter Dorfman & Rosemar, 2006. "Cultural and leadership predictors of corporate social responsibility values of top management: a GLOBE study of 15 countries," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 37(6), pages 823-837, November.
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    Cited by:

    1. Andrey B. Ankudinov & Idelia R. Badykova, 2020. "Empirical analysis of the relationship between the costs of corporate social responsibility policy implementation and Russian companies’ financial performance," Upravlenets, Ural State University of Economics, vol. 11(2), pages 16-26, April.

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    More about this item

    Keywords

    SOCIALLY RESPONSIBLE BEHAVIOUR; CORPORATE SOCIAL RESPONSIBILITY; RUSSIAN COMPANY; FINANCIAL EFFICIENCY; EMPIRICAL ANALYSIS; PANEL DATA;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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