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When a label in corporate social responsibility creates value for shareholder in a developing country: the moroccan case
[Quand un label en responsabilité sociétale de l'entreprise crée la valeur pour l'actionnaire dans un pays en développement : le cas marocain]

Author

Listed:
  • Abdelkbir Elouidani

    (Faculté des Sciences Juridiques Économiques et Sociales d'Agadir)

  • Faical Zoubir

    (EST - École Supérieure de Technologie d'Agadir - Université Ibn Zohr [Agadir])

Abstract

This research is a review of the relationship between CSR (Corporate Social Responsibility of the Company) and CVA (Creation of shareholder value) in the context of a developing country (Developing Countries). By triangulation arguments Freidman, of McWilliams and Siegel and Freeman, we derive a hypothesis providing a non-monotonic relationship between CSR measured by obtaining the Moroccan label issued by CGEM (General Confederation of Enterprises of Morocco) CVA and operationalized by three steps are the EVA (Economic Value Added), EP (Economic Profit) and QTobin (Tobin's Q). A second methodological triangulation is performed by the combination of parametric and non-parametric econometric models to test the research hypothesis on the population of companies listed on the BVMC (Securities and Exchange Casablanca), 2006 to 2011. The results confirm the existence of a non-monotonic relationship between the two variables and raise the question of how a CSR label becomes a source of CVA in a developing country

Suggested Citation

  • Abdelkbir Elouidani & Faical Zoubir, 2017. "When a label in corporate social responsibility creates value for shareholder in a developing country: the moroccan case [Quand un label en responsabilité sociétale de l'entreprise crée la valeur p," Post-Print hal-02091539, HAL.
    • Handle: RePEc:hal:journl:hal-02091539
    Note: View the original document on HAL open archive server: https://hal.science/hal-02091539
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