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Excess Control and Corporate Social Responsibility
[Exceso de control y responsabilidad social de las empresas]

Author

Listed:
  • Sabri Boubaker

    (EM Normandie Business School, Métis Lab)

  • Mohamed Firas Thraya

    (IDRAC Business school Lyon - Institut pour le Développement et la Recherche d'Action Commerciale - Université de Lyon)

  • Mohamed Zouaoui

    (CREGO - Centre de Recherche en Gestion des Organisations - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UB - Université de Bourgogne - UBFC - Université Bourgogne Franche-Comté [COMUE] - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE])

Abstract

Corporate social responsibility strategies depend on the ownership structure of the firm. This article examines the effect of the discrepancy between cash-flow rights and control rights (excess control) on corporate social responsibility (CSR). The analyses of a sample of French listed firms show that firms with excess control achieve significantly lower CSR performance than those without excess control. Family ownership increases the negative effect of excess control on CSR performance, while the presence of other major shareholders neutralizes this effect. Our results are robust to the use of multiple measures of excess control, CSR performance, and control for potential endogeneity issues.

Suggested Citation

  • Sabri Boubaker & Mohamed Firas Thraya & Mohamed Zouaoui, 2023. "Excess Control and Corporate Social Responsibility [Exceso de control y responsabilidad social de las empresas]," Post-Print hal-04474719, HAL.
    • Handle: RePEc:hal:journl:hal-04474719
    DOI: 10.7202/1098922ar
    as

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