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Institutional Cross-Ownership and Corporate Social Responsibility: Does Product Market Competition Matter?
[Propriété commune des investisseurs institutionnels et responsabilité sociétale des entreprises : la concurrence sur les marchés de produits est-elle importante ?]

Author

Listed:
  • Hamza Nizar

    (IHEC - Institut des hautes études commerciales (Carthage, Tunisie) - UCAR - Université de Carthage (Tunisie))

  • Taher Hamza

    (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School)

Abstract

This paper investigates the relationship between institutional cross-ownership and corporate social responsibility and whether product market competition moderates this relationship. Based on a sample of French firms over 2001-2015, we found that institutional cross-ownership positively affects corporate social responsibility. Our finding suggests that the monitoring experience gained by institutional cross-owners leads them to increase corporate social responsibility by fostering industry coordination between cross-owned firms. This positive effect is less likely in highly competitive product markets which advocates that competitive pressure may make industry coordination more difficult. Cross-owned firms may then prioritize maintaining a profitable margin over pursuing corporate social responsibility activities.

Suggested Citation

  • Hamza Nizar & Taher Hamza, 2024. "Institutional Cross-Ownership and Corporate Social Responsibility: Does Product Market Competition Matter? [Propriété commune des investisseurs institutionnels et responsabilité sociétale des entre," Post-Print hal-04980804, HAL.
    • Handle: RePEc:hal:journl:hal-04980804
    DOI: 10.59876/a-fyz8-05gk
    as

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