Version 1
: Received: 11 October 2024 / Approved: 11 October 2024 / Online: 11 October 2024 (14:43:39 CEST)
How to cite:
Espino, L. C.; Mutuc, E. B. CSR and Financial Performance of Listed Firms in the Philippines. Preprints2024, 2024100947. https://doi.org/10.20944/preprints202410.0947.v1
Espino, L. C.; Mutuc, E. B. CSR and Financial Performance of Listed Firms in the Philippines. Preprints 2024, 2024100947. https://doi.org/10.20944/preprints202410.0947.v1
Espino, L. C.; Mutuc, E. B. CSR and Financial Performance of Listed Firms in the Philippines. Preprints2024, 2024100947. https://doi.org/10.20944/preprints202410.0947.v1
APA Style
Espino, L. C., & Mutuc, E. B. (2024). CSR and Financial Performance of Listed Firms in the Philippines. Preprints. https://doi.org/10.20944/preprints202410.0947.v1
Chicago/Turabian Style
Espino, L. C. and Eugene Burgos Mutuc. 2024 "CSR and Financial Performance of Listed Firms in the Philippines" Preprints. https://doi.org/10.20944/preprints202410.0947.v1
Abstract
The study explores the link between corporate social responsibility (CSR) and the financial performance of listed firms in the Philippines. This research used a longitudinal approach to investigate data from the Philippine Stock Exchange Index (PSEi) from 2019 to 2022. The environmental, social, and governance (ESG) framework assessed CSR performance, while financial performance was measured using return on equity and stock return. Firm profiles such as industry type, firm size, firm age, and auditor type were used as control variables. The researchers used firms' sustainability, annual, and governance reports as the primary data sources. The regression analysis results show insufficient data to support the idea that CSR performance affects the firm’s financial performance. It shows that only governance performance is positively correlated and significant with return on equity. Other components and overall CSR performance were found insignificant with return on equity and stock return. This study provides preliminary information on the link of CSR to the financial performance of listed firms in the Philippines. It extends the current literature on CSR performance and its link to financial performance in an emerging economy setting.
Keywords
CSR; ESG; financial performance; PSE; Philippines
Subject
Business, Economics and Management, Business and Management
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
