Effect of Financial Indicators on Corporate Social Responsibility: Evidence from Emerging Economies
Bibliographic record
Abstract
The relationship between corporate social responsibility (CSR) and financial performance remains a subject of ongoing debate, particularly regarding the determinants of CSR in emerging economies. This study examines the effect of financial indicators on the level of corporate social responsibility. This study presents an integrated perspective to determine factors that can impact socially responsible behavior in developing and emerging countries. We drew our sample from 110 firms from 20 emerging economies from 2016 to 2020. We applied an instrumental variable estimation technique to address potential endogeneity and heterogeneity issues. The results revealed that financial performance is a weak determinant of socially responsible behavior in developing and emerging regions. Additionally, weak enforcement mechanisms and regulatory frameworks play a significant role in shaping CSR behaviors. Contrary to conventional assumptions, firms with higher organizational slack do not necessarily allocate additional resources toward CSR initiatives. This study contributes to the literature by providing empirical insights into the financial and institutional drivers of CSR in emerging markets and offers implications for policymakers, regulators, and corporate decision-makers aiming to enhance socially responsible business practices.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.004 | 0.005 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.001 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.001 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".