Zombie Company and CSR Performance with Corporate Governance and Ownership as Moderator Variables
Muhammad Madyan(1), Nugroho Sasikirono(2*), Putri Maulidya(3)(1) Faculty of Economics and Business, Universitas Airlangga
(2) The Faculty of Economics and Business, Universitas Airlangga, Indonesia
(3) The Faculty of Economics and Business, Universitas Airlangga
(*) Corresponding Author
Abstract
Full Text:
PDFReferences
Abbott, L. J., Park, Y., & Parker, S. (2000). The Effects of Audit Committee Activity and Independence on Corporate Fraud. Managerial Finance, 26(11), 55–68.
Acharya, V. V., Eisert, T., & Hirsch, C. (2018). Whatever It Takes: The Real Effects Of Unconventional Monetary Policy.
Adnan, S. M., Hay, D., & Staden, C. J. V. (2018). The Influence Of Culture And Corporate Governance On Corporate Social Responsibility Disclosure: A Cross Country Analysis. Journal of Cleaner Production, 198, 820–832.
Ahearne, A. G., & Shinada, N. (2005). Zombie Firms and Economic Stagnation in Japan. International Economics and Economic Policy, 2(4), 363–381.
Banerjee, R., & Hoffman, B. (2018). The Rise of Zombie Firms: Causes and Consequences. BIS Quarterly Review, September, 67–77.
Barnea, A., & Rubin, A. (2010). Corporate Social Responsibility as a Conflict between Shareholders. Journal of Business Ethics, 97, 71–86.
Branco, M. C., & Rodrigues, L. L. (2006). Corporate Social Responsibility and Resource-Based Perspectives. Journal of Business Ethics, 69(2), 111–132.
Caballero, R. J., Hoshi, T., & Kashyap, A. K. (2008). Zombie Lending and Depressed Restructuring in Japan. The American Economic Review, 98(5), 1943–1977.
Cavanati, S. (2018). Corporate Social Performance in Family Firms: A Meta-Analysis. Journal of Family Business Management, 8(3), 235–273.
Chen, C. J. P., & Jaggi, B. (2000). Association between independent non-executive directors, family control and financial disclosures in Hong Kong. Journal of Accounting and Public Policy, 19(4–5), 285–310.
Chen, L., Feldmann, A., & Tang, O. (2015). The Relationship Between Disclosures Of Corporate Social Performance And Financial Performance: Evidences From GRI Reports In Manufacturing Industry. International Journal of Production Economics, 170, 445–456.
Chen, T., Dong, H., & Lin, C. (2020). Institutional Shareholders And Corporate Social Responsibility. Journal of Financial Economic, 135(2), 483–504.
Cucculelli, M., & Micucci, G. (2008). Family Succession And Firm Performance: Evidence From Italian Family Firms. Journal of Corporate Finance, 14, 17–31.
Dalton, D. R., Daily, C. M., Johnson, J. L., & Ellstrand, A. E. (1999). Number Of Directors and Financial Performance: A Meta Analysis. The Academy Of Management Journal, 42(6), 674–686.
Dyck, A., Lins, K. V., Roth, L., & Wagner, H. F. (2019). Do institutional investors drive corporate social responsibility? Journal of Financial Economics, 131(3), 693–714.
Freeman, R. E., & Reed, D. (1983). Stockholders And Stakeholders: A New Perspective On Corporate Governance. California Management Review, 25(3), 88–106.
Fukuda, J., & Nakamura, J. (2011). Why Did “Zombie” Firms Recover in Japan? The World Economy, 34(7), 1124–1137.
Ghoul, S. E., Guedhami, O., Kwok, C. C. Y., & Wang, H. H. (2016). Family Control And Corporate Social Responsibility. Journal of Banking and Finance, 73, 131–146.
Hackston, D., & Milne, M. J. (1996). Some determinants of social and environmental disclosures inNew Zealand companies. Accounting, Auditing & Accountability Journal, 9(1), 77–108.
Han, S., You, W., & Nan, S. (2018). Zombie Firms, External Support And Corporate Environmental Responsibility: Evidence From China. Journal of Cleaner Production, 212, 1499–1517.
Harrison, J. S., & Coombs, J. E. (2006). Financial Leverage and Social Performance. Academy of Management Proceedings, F1–F5.
Hoshi, T. (2006). Economics of the Living Dead. The Japanese Economic Review, 57(1), 30–49.
Hoshi, T., & Kim, Y. (2013). Macroprudential Policy and Zombie Lending in Korea,. Asian Bureau of Finance and Economic Research Conference.
Imai, K. (2016). Panel Study Of Zombie Smes In Japan: Identification, Borrowing And Investment Behavior. Journal of the Japanese and International Economies, 39(C), 91–107.
Jensen, M. C., & Meckling, W. H. (1976). Theory of The Firm: Managerial Behavior Agency Cost, And Ownership Structure. Journal of Financial Economics, 3, 305–360.
Kane, E. J. (1987). Dangers Of Capital Forbearance: The Case Of The FSLIC And “Zombie” S&Ls. Contemporary Economic Policy, 5(1), 77–83.
KNKG. (2006). Pedoman Umum Good Corporate Governance di Indonesia. Jakarta: Komite Nasional Kebijakan Governance (KNKG).
Lau, C., Lu, Y., & Liang, Q. (2014). Corporate Social Responsibility in China: a Corporate Governance Approach. Journal of Business Ethics, 136, 73–87.
Liao, L., Lin, T., & Zhang, Y. (2018). Corporate Board and Corporate Social Responsibility Assurance: Evidence from China. Journal Business Ethics, 150, 211–225.
Matolcsy, Z., Tyler, J., & Wells, P. (2012). Is Continuous Disclosure Associated with Board Independence? Australian Journal of Management, 37(1), 99–124.
Michelon, G., & Parbonetti, A. (2012). The effect of corporate governance on sustainability disclosure. Journal of Management & Governance, 16(3), 477–509.
Mohrman, M. B., & Stuerke, P. S. (2014). Shareowners’ Equity At Campbell Soup: How Can Equity Be Negative? Accounting Education: An International Journal, 23(4), 386–405.
Noguchi, T. (2019). Asian’s ‘Zombie’ Concentrated In India, Indonesia, And South Korea: Debt-Laden Companies Kept Alive By Easy Credit Have Doubled In Decade. Nikkei Asian Review, 1–6.
Papworth, T. (2013). The Trading Dead: The Zombie Firms Plaguing Britain’s Economy, And What To Do About Them. England.
Park, J., Lee, H., & Kim, C. (2014). Corporate Social Responsibilities, Consumer Trust, and Corporate Reputation: South Korean Consumer’s Perspective. Journal of Business Research, 67(3), 295–302.
Porter, M. E., & Kramer, M. R. (2006). Strategy and society: the link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12), 78–92.
Reeb, D. M., & Zhao, W. (2013). Director Capital and Corporate Disclosure Quality. Journal of Accounting and Public Policy, 17(6), 595–612.
Roberts, R. W. (1992). Determinants Of Corporate Social Responsibility Disclosure: An Application Of Stakeholder Theory. Accounting Organizations and Society, 17(6), 595–612.
Sembiring, E. R. (2005). Karakteristik perusahaan dan pengungkapan tanggung jawab sosial: Studi empiris pada perusahaan yang tercatat di Bursa Efek Jakarta. (Company characteristics and disclosures of social responsibility: Empirical study on company listed in Bursa Efek Jakarta). National Accounting Seminar. Solo, Indonesia.
Sudana, I. M., Sasikirono, N., Madyan, M., & Pramono, R. (2019). Dimensions of Corporate Social Responsibility and Market Performance: Evidence from Indonesia Stock Exchange. Asia Pasific Journal Of Business Review, 3(2), 1–25.
Tan, Y., Huang, Y., & Woo, W. T. (2016). Zombie Firms And The Crowding-Out Of Private Investment In China. Asian Economics Paper, 15(3), 32–55.
Turban, D. B., & Greening, D. W. (1997). Corporate Social Performance and Organizational Attractiveness to Prospective Employees. Academy of Management Journal, 40, 658–672.
Zubeltzu‐Jaka, E., Álvarez‐Etxeberria, I., & Ortas, E. (2020). The effect of the size of the board of directors on corporate social performance: A meta‐analytic approach. Corporate Social Responsibility and Environmental Management, 27(3), 1361–1374.
Article Metrics
Abstract view(s): 745 time(s)PDF: 861 time(s)
Refbacks
- There are currently no refbacks.