Hasan, Fakhrul (2021) Corporate social responsibility and agency cost: Evidence from the UK retail industry. International Journal of Research in Finance and Management, 4 (2). pp. 105-115. ISSN 2617-5754
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Abstract
This dissertation aims to evaluate corporate social responsibility (CSR) impacts on the UK listed
retailers' agency costs in 2016-2020 and is broken down into three main objectives – (1) describe the
UK listed retailers' CSR performance level, (2) test impacts of CSR on agency costs of these firms, and
(3) test the moderating role of industry for the CSR-agency costs relationship. By the application of the
regressions with fixed effects and robust standard error type, this study has revealed that in this period,
the UK listed retailers' CSR performance is at the moderate level on average. However, there is a large
dispersion in CSR performance among retailers. CSR of the UK listed retailers significantly reduced
their asset turnover (RTA), but it insignificantly affected selling and general administrative expenses
(SGAE) ratio. This study finds no moderating effects of firm size for UK-listed retailers' CSR - agency
costs relationship. Finally, this study offers several implications associated with CSR investment and
corporate governance mechanisms to shareholders and management of the UK-listed retailers and
academicians.
| Item Type: | Article |
|---|---|
| Keywords: | Agency costs, CSR, the UK, retail industry, retailers |
| Faculty / Department: | Faculty of Business, Law and Criminology > Liverpool Hope Business School |
| Depositing User: | Fakhrul Hasan |
| Date Deposited: | 05 Jan 2022 12:28 |
| Last Modified: | 05 Jan 2022 12:28 |
| URI: | https://hira.hope.ac.uk/id/eprint/3462 |
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