CSR disclosure and financial access: a case study of Pakistan

This study aimed at examining the association of Corporate Social Responsibility (CSR) disclosure with access to finance by estimating the level of financial constraints faced by listed firms of the Pakistan Stock Exchange. CSR disclosure (CSRD) is attracting the attention of researchers and stakeho...

Full description

Bibliographic Details
Main Authors:	Anwar, Zeshan, Abbas, Kausar, Khan, Madiha, Abdul Razak, Dzuljastri
Format:	Article
Language:	English
Published:	Kulliyyah of Economics, International Islamic University Malaysia 2019
Subjects:	HG Finance
Online Access:	http://irep.iium.edu.my/73045/ http://irep.iium.edu.my/73045/ http://irep.iium.edu.my/73045/1/73045_CSR%20disclosure%20and%20financial%20access.pdf

id	iium-73045
recordtype	eprints
spelling	iium-730452019-07-09T08:42:31Z http://irep.iium.edu.my/73045/ CSR disclosure and financial access: a case study of Pakistan Anwar, Zeshan Abbas, Kausar Khan, Madiha Abdul Razak, Dzuljastri HG Finance This study aimed at examining the association of Corporate Social Responsibility (CSR) disclosure with access to finance by estimating the level of financial constraints faced by listed firms of the Pakistan Stock Exchange. CSR disclosure (CSRD) is attracting the attention of researchers and stakeholders and also becoming a vital source of competitiveness and information dissemination. Many businesses in Pakistan have developed the structure for CSR activities but the awareness of CSR concept and its disclosure is still limited in Pakistan. Panel data set has been used from annual reports of 55 non-financial companies listed on the Pakistan Stock Exchange during the period 2013 to 2017 to investigate the impact of CSRD on financial access of firms by estimating the level of capital constraints they faced. The results reveal a significant positive impact of CSRD on firm financial access; the firms with higher CSRD face fewer capital constraints, resulting in better financial access. This study contributes to existing CSR literature which highlights the vital role that capital markets play in assessing the potential for long-run value creation by firms adopting CSR strategies. This study further highlights the relationship between capital markets and socially responsible firms by focusing on the critical impact of CSRD on the firm’s capital constraints. It contributes to an emerging literature inside CSRD which highlights the vital role played by capital markets in assessing the potential for long-run value creation by firms adopting CSR strategies. This study further highlights the relationship between capital markets and socially responsible firms by focusing on the critical impact of CSRD on the firm’s capital constraints. It provides a better understanding of legitimacy and stakeholder theory which motivates firms for CSRD and also makes a significant methodological contribution to CSRD literature by developing the CSRD index. Kulliyyah of Economics, International Islamic University Malaysia 2019-06-29 Article PeerReviewed application/pdf en http://irep.iium.edu.my/73045/1/73045_CSR%20disclosure%20and%20financial%20access.pdf Anwar, Zeshan and Abbas, Kausar and Khan, Madiha and Abdul Razak, Dzuljastri (2019) CSR disclosure and financial access: a case study of Pakistan. International Journal of Economics, Management and Accounting, 27 (1). pp. 167-186. E-ISSN 2462-1420 https://journals.iium.edu.my/enmjournal/index.php/enmj/article/view/672/320
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG Finance
spellingShingle	HG Finance Anwar, Zeshan Abbas, Kausar Khan, Madiha Abdul Razak, Dzuljastri CSR disclosure and financial access: a case study of Pakistan
description	This study aimed at examining the association of Corporate Social Responsibility (CSR) disclosure with access to finance by estimating the level of financial constraints faced by listed firms of the Pakistan Stock Exchange. CSR disclosure (CSRD) is attracting the attention of researchers and stakeholders and also becoming a vital source of competitiveness and information dissemination. Many businesses in Pakistan have developed the structure for CSR activities but the awareness of CSR concept and its disclosure is still limited in Pakistan. Panel data set has been used from annual reports of 55 non-financial companies listed on the Pakistan Stock Exchange during the period 2013 to 2017 to investigate the impact of CSRD on financial access of firms by estimating the level of capital constraints they faced. The results reveal a significant positive impact of CSRD on firm financial access; the firms with higher CSRD face fewer capital constraints, resulting in better financial access. This study contributes to existing CSR literature which highlights the vital role that capital markets play in assessing the potential for long-run value creation by firms adopting CSR strategies. This study further highlights the relationship between capital markets and socially responsible firms by focusing on the critical impact of CSRD on the firm’s capital constraints. It contributes to an emerging literature inside CSRD which highlights the vital role played by capital markets in assessing the potential for long-run value creation by firms adopting CSR strategies. This study further highlights the relationship between capital markets and socially responsible firms by focusing on the critical impact of CSRD on the firm’s capital constraints. It provides a better understanding of legitimacy and stakeholder theory which motivates firms for CSRD and also makes a significant methodological contribution to CSRD literature by developing the CSRD index.
format	Article
author	Anwar, Zeshan Abbas, Kausar Khan, Madiha Abdul Razak, Dzuljastri
author_facet	Anwar, Zeshan Abbas, Kausar Khan, Madiha Abdul Razak, Dzuljastri
author_sort	Anwar, Zeshan
title	CSR disclosure and financial access: a case study of Pakistan
title_short	CSR disclosure and financial access: a case study of Pakistan
title_full	CSR disclosure and financial access: a case study of Pakistan
title_fullStr	CSR disclosure and financial access: a case study of Pakistan
title_full_unstemmed	CSR disclosure and financial access: a case study of Pakistan
title_sort	csr disclosure and financial access: a case study of pakistan
publisher	Kulliyyah of Economics, International Islamic University Malaysia
publishDate	2019
url	http://irep.iium.edu.my/73045/ http://irep.iium.edu.my/73045/ http://irep.iium.edu.my/73045/1/73045_CSR%20disclosure%20and%20financial%20access.pdf
first_indexed	2023-09-18T21:43:34Z
last_indexed	2023-09-18T21:43:34Z
_version_	1777413300380762112

CSR disclosure and financial access: a case study of Pakistan

Similar Items