CSR committee and firm value during the COVID-19 pandemic

• Yu-Lin Hsu ^[1] ; Ya-Ching Chu ^[2]
  1. [1] University of Strathclyde

     University of Strathclyde

     Reino Unido

     
  2. [2] National Cheng Kung University

     National Cheng Kung University

     Taiwán

     
• Localización: Economics and Business Letters, ISSN-e 2254-4380, Vol. 12, Nº. 2, 2023, págs. 137-146
• Idioma: inglés
• Enlaces
  • Texto completo (pdf)
• Resumen

  • This paper investigates whether the presence of CSR committees has a mitigating effect on firm value (measured by Tobin’s Q) during the COVID-19 pandemic. Analyzing UK listed firm data, we find that although the pandemic results in lower firm value, the presence of CSR committees helps to mitigate the negative impact of COVID-19 on firm value. The results suggest that the formation of CSR committees is not a symbolic impression management tool but an effective sustainability governance mechanism during the crisis. Our results should be helpful for regulators and companies in making decisions related to CSR committees.