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Does manager's opportunistic motive moderate the relationship between CSR disclosure and firm's market value of equity? Study on the listed banking companies in the Dhaka stock exchange

Despite the growing prevalence of CSR disclosure, it is unclear what fundamental importance the market places on it. Previous literature has also shown attention to whether those organizations with more outstanding CSR disclosure scores are more Market Value of Equity (MVE) by market respondents. Em...

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Main Authors: Rahman, Mashiur, Abdul Rasid, Siti Zaleha
Format: Article
Published: AESS Publications 2021
Subjects:
HB Economic Theory
HD Industries. Land use. Labor
HG Finance
Online Access:http://eprints.utm.my/id/eprint/97600/
http://dx.doi.org/10.18488/journal.1006.2021.111.33.45
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spelling my.utm.976002022-10-21T01:08:07Z http://eprints.utm.my/id/eprint/97600/ Does manager's opportunistic motive moderate the relationship between CSR disclosure and firm's market value of equity? Study on the listed banking companies in the Dhaka stock exchange Rahman, Mashiur Abdul Rasid, Siti Zaleha HB Economic Theory HD Industries. Land use. Labor HG Finance Despite the growing prevalence of CSR disclosure, it is unclear what fundamental importance the market places on it. Previous literature has also shown attention to whether those organizations with more outstanding CSR disclosure scores are more Market Value of Equity (MVE) by market respondents. Empirical confirmation, nonetheless, delivers inconclusive outcomes concerning the path of these associations. This study aims to convey onward the standing research accomplishments and fill the research gaps that encompass examining the possible relationship between CSRD and MVE and the moderating effect of discretionary loan loss provisions (DLLP) to observe the right direction in this inconclusive relationship. Also, through a generalized valuation framework stimulated by Ohlson, this research examines whether CSRD is value relevant and, especially, the moderating effect of DLLP on this association. This study is based on a sample of 30 firm-year observations using cross-sectional data methodology for an example of Bangladeshi listed banking companies (both conventional and Islamic perspective) of the Dhaka Stock Exchange (DSE) over the year 2019. Regarding DLLP, this study investigates earnings aggressiveness through loan loss provisions. More importantly, this study measure CSR disclosure by developing a CSR Disclosure index based on prior studies on CSR and global reporting initiatives (GRI) guidelines. This study's expected finding anticipated that CSR reports could positively affect the stock price, and DLLP may negatively affect this association's direction. Our results could have several ramifications for financial institutions, investors, and policymakers. AESS Publications 2021 Article PeerReviewed Rahman, Mashiur and Abdul Rasid, Siti Zaleha (2021) Does manager's opportunistic motive moderate the relationship between CSR disclosure and firm's market value of equity? Study on the listed banking companies in the Dhaka stock exchange. Journal of Asian Business Strategy, 11 (1). pp. 33-45. ISSN 2309-8295 http://dx.doi.org/10.18488/journal.1006.2021.111.33.45 DOI:10.18488/journal.1006.2021.111.33.45
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
topic HB Economic Theory
HD Industries. Land use. Labor
HG Finance
spellingShingle HB Economic Theory
HD Industries. Land use. Labor
HG Finance
Rahman, Mashiur
Abdul Rasid, Siti Zaleha
Does manager's opportunistic motive moderate the relationship between CSR disclosure and firm's market value of equity? Study on the listed banking companies in the Dhaka stock exchange
description Despite the growing prevalence of CSR disclosure, it is unclear what fundamental importance the market places on it. Previous literature has also shown attention to whether those organizations with more outstanding CSR disclosure scores are more Market Value of Equity (MVE) by market respondents. Empirical confirmation, nonetheless, delivers inconclusive outcomes concerning the path of these associations. This study aims to convey onward the standing research accomplishments and fill the research gaps that encompass examining the possible relationship between CSRD and MVE and the moderating effect of discretionary loan loss provisions (DLLP) to observe the right direction in this inconclusive relationship. Also, through a generalized valuation framework stimulated by Ohlson, this research examines whether CSRD is value relevant and, especially, the moderating effect of DLLP on this association. This study is based on a sample of 30 firm-year observations using cross-sectional data methodology for an example of Bangladeshi listed banking companies (both conventional and Islamic perspective) of the Dhaka Stock Exchange (DSE) over the year 2019. Regarding DLLP, this study investigates earnings aggressiveness through loan loss provisions. More importantly, this study measure CSR disclosure by developing a CSR Disclosure index based on prior studies on CSR and global reporting initiatives (GRI) guidelines. This study's expected finding anticipated that CSR reports could positively affect the stock price, and DLLP may negatively affect this association's direction. Our results could have several ramifications for financial institutions, investors, and policymakers.
format Article
author Rahman, Mashiur
Abdul Rasid, Siti Zaleha
author_facet Rahman, Mashiur
Abdul Rasid, Siti Zaleha
author_sort Rahman, Mashiur
title Does manager's opportunistic motive moderate the relationship between CSR disclosure and firm's market value of equity? Study on the listed banking companies in the Dhaka stock exchange
title_short Does manager's opportunistic motive moderate the relationship between CSR disclosure and firm's market value of equity? Study on the listed banking companies in the Dhaka stock exchange
title_full Does manager's opportunistic motive moderate the relationship between CSR disclosure and firm's market value of equity? Study on the listed banking companies in the Dhaka stock exchange
title_fullStr Does manager's opportunistic motive moderate the relationship between CSR disclosure and firm's market value of equity? Study on the listed banking companies in the Dhaka stock exchange
title_full_unstemmed Does manager's opportunistic motive moderate the relationship between CSR disclosure and firm's market value of equity? Study on the listed banking companies in the Dhaka stock exchange
title_sort does manager's opportunistic motive moderate the relationship between csr disclosure and firm's market value of equity? study on the listed banking companies in the dhaka stock exchange
publisher AESS Publications
publishDate 2021
url http://eprints.utm.my/id/eprint/97600/
http://dx.doi.org/10.18488/journal.1006.2021.111.33.45
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score 13.211869

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