OWNERSHIP STRUCTURE’S IMPACT ON CORPORATE SOCIAL PERFORMANCE IN DISSIMILAR INDUSTRY GROUPS: EVIDENCE FROM PAKISTAN
Keywords:Corporate social performance,, ownership structure, managerial ownership, agency theory, director independence
This paper investigates the mixed relations among ownership structure and corporate social responsibility in different non-financial industries across Pakistan. The OLS regression models are estimate using the data from 2011 to 2020 of Pakistani non-financial industries. Ownership structure including managerial ownership (MOWN) concentration ownership (COWN) and family ownership (FOWN) encourages corporate social responsibility (CSR) of organizations with social and environmental market capitalization risk coverage. Generally, the positive outcome of ownership structure is established in different non-financial industries at a combined level whereas investigates the firms with a whole market capitalization risk exposure. The detecting suggest that ownership structure can mitigate the market capitalization risk coverage non-financial industries in terms of relationship improving the CSR and the benefit can emerged with the addition of equal female director in family ownership firms (executive or independent) to the panel. This study also call attention to the ownership structure improves CSP in different non-financial industries with market capitalization risk coverage while performance so in industries with control risk coverage after accompaniment by independent director effects and critical mass effects.
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