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Corporate social responsibility (CSR) promotes society, reduces risk, and encourages ethical business practices. Due to its relevance, we study how CSR influences firms' sustainable development. We analyze data from 427 New York Stock Exchange (NYSE)-listed firms from 2008 to 2022. The Refinitiv environmental and social score is used to measure CSR, whereas for firms' sustainable development we rely on corporate sustainable growth rate (SGR) and market-based metrics. The analysis employs various econometric techniques, including ordinary least square, fixed effect regression, two-stage least square, generalized method of moment, and simultaneous quantile regression. The results indicate that CSR has a positive and significant effect on firms' sustainable development across all models. This relationship supports the notion that socially responsible business can contribute to long-term financial sustainability in line with “stakeholder theory”, indicating that companies should accommodate the concerns of various stakeholders, including society and the environment, to achieve sustainable development. We evaluate how the conditional distributions of SGR and firms’ value are affected by CSR, categorizing them into high, moderate, and low regimes. The quantile regression estimates indicate that the effect of CSR is more pronounced at upper quantiles, followed by moderate and low regimes. These findings underscore the importance of considering CSR in assessing the SGR and enterprises market value. We also confirm that our results are robust under range of different econometrics' methods. Finally, we enlighten current literature, and our research has useful policy implications for management and investors.

Corporate social responsibility (CSR) has gained great attention among regulators, stock market authorities, and firms' stakeholders for many decades. In this chapter, we first review the main regulations, standards, and laws issued by UAE federal authorities namely the Company Commercial Law of 2015, the Abu Dhabi Stock Exchange (ADX) disclosure guidance of 2019, Abu Dhabi Sustainability Week, and UAE CSR platform. Second, we present a summary of the empirical research on CSR issues in UAE context, namely in the following four fields: (1) CSR determinants both at the micro and macro levels, (2) CSR measures in the three pillars (environmental, social, and governance), (3) the impact of CSR policy and practices on financial performance/market value, (4) and the role of some mediating/moderating variables such as leadership and board gender diversity. Results show greater compliance to CSR standards among different industries and institutions but heterogenous empirical findings in the four explored fields. While there is crucial alignment with both social and environmental standards as evidenced by numerous empirical studies, additional efforts should be deployed to highlight the governance pillar through firms' discretionary reporting. Our survey provides useful directives and outcomes as it portrays both legal aspects coupled with some empirical evidence of CSR issues in the UAE context. Our study helps corporations to comply with local standards on sustainability reporting and highlights the potential economic benefits and advantages for firms adopting CSR strategy. Furthermore, it can be considered as the cornerstone for regulatory bodies in the United Arab Emirates when issuing/enhancing new standards/rules on CSR practices.

This study investigates the impact of corporate social responsibility (CSR) on corporate innovation. We selected the listed nonfinancial firms of South Asian Economies. The sample of the study comprised a total of 426 listed manufacturing firms of South Asian Countries for period spans 10 years from 2012 to 2021. In this study, descriptive statistics, multicollinearity diagnostic tests, correlation analysis and two-step dynamic panel system generalized method of moments (GMM) were applied to analyze the data. CSR measured with three proxies' social indicators, environmental indicators, and CSR composite index of social and environmental indicators. However, corporate innovation is captured with number of citations received in a year and number of patents filed in the year. Overall, findings of the study using all measures of CSR shows that CSR significantly and positively related with corporate innovation. Our results find support for CSR-innovation view with all measures of CSR. The findings suggest that the current study is helpful for managers, regulators, policymakers, and researchers. For managers, the study helps them to make the CSR and innovation decision. The policymakers should take appropriate innovative decision while considering factors such as CSR. This study can also be extended by considering this study for developed and emerging economies sample.

Corporate governance research suggests that board structure can impact organizational outcomes such as financial performance and executive remuneration. Agency theory posits that a board composed of independent directors and chaired by an independent chairperson can provide effective control over agency costs, while stewardship theory suggests that effective decision-making is facilitated when the board is chaired by the CEO and majority of directors are from the executive team. Empirical research into the association between board structure and performance in Jordan has provided mixed results, with no consensus supporting either theory. This study takes a different approach to researching the assumed association between board structure and performance by surveying directors’ perspectives on such assumed relationship between financial performance and four of boards’ characteristics (i.e., board independence, CEO duality, board size, and female ratio on board). Findings of this research indicate that Jordanian directors perceive a medium to strong association between financial performance and each of board independence, independent chair of board, and female ratio on board. However, directors of Jordanian boards perceive no association between financial performance and board size.

This chapter examines the connections between race and class divisions and examines how they shape racial inequities in the distribution of resources, power and privilege. Throughout history, racial identity has been a key factor in determining a person's position in modern capitalist societies. As such, issues of race and class have preoccupied sociologists and other scholars with diverse ideological orientations. This is highlighted in debates around the nexus of race and class in the production of racial structures, laws and institutions that legitimate and perpetuate the normalisation and centrality of whiteness. This chapter summarises some of the historical and ongoing debates, providing a synthesis of how race and class divisions continue to shape contemporary intergroup relations and social policy. It delves into racial capitalism and how race intersects with other social identities to determine socio-economic hierarchy in many western countries.

Introduction: Why companies pay dividends and the determinants of dividend policy are considered an unresolved dividend puzzle. To reach a consensus over the puzzle, researchers must investigate the factors affecting dividend policy by incorporating all the determinants into a single research effort.

Purpose: We examine the dividend policy determinants of Sri Lankan firms, explicitly focusing on the banking, finance, and insurance (BFI) sectors.

Methodology: This study uses the quantitative approach applying the Generalized Method of Moments (GMM) system to examine the dividend policy determinants by obtaining secondary data from 51 listed BFI organisations in Sri Lanka.

Findings: The analysis disclosed that the variables of changes in revenues, firm size, liquidity, corporate tax, business risk, and profitability have a positive relationship with dividend yield, whereas investment opportunities, leverage, change in revenues, corporate tax, and firm size impact positively on the propensity to pay dividends in BFI organisations in Sri Lanka. Our findings opine that managers in the BFI industries should prioritise changing their dividend policies by paying close attention to factors, such as dividend yield, changes in revenue, firm size, liquidity, corporate tax ratio, business risk, and profitability because the dividend policy is critical to retaining current investors and luring new ones.

This is an acceptable fact that firms put efforts to maximize shareholders wealth but there is growing demand that firms are also accountable to various stakeholders associated directly or indirectly with the firms' business activities. Investors now evaluate firm's performance not only from financial perspective but also consider environment, social, and governance (ESG) factors when taking investment decision. ESG is not visible in firm's annual financial reports but investors do not deny its significance when valuing firms. There are increasing interests in ESG by communities, professionals, and government bodies, and all are interested to keep it as part of firms' regular activity and have to relate it with firm performance and efficiency that affects firm value. Still, there are difficulties in integration of ESG factors into investment decision-making, but efforts are being put to overcome all the issues. Firms which consider ESG are in a good position to achieve their long-term financial goals as they are likely to attract capital, lower borrowing costs, mitigate risks, and maximize shareholders value.

This study aims to study the impact of corporate governance (CG) versus ethical investment on the firm performance. It takes into account the firms of Bangladesh, India, and Pakistan for the purpose of the study. A composite variable of CG index and environmental, social, and governance (ESG) index is used to test the impact on the firm performance. Separate country wise and overall analysis is obtained. Regression analysis is used to obtain the results. Two measures of performance are used, one is return on assets (ROA) and other is Tobin Q. The findings of the study reveal that there is an impact of corporate governance index (CGI) on firm performance (overall and country wise) whereas ethical investment (EI) has an impact on firm performance when tested overall and no impact when checked for country wise results. The results further show that on country level, increase in CG measures may lead to positive results, but at the macro level, it may lower the performance. On the other hand, at the micro level, ethical finance may not show its impact; however, at the macro level, it has an impact. The study has implications for the investors and policymakers.