Does corporate reputation play a mediating role in the association between manufacturing companies' corporate social responsibility (CSR) and financial performance?

Zhang Jing; Gazi Md. Shakhawat Hossain; Badiuzzaman; Md. Shahinur Rahman; Najmul Hasan; Zhang Jing; Gazi Md. Shakhawat Hossain; Badiuzzaman; Md. Shahinur Rahman; Najmul Hasan

doi:10.3934/GF.2023010

Green Finance

2023, Volume 5, Issue 2: 240-264. doi: 10.3934/GF.2023010

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Research article

Does corporate reputation play a mediating role in the association between manufacturing companies' corporate social responsibility (CSR) and financial performance?

1.
School of Management (SoM), Huazhong University of Science and Technology (HUST), 1037 Luoyu Road, Wuhan, Hubei 430074, China
2.
Department of Business Administration, Faculty of Business and Economics, University of Global Village (UGV), Barishal-8200, Bangladesh
3.
Department of Economics and Sociology, Faculty of Business Administration, Patuakhali Science and Technology University (PSTU), Dumki-8602, Patuakhali, Bangladesh
4.
Department of Business Administration, School of Business, Northern University of Business and Technology (NUBT), Sonadanga-9100, Khulna, Bangladesh
5.
Department of Information Systems, BRAC Business School, BRAC University, Mohakhali, Dhaka-1212, Bangladesh

Received: 13 April 2023 Revised: 19 June 2023 Accepted: 20 June 2023 Published: 27 June 2023
JEL Codes: G19, L60, M10, M14, O14

The main objective of this research was to analyze the variable of corporate reputation as a mediating variable to determine the relationship between corporate social responsibility and financial performance. Simple random sampling was used in the study to obtain 300 respondents from Bangladeshi manufacturing companies. Statistical Package for the Social Sciences (SPSS) 23.0 was used to analyze the data. To evaluate the hypotheses in this study, structural equation modeling (SEM) was used. The results demonstrated that corporate social responsibility positively influences corporate reputation and financial performance, while corporate reputation is statistically significant for financial performance. Environmental contribution, philanthropic responsibility, legal responsibility, ethical responsibility, economic responsibility and social responsibility are listed in order of significance as corporate social responsibility factors. It was determined how corporate reputation influences the link between corporate social responsibility and financial performance. However, it may be logical to conclude that there is a considerable correlation between corporate social responsibility and financial performance based on the data analysis. The results of corporate social responsibility practices in manufacturing organizations in developing nations, particularly Bangladesh, have significant consequences for businesses, entrepreneurs, communities, researchers and policymakers in understanding the outcomes of sustainability. The conclusion has drawn implications for sustainability practice and future research.
- corporate social responsibility (CSR),
- financial performance (FP),
- manufacturing firm (MF),
- corporate reputation (CR)
Citation: Zhang Jing, Gazi Md. Shakhawat Hossain, Badiuzzaman, Md. Shahinur Rahman, Najmul Hasan. Does corporate reputation play a mediating role in the association between manufacturing companies' corporate social responsibility (CSR) and financial performance?[J]. Green Finance, 2023, 5(2): 240-264. doi: 10.3934/GF.2023010

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Abstract

The main objective of this research was to analyze the variable of corporate reputation as a mediating variable to determine the relationship between corporate social responsibility and financial performance. Simple random sampling was used in the study to obtain 300 respondents from Bangladeshi manufacturing companies. Statistical Package for the Social Sciences (SPSS) 23.0 was used to analyze the data. To evaluate the hypotheses in this study, structural equation modeling (SEM) was used. The results demonstrated that corporate social responsibility positively influences corporate reputation and financial performance, while corporate reputation is statistically significant for financial performance. Environmental contribution, philanthropic responsibility, legal responsibility, ethical responsibility, economic responsibility and social responsibility are listed in order of significance as corporate social responsibility factors. It was determined how corporate reputation influences the link between corporate social responsibility and financial performance. However, it may be logical to conclude that there is a considerable correlation between corporate social responsibility and financial performance based on the data analysis. The results of corporate social responsibility practices in manufacturing organizations in developing nations, particularly Bangladesh, have significant consequences for businesses, entrepreneurs, communities, researchers and policymakers in understanding the outcomes of sustainability. The conclusion has drawn implications for sustainability practice and future research.

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