Purpose

This paper aims to assess the impact of corporate social irresponsibility (CSiR) media coverage on firm performance in India. It also analyses the effects of the environment, social, governance, and cross-cutting issues on firm performance.

Design/methodology/approach

The paper utilizes a sample of Indian firms from the Reprisk^® database, amounting to 1,103 CSiR media coverage counts for 693 firm-year annual observations from 2008 to 2015. Further, Reprisk^® segregates comprehensive CSiR coverage counts into the environment, social, governance and cross-cutting issues, for which the study runs the fixed effects panel regression. The study takes year-fixed effects, industry-fixed effects and clustered standard errors at the industry level.

Findings

The results of this study indicate that CSiR coverage negatively influences the firm performance of Indian firms. All issues, including social, governance and cross-cutting, except environmental issues, negatively impact firm value in India.

Practical implications

The involvement of firms in CSiR costs the firms financially and drives down firm performance. Social issues, including community and employee-related matters, governance issues and cross-cutting issues, also reduce the firm performance.

Social implications

The insignificant environmental impact on firm performance does not indicate that environmental issues have no detrimental consequences. Instead, it might need more stakeholders' awareness to understand the harmful implications of environmental issues on society.

Originality/value

Limited studies have explored CSiR in India so far. The study is novel as it analyses the Reprisk^® database and its segregation of media counts into the environment, social, governance and cross-cutting issues in the Indian context.

中文翻译：

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企业社会不责任媒体报道对企业绩效的影响

目的

本文旨在评估企业社会不责任（CSiR）媒体报道对印度企业绩效的影响。它还分析了环境、社会、治理和跨领域问题对公司绩效的影响。

设计/方法论/途径

^{本文利用Reprisk®}数据库中的印度公司样本，从 2008 年到 2015 年，对 693 个公司年度观察进行了 1,103 个 CSiR 媒体报道计数。此外，Reprisk®^将全面的 CSiR 报道计数分为环境、社会、治理和交叉问题，研究针对这些问题运行了固定效应面板回归。该研究采用了年份固定效应、行业固定效应和行业层面的集群标准误差。

发现

本研究的结果表明，CSiR 覆盖范围对印度公司的绩效产生负面影响。除环境问题外，所有问题，包括社会、治理和跨领域问题，都会对印度的企业价值产生负面影响。

实际影响

公司参与 CSiR 会给公司带来财务成本并降低公司绩效。社会问题，包括社区和员工相关问题、治理问题和跨领域问题，也会降低公司绩效。

社会影响

环境对企业绩效的影响微不足道，并不表明环境问题不会产生有害后果。相反，可能需要更多利益相关者的认识来了解环境问题对社会的有害影响。

原创性/价值

迄今为止，印度对 CSiR 的研究还很有限。这项研究很新颖，因为它分析了 Reprisk ^®数据库及其对印度背景下的环境、社会、治理和跨领域问题的媒体计数分类。