Corporate social responsibility in the relationship between accounting conservatism and investment efficiency

This research investigates how corporate social responsibility (CSR) affects the connection between accounting conservatism and investment efficiency. The study focuses on a sample of ۵۳۰ firms that are listed in the United States and covers the period from ۲۰۱۵ to ۲۰۱۹. We contribute to the literature by incorporating ESG performance scores to measure CSR, and by investigating the moderating effect of CSR on the conservatism-investment efficiency relationship. Our results show that environmental and governance metrics positively influence investment efficiency, while social performance indicators have a negative association. Moreover, the environmental performance indicator strengthens the relationship between conservative accounting and investment efficiency, while the governance indicator weakens this association. Overall, our study provides new insights into the interplay between conservative accounting, investment efficiency, and CSR and sheds light on the importance of considering CSR in investment decision-making.

کلیدواژه ها:

Corporate social responsibility ، ESG ، Accounting Conservatism ، Investment Efficiency