Firm growth, business risk, and corporate social responsibility in Taiwan’s food industry

Shiu Wan Hung, Chiao Ming Li, Joe Ming Lee

Research output: Contribution to journalArticlepeer-review

5 Scopus citations

Abstract

This study applies the multiple-regime panel smooth transition regression (MR-PSTR) estimation to investigate the non-linear dynamic relationship between a firm’s corporate social responsibility (CSR) and firm growth in the food industry under the size threshold, using a panel of 30 Taiwanese food firms during 2007–2017. Our empirical results reveal that firm growth and firm size present a non-linear relationship, and that firm growth is different under the size threshold value and the control variables of firm age, CSR, R&D innovation, and finance policy. Corporate social responsibility helps reduce business risk. Regardless of the type and size, for many food industries, CSR is no longer an arbitrary choice, but an essential requirement.

Original languageEnglish
Pages (from-to)366-374
Number of pages9
JournalAgricultural Economics (Czech Republic)
Volume65
Issue number8
DOIs
StatePublished - 2019

Keywords

  • Finance policy
  • Firm size
  • Non-linear dynamic relationship
  • R&D innovation

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