THE RELATIONSHIP BETWEEN CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE OF INVESTORS AND THE FINANCIAL PERFORMANCE OF SHARIAH PUBLIC LISTED COMPANIES IN MALAYSIA, BEFORE, DURING, AND AFTER COVID-19: A CONCEPTUAL PAPER
DOI:
https://doi.org/10.24191/VoA.v20i2.11883Keywords:
corporate social responsibility disclosure), investors, financial performance, Shariah, stakeholder theoryAbstract
The objective of this paper is to propose the relationship between the corporate social responsibility disclosure (CSRD) of investors and the financial performance of the Shariah public listed companies in Malaysia. This paper examines the literature related to the relationship between the corporate social responsibility disclosure (CSRD) of investors and financial performance. This study is grounded on stakeholders’ theory. The dimensions of the three newly constructed CSRD investors were derived from the pilot test of ten selected companies’ annual reports for 2019. The paper proposes that there is a positive impact on CSRD investors’ dimension and financial performance of Shariah in Malaysia before, during, and after Covid-19. The Shariah public listed companies can best benefit from investors’ activities when it has a good reputation among major stakeholders. The stakeholders’ theory asserts the need for Shariah public listed companies for continuity in meeting stakeholders’ expectations in sustaining their social and financial performance during a crisis. This research contributes to the theoretical and practical contributions for future researchers to focus on more specific areas that will help to improve the financial performance of Shariah public listed companies. This paper adds to the body of corporate social responsibility literature by proposing the investors as one of the dimensions of corporate social responsibility disclosure of Shariah public listed companies in Malaysia.
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