Browsing by Author "Kuzey, Cemil"

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    Does investment stimulate or inhibit CSR transparency? The moderating role of CSR committee, board monitoring and CEO duality
    (Elsevier, 2023-02-18) Gerged, Ali Meftah; Kuzey, Cemil; Uyar, Ali; Karaman, Abdullah S.
    This study examined the potential relationship between different facets of firm investment (i.e., sales growth, R&D intensity, and total tangible and intangible assets) and CSR reporting, assurance and GRI adoption. Also, it further explored the conditions under which investing firms can encourage or discourage their CSR transparency. Our sample included 44,996 firm-year observations from 2004 to 2019 across 61 countries. Using a random-effects logistic model, our results indicate that corporate investments reduce firms’ CSR reporting and assurance tendency, which implies that a tradeoff exists between these two aspects of firm investment worldwide. Our moderation analysis outlined the contingent role of board-specific characteristics in the link between firm investment and CSR transparency. It appears that the CSR committee generates greater moderating effects on the firm investment–CSR transparency nexus than board monitoring and CEO duality. This empirical evidence also suggests several practical implications and future research agendas.
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    Research & Development Intensity, Environmental Performance, and Firm Value: Unravelling the Nexus in the Energy Sector Worldwide
    (Wiley, 2022-07-12) Uyar, Ali; Kuzey, Cemil; Gerged, Ali Meftah; Karaman, Abdullah S.
    The lack of a focused study on the nexus of research & development (R&D) intensity, eco-friendly practices, firm value in the energy sector, and the stakeholders' concerns for ecology motivated us to realize this study. The study sample covers the period from 2002 to 2019, resulting in 4,016 firm-year observations affiliated with 43 countries. The data were retrieved from the Thomson Reuters Eikon, and a country-year fixed-effects regression analysis was executed. Our empirical findings are threefold. First, the results show that energy firms’ R&D intensity spurs eco-friendly practices in three dimensions, namely resource consumption reduction, emissions reduction, and eco-innovation. Second, our study revealed that corporate environmental performance could induce greater firm value, implying a positive shareholders’ reaction to the environmental engagement. Third, moderation analysis revealed that while R&D intensity’s interaction with eco-innovation is value-enhancing, its interaction with resource consumption reduction and emissions reduction is not. The results are largely robust to alternative sampling, endogeneity concerns, and alternative variables measurements. The findings suggest implications for energy firms, R&D activities, and capital markets.