Effect of Corporate Social Responsibility on Financial Performance of Financial Institution in Malaysia - Free Essay Example

Sample details Pages: 5 Words: 1405 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Effect of Corporate Social Responsibility on Financial Performance of Financial Institution in Malaysia Background of the study Corporate Social Responsibility (CSR) disclosure in Annual Report has been debated for a long time. Survey done by KPMG in 2013 show that 71 per cent of the 4100 companies undertake CSR reporting in the business practice. Furthermore, among the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s largest 250 companies, the CSR reporting rate is more or less stable at 93 per cent. Don’t waste time! Our writers will create an original "Effect of Corporate Social Responsibility on Financial Performance of Financial Institution in Malaysia" essay for you Create order The issue on CSR reporting is undeniable, however the question now is on the quality of the report itself and how the information be honestly communicated to stakeholders (M.-W. Wu, C.-H. Shen, 2013). Financial institution especially banks play an important role in economic development because its safety and soundness create several external benefits to society. By using substantial resources from society, banks are required to provide feedback to the community more often that other industries. For example, bank assets may mainly come from depositors. Therefore, as bank employ public resources paid for by society, they are highly scrutinize by the media, government and academician regarding their CSR activities. Prior study proved that CSR practices can be considered as effort to enhance the  ¬Ãƒâ€šÃ‚ nancial performance (FP) of PLCs in Malaysia (Mustaruddin, Norhayah and Rusnah, 2011). Keywords: Corporate social responsibility CSR), Financial Performance (FP), Finan cial Institution (FI) Problem statement Purpose: The current study purpose is to examine the CSR disclosure in Annual Report of the Financial Institution (FI) and to study the relationship between CSR with financial performance (FP) of the FI. Research questions: To what extend the CSR disclosure of FI? What is the relationship of CSR to FP of FI? Literature review Corporate responsibility is replacing corporate social responsibility as an increasingly important factor in how people regard the corporate reputation of organisations (Worcester, 2009). One way to incorporate CSR with modern banking theories is to relate it to the role of bank reputation. Thus companies use CSR to increase customer loyalty and build reputation. Accordingly, banks conducting CSR can attract more loans and deposits than non-CSR banks because CSR creates a brand name and a sense of identity among the customers (M.-W. Wu, C.-H. Shen, 2013). CSR must be appreciated as a set of actions that companies manage with harmony, when stakeholders have good responses to their CSR practices. The positive relation of CSR information towards CFP indicates that companies could increase their external reputation (Mustaruddin et al. (2011). Furthermore, CSR also been viewed as the continuing commitment by business to behave ethically and to contribute to economic development while improving the quality of life of the workforce and their families (Md Zabid Abdul and Saadiatul Ibrahim, 2002). Research Design CSR Measurement CSR will be the independent variable in the current study. A disclosure-scoring methodology will be adapted in the current study. It will be based on the content analysis. The content in CSR disclosure will be scored and the items selected will be categorised into four indicators which are employee relations, community involvement, product dimension, and environmental dimension. There will be sub-item in each category and it will be scored accordingly . List of CSR items: Employee relation: Employee health and safety. Training and education. Employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ bene ¬Ãƒâ€šÃ‚ ts. Employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ pro ¬Ãƒâ€šÃ‚ le. Share option for employees. Health and safety award. Community involvement: Cash donation program. Charity program. Scholarship program. Sponsor for sport activities. Supporting national pride. Public project. Product: Product development. Product safety. Product quality. Customer services. Environment: Pollution control. Prevention or reparation program. Conservation and recycled materials. Award in environment program. There will be three quality of classification for disclosing value for each item. Each item disclosed will be assign accordingly. (1) Quantitative disclosure classi ¬Ãƒâ€šÃ‚ cation. This classi ¬Ãƒâ€šÃ‚ cation refers to the greatest weight which has an assigned value of 3. It classifies as the  ¬Ãƒâ€šÃ‚ nancial disclosures. For instance, the CSR practices disclosed in the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s annual report are as follows: To promote access to healthcare, Maybank Islamic has made a five-year commitment via the Maybank Foundation to contribute RM1.7 million to Institut Jantung Negaraà ¢Ã¢â€š ¬Ã¢â€ž ¢s new Regional Paediatric Heart centre. This contribution not only provides support in terms of much-needed medical equipment but also assists in subsidising medical expenses for patients from low-income backgrounds. Since 2012, this collaboration has helped 30 children from around the region (Maybank Annual Report, 2013 pg 125). (2) Qualitative spe ci ¬Ãƒâ€šÃ‚ c disclosure classi ¬Ãƒâ€šÃ‚ cation. This classi ¬Ãƒâ€šÃ‚ cation refers to the next highest weight which is the non-quantitative disclosing but with particular information and it has an assigned value of 2. It classify as the non- ¬Ãƒâ€šÃ‚ nancial disclosures. For instance, the CSR practices which are disclosed in the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s annual report are as follows: The Group places strong emphasis on child safety and we uphold this diligently through our Missing Children Reuniting Families initiative which aims to ensure missing children are reunited with their families. The programme was launched in 2007 in partnership with Polis DiRaja Malaysia (à ¢Ã¢â€š ¬Ã…“PDRMà ¢Ã¢â€š ¬Ã‚ ) and offers an alternative channel of communication for members of the public to help locate missing children (RHB Banking Group Corporate Responsibility Report 2013 pg 11). (3) Qualitative non-speci ¬Ãƒâ€šÃ‚ c disclosure classi ¬  cation. This classi ¬Ãƒâ€šÃ‚ cation refers to the lowest weighted value due to its qualitative disclosing in which the description is in general, thus it is assigned as the quantitative value of 1. It classify as non- ¬Ãƒâ€šÃ‚ nancial disclosures. For example, the CSR practices which are disclosed in the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s annual report are as follows: Public Bank Group has always displayed a readiness to invest in its staff right from the onset of their career with the Group, equipping them with knowledge, skills, and attitudes that will enable them to make their mark in the organization. Strong induction and orientation programmes are among the training lined up for staff from day one to inculcate the right corporate values and a sense of belonging (Public Bank Berhad, 2005, p. 171). Companies that do not disclose any kind of information for the given categorises obtain a score of 0. Financial performance Measurement Accounting variable s use in the current study to assess the financial performance(FP) will be return on assets (ROA), return on equity (ROE) and return on sales .These are the dependent variables in the current study. Hypothesis development The first objective of the current study is to examine CSR disclosure in Annual Report of the Financial Institution (FI) H1. CSR will be positive, signi ¬Ãƒâ€šÃ‚ cantly related to FP The second objective is to study the relationship between CSR with financial performance of the FI. Based on the CSR items therefore create the four hypotheses below: H2. There is a positive relationship between employee relations dimension and FP. H3. There is a positive relationship between community involvement dimension and FP. H4. There is a positive relationship between product dimension and FP. H5. There is a positive relationship between environment dimension and FP. Data Sources This study will examine financial institution listed on main market of Bursa Malaysia and licensed with Bank Negara Malaysia (BNM). The research period is 5 years which covered from 2010 to 2014. The data will be collected from annual report of each company which will be downloaded from the Bursa Malaysia website. Companiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ annual reports constitute the main data for the current study and were chosen because the annual report is the primary source of CSR disclosure, and, in Malaysia, annual reports of listed companies are the most accessible source of information, either in hard copies or electronic formats. Conclusions Although the issue on CSR has been debated for a long time and be studied by many academicians and researchers, the current study aims to look on the quality of the CSR disclosure. It is because the question on whether to disclose or not is not a matter anymore. Last but not least, the relationship between CSR and FP of financial institution need to be closely study. The extent of the study could be the motives behind the CSR activities. References The KPMG Survey of Corporate Responsibility Reporting (2013), KPMG InternatIonal Md Zabid AbdulSaadiatul Ibrahim, (2002),Executive and management attitudes towards corporate social responsibility in Malaysia, Corporate Governance: The international journal of business in society, Vol. 2 Iss 4 pp. 10 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 16 M.-W. Wu, C.-H. Shen, (2013) à ¢Ã¢â€š ¬Ã…“Corporate social responsibility in the banking industry: Motives and financial performanceà ¢Ã¢â€š ¬Ã‚ , Journal of Banking Finance, 37 3529à ¢Ã¢â€š ¬Ã¢â‚¬Å"3547 Mustaruddin Saleh Norhayah Zulkifli Rusnah Muhamad, (2011),Looking for evidence of the relationship between corporate social responsibility and corporate financial performance in an emerging market, Asia- Pacific Journal of Business Administration, Vol. 3 Iss 2 pp. 165 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 190 Sir Robert Worcester, (2009),Reflections on corporate reputations, Management Decision, Vol. 47 Iss 4 pp. 573 589 1

Claude Monet s The Impressionist Era - 984 Words

Born in Paris in 1840, Claude Monet would later become a leading artist in the Impressionist era. At a young age, Monet had a passion for nature and art and in 1859, Monet began to study art in Paris. Here he met many artists such as Bazille, Sisley, and Renoir. Monet practiced painting en plein air or moving from inside the studios to painting outside in the open. Embodying the Impressionist era in 1873, Monet painted Impression, Sunrise†, showing many characteristics that define Impressionism and Monet s painting style (Figure 1). The painting shows lax, bold, and precise brush strokes moving away from the previously blended and even style of earlier eras. Monet uses; cool purples, blues, bright oranges, and yellows show the effect of the natural light and capture the moment and the feeling of the sunrise. In later years, Monet focused mostly on landscapes which, today are notably Monet s most famous works. Pierre-Auguste Renoir was born in France in 1841 and like Monet was also a leading artist in the Impressionist art movement. After moving to Paris between 1844 to 1846, Renoir began working as a porcelain painter -- painting designs onto dishes and china. In 1862, Renoir started studying art in Paris and here he met Claude Monet, as well as Bazille and Sisley (). Similar to Monet, Renoir also practiced en plein air. In Renoir s early works, he would paint figures, mostly women, and used bright colors with short disconnected brush strokes. Renoir s Dance at leShow MoreRelatedClaude Monet And Pierre Auguste Renoir1302 Words   |  6 Pagesin life, Claude Monet and Pierre-Auguste Renoir were both aspiring artists with similar passion and style. Early in their careers, both artists painted alongside each other on the Seine River. These paintings, while not their most famous pieces, can be compared and contrasted against one another due to the similarity of the scene. 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Robert Frost

Robert Frost-The road not taken Essay http://www.english.uiuc.edu/maps/poets/a_f/frost/life.htm Life has many roads you can take and its which ones you choose to follow that will shape your future forever. That is what I always take from this great Frost poem. He sees two roads both being equally appealing, but selects the one less traveled and how it makes his life unique. This poem is one of few that I do care for myself. It shows a man whose come to a point in his life where he has to decide what he will do with it. This is a point in our lives that everyone will come to and a somewhat difficult challenge for many. We have the many options ahead of us and must try and look ahead to what will come to decide our future. And be one traveler, long I stood and looked down one as far as I could. I think this was a time in Frosts life when he had just moved to London and was looking back at the choices he had made. He quit trying the Derry farm and sold it and moved to London to write. This was an awfully risky thing to do at this point with a wife and kids, but it shows his approval in retrospect. Then took the other, just as fair, and having perhaps the better claim, because it was grassy and wanted wear. This shows that he choose a path that many choose to not to. He selected a harder path in life that could have been a devastating mistake given his situation in life. The easy road would have been more secure and he would have had less to worry about, but he probably wouldnt have enjoyed life as much. And both that morning had equally lay In leaves no step had trodden black. Oh, I kept the first for another day! This is the part of the poem I myself have always had a slight confusion with, but have taken it that it is supposed to show his selection of the more difficult path and how he would return to it later in life and try the other path. The thing that confuses me about this section of the poem is the next line. Yet knowing how way leads on to way, I doubted if I should ever come back. This to me shows that he wants to return and try different things in life, but knows once he has chosen a road trying a different one is quiet difficult. He selected the difficult road in life of being an author rather then to run the farm or to teach. I believe this is he missed teaching or even wanting to reattempt trying to be a Derry farmer since he was less then spectacular at that. I shall be saying this with a sigh somewhere ages and ages hence: it shows here that even though he did want to return to try a different path in life he was already deeply engulfed in the path he selected and was unable to ever return. Two roads diverged in a wood, and II took the road less traveled by, And it has made all the difference. To me this shows that even though the road he you want to take in life may be the more difficult path it very well be all that more rewarding. You can take the path worn by many or burn yours into the ground is the way Ive always believed. He selected the road less traveled and made a path for himself in life he possibly did lose his way to the other path, but his life was a greater to success to himself. .

The Mysterious Banana Essay Example

The Mysterious Banana Paper Banana Symbolism The Mysterious Banana Included in many literary works are objects, which may seem meaningless, contributing to the theme of the work. In Samuel Beckett’s â€Å"Krapp’s Last Tape†, a dramatic work which falls into the category of Theatre of the Absurd, the banana is a discreet object which eludes to the meaning behind why Krapp chose that particular event to listen to while recording his last diary tape. Sigmund Freud’s theory of wish fulfillment suggests that a banana represents repressed sexuality which can be linked to the event on the tape marked â€Å"Box Three, Spool Five†. Psychologist Sigmund Freud believed that who a person is and how he/she acts stems from the workings of their subconscious; this is known as the psychodynamic approach to psychology (Santrock and Mitterer 11). Through the psychodynamic approach, Freud developed his theory of wish fulfillment. Freud believed that the reason why people have dreams is so that their subconscious can express feelings and desires that they may not be aware they have, or are not able to act out while awake. In wish fulfillment there is manifest content which is the object that a person dreams of and latent content which is the symbolism behind the object they dream of (Santrock and Mitterer 235). The type of theatre which â€Å"Krapp’s Last Tape† is classified in is known as the Theatre of the Absurd. Theatre of the Absurd is a form of comedic drama which portrays the often meaninglessness of life. Plays of this nature usually do not display a direct plot and are usually repetitious such as every day life is (Kirszner, Mandell, and Fertile 920). We will write a custom essay sample on The Mysterious Banana specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Mysterious Banana specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Mysterious Banana specifically for you FOR ONLY $16.38 $13.9/page Hire Writer With using this form of comedic drama Samuel Beckett is able to portray the life of Krapp in a dream-like state, with a dark stage, cluttered desk, only one actor, and no direction of where the play is going. When looking at â€Å"Krapp’s Last Tape† as if it were set in a state of dreams it can be seen that an object in the play may have more meaning than what is originally thought to have. In dreams all objects and occurrences are thought to have a meaning other than what is seen at face value. It is thought that, in dreams, a banana represents the repression of sexuality. Not only does it represent the repression of sexual urges but of phallic sexuality (â€Å"Banana†). It is thought that if bananas are seen in one’s dream then â€Å"your hard work will be met with little reward and gains† (â€Å"Banana†). In â€Å"Krapp’s Last Tape† the elderly man Krapp is listening to a diary tape representing his early years. On the tape marked â€Å"Box Three, Spool Five†, a younger version of Krapp relays an event in which he finds himself on a boat with an unknown woman. While before he searches for the tape, Krapp unlocks a drawer, pulls out a banana, and eats it. Shortly after the tape starts to play the younger Krapp says â€Å"Have just eaten I regret to say three bananas and only with difficulty refrained from a fourth. Fatal things for a man with my condition† (Beckett 1370); as Krapp consumes specifically a banana before both recording the tape originally and listening to it years later suggests that the banana does have more of a meaning to him other then just nutrition. There are two meanings behind the presence of a banana in a dream: repressed sexuality and the representation of failed work. Both of these meanings can be seen in â€Å"Krapp’s Last Tape†. When the tape of spool five is played, a younger version of Krapp discloses that he has consumed several bananas before starting the recording. The recording that he makes is of a sexual encounter that had occurred at some time that year. The presence of a banana at this point in the play suggests that as he was remembering the event, before he started recording, he was trying to suppress his urges. It can be seen that he represses by covering up his emotion as while he relays the story he places a lot of emphasis on the scratches he sees on the woman’s leg and that he attributes them to her unfaithfulness. The fact that although the woman gives a viable explanation for the scratches, at the time of the recording, he refuses to believe which suggests that he is coming up with reasons to discredit her which may help him deal with how the relationship ended. The possibility that he is trying to discredit her ties into the second meaning behind why a banana is present in a dream. The banana is seen to imply that one’s hard work will be poorly rewarded. Towards the end of the play Krapp consumes yet another banana and begins to record a new tape, his last tape, to reflect on the views of a younger version of himself. Krapp had rewound the tape to listen to a younger Krapp’s interpretation of the scratches on the woman’s leg. During his new recording it is implied that Krapp may have ended the relationship to pursue a business endeavor when he says â€Å"seventeen copies sold, of which eleven at trade price to free circulating libraries beyond the seas† (Beckett 1373). This statement implies that he had tried to find success as a writer but failed. Moments later on the tape Krapp further justifies the presence of the banana. As he continues his recording he starts to wonder aloud â€Å"Could have been happy with her, up there on the Baltic, and the pines, and the dunes. (Pause). Could I? (Pause). And she? † (Beckett 1374). It is this thought that bring him to speak of a woman named Fanny who wonders how he manages ‘it’ at his age which may be interpreted by the reader that he is, to some extent, still sexually active. If that were the case, and he is not lacking the physical aspect of sex, it further implies that the banana represents the repressed sexuality from his lost love. It is at this moment, at the end of the play, which Krapp seems to have come to realize what his choices have brought him. There is a feeling of sadness as he rewinds the tape to listen to the event of the tape one last time and continues to sit after the recording has ended. The play comes full circle at the end with a saddened Krapp; an elderly man who looks back on his choices in life regretfully repressing the memories with bananas. Although â€Å"Krapp’s Last Tape† is indeed a play occurring in the awakened state of Krapp, and not a dream, Freud’s psychodynamic approach can still be applied to explain the value of the banana. Samuel Beckett’s use of the Theatre of the Absurd allows for the play to be seen in a dream-like state. While to Krapp the banana is just a piece of fruit that he feels is not good for his health, the reader is able to see, using Freud’s wish fulfillment, that the banana is a symbol of his repressed sexuality, built up from his lost love; love he gave up to try his luck in business. Works Consulted Beckett, Samuel. â€Å"Krapp’s Last Tape. † 1960. Literature: Reading, Reacting, Writing. Ed. Laurie G. Kirszner, Stephen R. Mandell, and Candace Fertile. Scarborough, ON: Nelson, 2007. This is the piece of dramatic literature which my essay is based on. It is a play by Samuel Beckett about an elderly man who looks back on his diary tapes from years ago and voices how his opinion has changed over the years Dream Moods. â€Å"Banana. † Dream Dictionary. 6 March 2007 http://dreammoods. com/cgibin/searchcsv. pl? method=exactheader=dreamsymbolsearch=banana. This website is an online dream dictionary. It allows for you to look up specific objects and also scenarios. It was very useful in my essay as it gave a best description of the symbolism behind a banana. The negative side to this website is that it is not peer-reviewed but I was unable to find anything substantial in the journals. Kehler, Dorothea. â€Å"Beckett’s Krapp’s Last Tape. † Explicator. 60:3 (2002): 159. Academic Search Premier. EBSCO. Georgian College Lib. , Barrie, ON. 9 March 2007 http://web. ebscohost. com. Kehler points of the references made in â€Å"Krapp’s Last Tape† which relate to both â€Å"Othello† and â€Å"Gooseberries†. This article gives insight to the reader as to where Samuel Beckett came up with some of the ideas for writing â€Å"Krapp’s Last Tape†. I did not use this in my research essay. Kriszner, Laurie G. , Stephen R. Mandell, and Candace Fertile. Literature: Reading, Reacting, Writing. 2nd ed. Scarborough: Nelson 2007. This is the text that â€Å"Krapp’s Last Tape† came from but also served as a reference to types of theatre. This text covers many kinds of literature such as short stories, drama, and poetry. Chapter 20, Understanding Drama, was particularly helpful as it described all of the genres of drama including the Theatre of the Absurd which was relevant to my essay. Santrock, John W. and John O. Mitterer. Psychology. 2nd ed. Toronto: McGraw-Hill Ryerson 2004. Santrock and Mitterer wrote this text as a learning tool for first year psychology students. It contains an overview on all of the fields of psychology. Chapter 1, What is Psychology? , was very helpful in explaining Freudian theory. Chapter 6, States of Consciousness, further explained Freud’s theory of wish fulfillment.