Capital Structure as a Mediating Factor in the Relationship between Uncertainty, CSR, Stakeholder Interest and Financial Performance

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2020
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Abstract
We examine the mediating role of capital structure in the perceived relationship of uncertainty, corporate social responsibility (CSR), stakeholder interest and financial performance. We collect data through questionnaires, and survey the Chief Financial Officers (CFOs) of the service sector of Pakistan. We apply Structure Equation Modeling (SEM) for data analysis. We find that CFOs perceive uncertainty, CSR and stakeholder interest to have both direct and indirect impacts on financial performance. In particular, we find evidence of the mediating effect of capital structure in the relationship. Our findings imply that firms screen out uncertain situations while making capital structure decision and pursuing CSR-related activities.
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Authors Ahmed Imran Hunjra,Peter Verhoeven,Qasim Zureigat;Ahmed Imran Hunjra;Peter Verhoeven;Qasim Zureigat;
Journal journal of risk and financial management
Year 2020
DOI
10.3390/jrfm13060117
URL
https://sciprofiles.com/publication/view/2335146d8ed24159e566da70ae577b86
Keywords
uncertainty capital structure csr stakeholder interest financial performance

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