The CSR–CFP relationship in the presence of institutional voids and the moderating role of family ownership

Abstract In weak institutional contexts characterized by voids, firms often struggle to demonstrate their ethical conduct. They are seen as raising the costs of influencing stakeholders and correspondingly level investment needed in stakeholder influence capacity order achieve corporate financial performance (CFP). We hypothesize find support for a U-shaped curvilinear relationship between social responsibility (CSR) engagement CFP context India—a country relatively institutions. also investigate whether family can help overcome drawbacks thus CSR CFP. adopt large sample, panel data approach test our theoretical model. observe relationship, consistent with earlier findings developed countries. However, we that this significant is observed only case sample.