Volume 8, Issue 2 e70121
RESEARCH ARTICLE

CSR and Sustainable Development of the Firms With Moderating Effect of CG: Evidence From Developing Countries

Yousef Shahwan

Corresponding Author

Yousef Shahwan

Accounting Department, Zarqa University, Zarqa, Jordan

Correspondence:

Yousef Shahwan ([email protected])

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First published: 03 June 2025
Citations: 1

Funding: This work was supported by Zarqa University.

ABSTRACT

In the face of intense technical rivalry and economic globalization, sustainable development of the firm is becoming important to many companies. The majority of firms are addressing it strategically. fostering sustainable corporate development, enhancing brand competitiveness, and building a company's reputation all depend on the successful implementation of corporate social responsibility. The degree of corporate governance is also a critical component in the future development of a firm. Thus, the present research employs empirical analysis to achieve the objective of this study, to shed light on whether corporate social responsibility contributes to the sustainable growth of businesses. From the standpoint of corporate governance, it also examines the impact of internal governance elements on the link between both. From 2018 until 2022, the fixed-effects regression test was performed on a sample of shareholding firms listed in the first market in the Amman Stock exchange. The findings indicate that proactive corporate social responsibility may support sustainable development. Moreover, the corporate social responsibility process on sustainable development of the firms is moderated by corporate governance elements including the quality of accounting information, management capabilities, and internal control. There are also limitations to this investigation, such as the study focused on top firms and ignored the other listed firms, while future research can discover other types of firms. Finally, combining corporate social responsibility with corporate governance may increase sustainability, boost competitiveness, and support long-term economic stability, particularly in emerging nations like Jordan that are important for employment and economic growth.

Conflicts of Interest

The author declares no conflicts of interest.

Data Availability Statement

The data that support the findings of this study are available on request from the corresponding author. The data are not publicly available due to privacy or ethical restrictions.

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