Corporate Social Responsibility and Corporate Financial Performance: Evidence from Korea

This paper studies the empirical relation between corporate social responsibility (CSR) and corporate financial performance in Korea using a sample of 1122 firm-years during 2002-2008. We measure corporate social responsibility by both an equal-weighted CSR index and a stakeholder-weighted CSR index suggested by Akpinar et al. (2008). Corporate financial performance is measured by ROE, ROA and Tobin’s Q. We find a positive and significant relation between corporate financial performance and the stakeholder-weighted CSR index, but not the equal-weighted CSR index. This finding is robust to alternative model specifications and several additional tests, providing evidence in support of instrumental stakeholder theory

Wear of highly crosslinked polyethylene acetabular components: a review of RSA studies

Background and purpose - Wear rates of highly crosslinked polyethylene (XLPE) acetabular components have varied considerably between different published studies. This variation is in part due to the different techniques used to measure wear and to the errors inherent in measuring the relatively low amounts of wear in XLPE bearings. We undertook a scoping review of studies that have examined the in vivo wear of XLPE acetabular components using the most sensitive method available, radiostereometric analysis (RSA). Methods - A systematic search of the PubMed, Scopus, and Cochrane databases was performed to identify published studies in which RSA was used to measure wear of XLPE components in primary total hip arthroplasty (THA). Results - 18 publications examined 12 primary THA cohorts, comprising only 260 THAs at 2-10 years of follow-up. The mean or median proximal wear rate reported ranged from 0.00 to 0.06 mm/year. However, differences in the manner in which wear was determined made it difficult to compare some studies. Furthermore, differences in RSA methodology between studies, such as the use of supine or standing radiographs and the use of beaded or unbeaded reference segments, may limit future meta-analyses examining the effect of patient and implant variables on wear rates. Interpretation - This scoping review confirmed the low wear rates of XLPE in THA, as measured by RSA. We make recommendations to enhance the standardization of reporting of RSA wear results, which will facilitate early identification of poorly performing implants and enable a better understanding of the effects of surgical and patient factors on wear.Stuart A Callary, Lucian B Solomon, Oksana T Holubowycz, David G Campbell, Zachary Munn, and Donald W Howi

The impact of corporate social responsibility disclosure on financial performance : evidence from the GCC Islamic banking sector.

This paper examines the relationship between corporate social responsibility (CSR) and financial performance for Islamic banks in the Gulf Cooperation Council (GCC) region over the period 2000–2014 by generating CSR-related data through disclosure analysis of the annual reports of the sampled banks. The findings of this study indicate that there is a significant positive relationship between CSR disclosure and the financial performance of Islamic banks in the GCC countries. The results also show a positive relationship between CSR disclosure and the future financial performance of GCC Islamic banks, potentially indicating that current CSR activities carried out by Islamic banks in the GCC could have a long-term impact on their financial performance. Furthermore, despite demonstrating a significant positive relationship between the composite measure of the CSR disclosure index and financial performance, the findings show no statistically significant relationship between the individual dimensions of the CSR disclosure index and the current financial performance measure except for ‘mission and vision’ and ‘products and services’. Similarly, the empirical results detect a positive significant association only between ‘mission and vision’ dimension and future financial performance of the examined banks

Wear of a highly cross-linked polyethylene liner: a preliminary RSA study

Wear induced peri-prosthetic osteolysis and aseptic loosening remain the major contributing factors to failure of total hip arthroplasty. To reduce wear particles from acetabular liners, the process of polyethylene cross-linking has been modified. In this study, we examine the wear of Marathon™ acetabular liners using Radiostereometric Analysis. Thirty patients were enrolled in a prospective cohort study. Femoral head penetration was calculated for 25 patients at 6 months, 1 and 2 years postoperatively. The mean proximal head penetration was 0.067 mm at 6 months, 0.113 mm at 1 year and 0.120 mm at 2 years. The mean three-dimensional femoral head penetration was 0.240 mm at 6 months, 0.230 mm at 1 year and 0.232 mm at 2 years. For both parameters, there was no measurable wear between 1 and 2 years, and the mean annual linear wear was less than 0.06 mm/year, which is less than the suggested osteolysis threshold for polyethylene. All patients demonstrated a dramatic improvement in clinical scores. These results were comparable with other studies that used alternative techniques with conventional radiography to evaluate wear for Marathon™. Long-term studies using the RSA method are recommended to further quantify the clinical performance of this polyethylene liner.David Campbell, Graham Mercer, Kjell-Gunnar Nilsson, Vanessa Wells, John R. Field and Stuart A. Callar