Akben-Selcuk, Elif2024-10-152024-10-152019862071-1050https://doi.org/10.3390/su11133643https://hdl.handle.net/20.500.12469/6341Akben Selcuk, Elif/0000-0002-1384-243X; Akben Selcuk, Elif/0000-0001-9354-7475The objective of this study is to investigate the impact of corporate social responsibility (CSR) engagement on firm financial performance in a developing country, Turkey, and to analyze the moderating role of ownership concentration in the CSR-financial performance relationship. The sample consists of non-financial public firms listed on the Borsa Istanbul (BIST)-100 index and covers the period between 2014 and 2018. Empirical results using an instrumental variable approach show that corporate social responsibility has a positive relationship with financial performance. Furthermore, findings indicate that this relationship is negatively moderated by ownership concentration even when endogeneity is controlled for.eninfo:eu-repo/semantics/openAccesscorporate social responsibilitycorporate governancefinancial performancedeveloping countriesownership concentrationmoderationArticle1311WOS:00047705190014110.3390/su11133643Q2Q2