Akben Selçuk, Elif2020-06-292020-06-292019952071-10502071-1050https://hdl.handle.net/20.500.12469/2981https://doi.org/10.3390/su11133643The 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:000477051900141x10.3390/su111336432-s2.0-85068700850N/AQ1