The impact of corporate governance and corporate social responsibility on SA REITs' performance

Corporate governance (CG) is one of the most sought after areas of research globally. This paper employs a corporate governance index (CGI) formulated from the KING III and IV reports to examine the link between corporate performance and the quality of CG and corporate social responsibility (CSR) of...

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Bibliographic Details
Published in:Journal of property research 2024-07, Vol.41 (3), p.193-227
Main Authors: Moloi, Nosipho, Akinsomi, Omokolade, Wong, Woei Chyuan
Format: Article
Language:English
Subjects:
Corporate governance
corporate social responsibility
REITs
Social responsibility
Stock exchanges
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Summary:Corporate governance (CG) is one of the most sought after areas of research globally. This paper employs a corporate governance index (CGI) formulated from the KING III and IV reports to examine the link between corporate performance and the quality of CG and corporate social responsibility (CSR) of SA REITs listed on the Johannesburg Stock Exchange (JSE). The CGI index is created from King III and IV to measure the compliance of 33 SA REITs listed on the JSE as of January 2023. These REITs are assessed from 2013. The empirical investigation using multiple correspondence analysis (MCA) reveals that CG practices have a positive influence on firm performances measured by TSR (such as total share return). The results imply that CG's standard principles influences the firm performance of SA REITs with a higher magnitude. The CSR index is created from the King reports, and the MCA was also used. This indicates that an SA REIT that complies with CSR regulations will improve returns.
ISSN:0959-9916
1466-4453
DOI:10.1080/09599916.2024.2357108