Corporate Social Responsibility and Stock Prices After the Financial Crisis: The Role of Strategic CSR Activities

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985556%3A_____%2F23%3A00545617" target="_blank" >RIV/67985556:_____/23:00545617 - isvavai.cz</a>

Alternative codes found

RIV/00216208:11230/23:10432092

Result on the web

<a href="https://link.springer.com/article/10.1007/s10551-021-04935-9" target="_blank" >https://link.springer.com/article/10.1007/s10551-021-04935-9</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1007/s10551-021-04935-9" target="_blank" >10.1007/s10551-021-04935-9</a>

Result language

angličtina

Original language name

Corporate Social Responsibility and Stock Prices After the Financial Crisis: The Role of Strategic CSR Activities

Original language description

We analyze the relationship between corporate social responsibility and the stock market performance in the post-global financial crisis period. A new measure of social responsibility by Thomson Reuters, called the ESG Combined Score, is used. As a novel feature of our analysis, socially responsible engagement is divided into the strategic activities closely related to the examined companies’ core business and the remaining secondary activities. The results of the fixed effects regression show a positive and statistically, as well as economically, significant impact of the strategic activities on the corporate stock market performance of companies. This impact is up to 103% higher compared to the secondary activities. The empirical results suggest that if companies aim to increase their share prices via the corporate social responsibility channel, they should strategically select their socially responsible initiatives.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

—

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2023

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Journal of Business Ethics

ISSN

0167-4544

e-ISSN

1573-0697

Volume of the periodical

182

Issue of the periodical within the volume

1

Country of publishing house

NL - THE KINGDOM OF THE NETHERLANDS

Number of pages

20

Pages from-to

223-242

UT code for WoS article

000695753500001

EID of the result in the Scopus database

2-s2.0-85114872010