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

Kód výsledku v 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>

Nalezeny alternativní kódy

RIV/00216208:11230/23:10432092

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2023

Kód důvěrnosti údajů

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

Název periodika

Journal of Business Ethics

ISSN

0167-4544

e-ISSN

1573-0697

Svazek periodika

182

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

20

Strana od-do

223-242

Kód UT WoS článku

000695753500001

EID výsledku v databázi Scopus

2-s2.0-85114872010