Relation of CSR and Market Measures of Financial Performance: International Evidence

被引：0
|
作者：
Slonski, Tomasz [1 ]
Daszynska-Zygadlo, Karolina [1 ]
Zawadzki, Bartosz [1 ]
机构：
[1] Wroclaw Univ Econ, Inst Financial Management, PL-53345 Wroclaw, Poland
来源：
EUROPEAN FINANCIAL SYSTEMS 2014 | 2014年
关键词：
CSR; Tobin's q; CORPORATE SOCIAL-RESPONSIBILITY; GOVERNANCE; RISK;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study assesses the relationship between corporate social performance and financial performance. We measure CSR practices through a reliable, complete and worldwide database, ASSET4 provided by Thomson Reuters. We use Tobin's q as a proxy of financial performance and introduce numerous control variables such as size, sales growth, year, industry and region. We find different levels of sensitivity among investors to different CSR dimensions. Using disaggregated measures of CSR, we find robust significant negative impact of the environmental dimension of the CSR scoring and measures of financial performance and positive when it comes to different CSR actions.
引用
收藏
页码：542 / 549
页数：8
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