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https://ah.lib.nccu.edu.tw/handle/140.119/79619
題名: | Reexamination of the insurance-like effect of corporate social responsibility: Empirical evidence from China-listed companies | 作者: | Yang, Shou-Lin;Shiu, Yung-Ming;Liu, Tsung-Chi 許永明 |
貢獻者: | 風管系 | 關鍵詞: | Corporate social responsibility ; China listed firms ; Insurance-like effect | 日期: | 2015 | 上傳時間: | 9-十二月-2015 | 摘要: | Purpose– The purpose of this paper is to re-examine the statement of Peloza (2006) that enterprise corporate social responsibility (CSR) investment provides a protection efficacy similar to insurance. Design/methodology/approach– This study uses the event study method and data from the 2008-2010 China listed company social responsibility report and the Taiwan Economic Journal. Findings– The authors find that the insurance-like effect of CSR investment also exists in China. Both short- and long-term CSR investments of Chinese companies provide this efficacy to corporate stock prices. The authors also find diminishing marginal insurance-like effects in China market. Originality/value– The CSR investment of firms in China can reduce company stock-price loss when negative events occur. The authors therefore obtain a better understanding of the value of enterprise CSR investment. | 關聯: | Chinese Management Studies, Vol. 9 Iss: 3, pp.295 - 310 | 資料類型: | article | DOI: | http://dx.doi.org/10.1108/CMS-03-2013-0047 |
Appears in Collections: | 期刊論文 |
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