| dc.contributor | 風管系 | - |
| dc.creator (作者) | 許永明 | zh_TW |
| dc.creator (作者) | Shiu, Yung-Ming;Yang, Shou-Lin | - |
| dc.date (日期) | 2017-02 | - |
| dc.date.accessioned | 14-Mar-2016 16:01:18 (UTC+8) | - |
| dc.date.available | 14-Mar-2016 16:01:18 (UTC+8) | - |
| dc.date.issued (上傳時間) | 14-Mar-2016 16:01:18 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/82600 | - |
| dc.description.abstract (摘要) | Research summary: This study examines whether the stock and bond prices of firms engaging in ‘corporate social responsibility’ (CSR) can benefit from insurance-like effects during occurrences of negative events. Our results suggest that in the face of negative events, engagement in CSR on a continuous, long-term basis provides insurance-like effects on both the stock and bond prices of firms. Nevertheless, the effects are found to quickly disappear following the occurrence of a second, or subsequent, negative event. Although our results clearly indicate that firms need to allocate some of their available resources to long-term strategic CSR activities, managers must also realize that in a crisis communication, they will probably be able to use their CSR claims on one occasion only. Managerial summary: The purpose of this paper is to examine whether firms engaging in CSR can benefit from ‘insurance-like’ effects during occurrences of negative events. We find that on the occurrence of a negative event, long-term CSR engagement does have insurance-like effects. We also find that these insurance-like effects may quickly disappear following the occurrence of a second negative event. Managers of firms with a long history of CSR activities need to realize that in a crisis communication, they can probably use their claims of adherence to CSR only once. | - |
| dc.format.extent | 290325 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | Strategic Management Journal, Volume38, Issue2 , Pages 455-470 | - |
| dc.subject (關鍵詞) | corporate social responsibility;insurance-like effects;risk management;event study;negative events | - |
| dc.title (題名) | Does Engagement in Corporate Social Responsibility Provide Strategic Insurance-like Effects? | - |
| dc.type (資料類型) | article | - |
| dc.identifier.doi (DOI) | 10.1002/smj.2494 | - |
| dc.doi.uri (DOI) | http://dx.doi.org/10.1002/smj.2494 | en_US |
