Does Corporate Social Responsibility Matter in Asian Emerging Markets?

被引：100
|
作者：
Cheung, Yan Leung [1 ]
Tan, Weiqiang [2 ]
Ahn, Hee-Joon [3 ]
Zhang, Zheng [4 ]
机构：
[1] Hong Kong Baptist Univ, Sch Business, Kowloon, Hong Kong, Peoples R China
[2] City Univ Hong Kong, Kowloon, Hong Kong, Peoples R China
[3] Sungkyunkwan Univ, Sch Business, Seoul, South Korea
[4] Guanghua Sch Management, Beijing, Peoples R China
来源：
JOURNAL OF BUSINESS ETHICS | 2010年 / 92卷 / 03期
关键词：
Asian Emerging Markets; corporate social responsibility; corporate valuation; PERFORMANCE;
D O I：
10.1007/s10551-009-0164-3
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study addresses the question whether corporate social responsibility (CSR) matters in Asian Emerging Markets. Based on CSR scores compiled by Credit Lyonnais Securities (Asia), we assess the CSR performance of major Asian firms over a period of 3 years, from 2001 to 2004. The results show that there is a positive and significant relation between CSR and market valuation among Asian firms. We further find that CSR is positively related to the market valuation of the subsequent year. More importantly, Asian firms are rewarded by the market for improving their CSR practice.
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页码：401 / 413
页数：13
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