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The paper examines the relationship between CSR and cost of equity in an in-ternational context assessing the moderating effect of culture on the relation between CSR and the cost of equity. We use an international sample of 42 countries, and company-level data from 2002-2013, to address...
Persistent link: https://www.econbiz.de/10012971826
Dieser Beitrag analysiert die Einbettung des Unternehmens über Corporate Social Responsibility (CSR) in das Wirtschaftssystem. CSR wird dabei als freiwilliges Engagement der Unternehmen verstanden, das dazu beiträgt, etwaige Lücken zwischen gesellschaftlichen Vorstellungen und...
Persistent link: https://www.econbiz.de/10009424459
The literature on corporate social performance (CSP) is largely split between approaches that consider CSP to be extrinsically driven and those that consider it to be intrinsically driven. While some studies in the management literature have paid attention to drivers of both types, the...
Persistent link: https://www.econbiz.de/10014046803
Persistent link: https://www.econbiz.de/10003292832
, namely the Dow Jones Sustainability World Index (DJSI World), on corporate financial performance. On the basis of panel data … World on return on assets and Tobin’s Q in pooled regression models become weaker and less robust in the case of return on … inclusion in the DJSI World could be the composition of this stock index, which is influenced by factors that need not …
Persistent link: https://www.econbiz.de/10008746683
This paper provides new empirical evidence for the effect of corporate social responsibility (CSR) on corporate financial performance. In contrast to former studies, we examine two different regions, namely the USA and Europe. Our econometric analysis shows that environmental and social...
Persistent link: https://www.econbiz.de/10003761387
, namely the Dow Jones Sustainability World Index (DJSI World), on corporate financial performance. On the basis of panel data … World on return on assets and Tobin's Q in pooled regression models become weaker and less robust in the case of return on … inclusion in the DJSI World could be the composition of this stock index, which is influenced by factors that need not …
Persistent link: https://www.econbiz.de/10013070646
This paper presents an industry equilibrium model where firms have a choice to engage in corporate social responsibility (CSR) activities. We model CSR as an investment to increase product differentiation that allows firms to benefit from higher profit margins. The model predicts that CSR...
Persistent link: https://www.econbiz.de/10012897379
This paper presents an industry equilibrium model where firms have a choice to engage in corporate social responsibility (CSR) activities. We model CSR as an investment to increase product differentiation that allows firms to benefit from higher profit margins. The model predicts that CSR...
Persistent link: https://www.econbiz.de/10012940360
This study provides evidence on the existence of a negative Greenium, i.e. a green risk premium, based on European individual stock returns and portfolios. By defining a green factor which is priced by the market, we offer a tool to assess a portfolio exposure to climate risk and hedge against...
Persistent link: https://www.econbiz.de/10012053558