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Corporate social responsibility and corporate financial performance : evidence from Korea/ created by Jong-Seo Choi, Young-Min Kwak, and Chongwoo Choe

By: Contributor(s): Material type: TextTextSeries: Australian journal of management ; Volume 35, number 3Los Angeles: Sage, 2010Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 03128962
Subject(s): LOC classification:
  • HD31 AUS
Online resources: Abstract: This paper studies the empirical relation between corporate social responsibility (CSR) and corporate financial performance in Korea using a sample of 1222 firm-years during 2002—2008. We measure corporate social responsibility by both an equal-weighted CSR index and a stakeholder-weighted CSR index suggested by Akpinar et al. (2008). Corporate financial performance is measured by return on equity, return on assets, and Tobin’s Q. We find a positive and significant relationship between corporate financial performance and the stakeholder-weighted CSR index, but not the equal-weighted CSR index. This finding is robust to alternative model specifications and several additional tests, providing evidence in support of instrumental stakeholder theory.
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Item type Current library Call number Vol info Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HD31 AUS (Browse shelf(Opens below)) Vol. 35, no.3 (pages 291-312) Not for loan For in house use only

This paper studies the empirical relation between corporate social responsibility (CSR) and corporate financial performance in Korea using a sample of 1222 firm-years during 2002—2008. We measure corporate social responsibility by both an equal-weighted CSR index and a stakeholder-weighted CSR index suggested by Akpinar et al. (2008). Corporate financial performance is measured by return on equity, return on assets, and Tobin’s Q. We find a positive and significant relationship between corporate financial performance and the stakeholder-weighted CSR index, but not the equal-weighted CSR index. This finding is robust to alternative model specifications and several additional tests, providing evidence in support of instrumental stakeholder theory.

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