A Study of the Impact of Corporate Social Responsibility on Business Performance and Stock Returns

• Main Authors: ZCHANG, YU-CHING, 張鈺菁
• Other Authors: LI, JIAN-FA
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/dv3n78

碩士 === 朝陽科技大學 === 財務金融系 === 106 === In the present study, we employ corporate social responsibility (CSR), company operations (OP), corporate governance (CG), and intellectual capital (IC) as factors to explore corporate social responsibility (CSR) performance (equity returns, assets returns) and the return on stock (SR), in which the proxies variable of CSR include the average employee (ES), company size (SIZE) and whether the company's financial statements are the four major accounting firms (AF). The empirical results show that corporate social responsibility (CSR) has significantly positive impact on the company's operating performance (return on shareholders' equity, return on assets), of which only the average annual employee (ES) has a significant negative impact, from the perspective of the company's business. Corporate social responsibility (CSR) regulations allow companies to follow and implement good impacts and performance on company performance. Corporate Social Responsibility (CSR) has no significant impact on stock returns (SR). As for insiders and stakeholders, they pay more attention to the company's profitability. It would not be important factor as doing investment activities whether the company has social responsibility activities or not