دانلود رایگان مقاله انگلیسی مسئولیت اجتماعی شرکت های محلی، پوشش رسانه ها و ارزش سهامداران - الزویر 2018

عنوان فارسی
مسئولیت اجتماعی شرکت های محلی، پوشش رسانه ها و ارزش سهامداران
عنوان انگلیسی
Local corporate social responsibility, media coverage, and shareholder value
صفحات مقاله فارسی
0
صفحات مقاله انگلیسی
62
سال انتشار
2018
نشریه
الزویر - Elsevier
فرمت مقاله انگلیسی
PDF
نوع مقاله
ISI
نوع نگارش
مقالات پژوهشی (تحقیقاتی)
رفرنس
دارد
پایگاه
اسکوپوس
کد محصول
E10279
رشته های مرتبط با این مقاله
مدیریت، اقتصاد
گرایش های مرتبط با این مقاله
مدیریت استراتژیک، مدیریت کسب و کار، مدیریت منابع انسانی
مجله
مجله بانکداری و امور مالی - Journal of Banking and Finance
دانشگاه
Department of Finance - University of Mississippi - School of Business Administration - United States
کلمات کلیدی
مسئولیت اجتماعی شرکت، پوشش رسانه، نظریه ذینفع و نامحسوسات
doi یا شناسه دیجیتال
http://dx.doi.org/10.1016/j.jbankfin.2017.09.010
چکیده

ABSTRACT


Using news articles covering firm‟s corporate social responsibility (CSR) activities, we find that publicized CSR activities are positively associated with shareholder value and improved future operating performance. Furthermore, we find that media coverage on CSR engagements with local impact on companies‟ communities and employees, rather than those with broader social impact on the general public, is the main driver in explaining higher shareholder value and operating performance. We also implement a two-stage least-squares regression (2SLS) and propensity score matching to establish a causal link between publicized local CSR activities and shareholder value. Our evidence is consistent with the notion that shareholders put positive value on locally-oriented CSR when it is also complemented with high level of stakeholder awareness.

نتیجه گیری

 Conclusion


Do shareholders value corporate social responsibility? Our study sheds light on this long-standing debate by examining a specific channel of CSR media coverage through which CSR activities can have a real impact on firm value. We show that shareholders place positive value on CSR coverage in the media, and the effect is concentrated among news coverage on locally-oriented CSR activities, which are likely to generate tangible benefits for firms‟ stakeholders, than on socially-oriented CSR activities, which generate externalities involving the general public. Our findings thus highlight the important role that CSR news coverage and CSR awareness plays in realizing the value of CSR engagements.


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