Relation of CSR and Market Measures of Financial Performance: International Evidence
Relation of CSR and Market Measures of Financial Performance: International Evidence

Author(s): Tomasz Słoński, Karolina Daszyńska-Żygadło, Bartosz Zawadzki
Subject(s): Business Economy / Management, Governance, Evaluation research, Financial Markets
Published by: Masarykova univerzita nakladatelství
Keywords: CSR; Tobin’s q;
Summary/Abstract: This study assesses the relationship between corporate social performance and financial performance. We measure CSR practices through a reliable, complete and worldwide database, ASSET4 provided by Thomson Reuters. We use Tobin’s q as a proxy of financial performance and introduce numerous control variables such as size, sales growth, year, industry and region. We find different levels of sensitivity among investorsto different CSR dimensions.

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