Does it pay to be different? Relative CSR and its impact on firm value

• المؤلفون الرئيسيون: DING, David K., FERREIRA, Christo, WONGCHOTI, Udomsak
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2016
• الموضوعات: CSR; Corporate governance; Firm value; Stakeholders; Environmental; Corporate Finance; Finance and Financial Management
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/4996; https://ink.library.smu.edu.sg/context/lkcsb_research/article/5995/viewcontent/DoesitPayDifferentCSR_2014Aug_pp.pdf

Conventional aggregation of Corporate Social Responsibility (CSR) raw scores and its interpreted impact on firm value have provided mixed evidence in the literature. We show that the value impact of CSR activities relies heavily on the industry-specific relative position of the firm. Only firms that...