文章基本信息

标题：A Multi-Dimensional Analysis of Corporate Social Responsibility: Different Signals in Different Industries
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作者：Homayoon Shalchian 1* , Kais Bouslah 2 , Bouchra M’Zali
期刊名称：Journal of Financial Risk Management
印刷版ISSN：2167-9533
电子版ISSN：2167-9541
出版年度：2015
卷号：04
期号：02
页码：90-107
DOI：10.4236/jfrm.2015.42009
语种：English
出版社：Scientific Research Publishing
摘要：This study investigates the relation between individual dimensions of corporate social responsibility (CSR) and financial performance in different industries. Using Kinder, Lydenberg and Domini (KLD) social ratings, we find that investors seem to be more sensitive to the dimension “Environment” in mining and manufacturing sectors while they seem to be more sensitive to the dimension “Employees’ welfare” in the service industry. Our results also suggest that investors perceive an additional financial risk from firm’s irresponsible behavior and consequently, they are more pre-occupied by eventual losses caused by firms’ social irresponsibility than by potential financial gains from corporate social performance.
关键词：Corporate Social Performance; Corporate Social Irresponsibility; Financial Performance; Portfolio Management