Department of Finance & Decision Sciences
Does corporate social responsibility matter in Asian emerging markets?
This study addresses the question whether corporate social responsibility (CSR) matters in Asian Emerging Markets. Based on CSR scores compiled by Credit Lyonnais Securities (Asia), we assess the CSR performance of major Asian firms over a period of 3 years, from 2001 to 2004. The results show that there is a positive and significant relation between CSR and market valuation among Asian firms. We further find that CSR is positively related to the market valuation of the subsequent year. More importantly, Asian firms are rewarded by the market for improving their CSR practice. © Springer 2009.
Asian Emerging Markets, Corporate social responsibility, Corporate valuation
Source Publication Title
Journal of Business Ethics
Cheung, Yan Leung, Weiqiang Tan, Hee-Joon Ahn, and Zheng Zhang. "Does corporate social responsibility matter in Asian emerging markets?." Journal of Business Ethics 92.3 (2010): 401-413.