Does corporate social responsibility matter in Asian emerging markets?

Author(s)
Author(s)
Tan, W.
Ahn, H.-J.
Zhang, Z.
Date Issued
2010
Publisher
Springer
Journal
Journal of Business Ethics
Volume
92
Issue
3
Start page
401
End page
413
Abstract
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.
URI
DOI
SFU Affiliated Publication
No
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