Research Notes. CORPORATE SOCIAL RESPONSIBILITY AND STOCK MARKET PERFORMANCE.

Alexander, Gordon J.; Buchholz, Rogene A.

doi:10.2307/255728

Cited by 530 publications

(231 citation statements)

References 6 publications

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“…A positive association has been documented in many studies (e.g. Cochran & Wood, 1984;Moskowitz, 1972) while many scholars disputed these positive results (Friedman, 1970;Aupperle et al, 1985) and some shown empirical negative evidence (Abott & Monsen, 1979;Alexander & Buchholz, 1978). Besides, their irrelevance has been found since there are so many intervening variables between CSR and CFP.…”

Section: Theoretical Background and Hypothesis Developmentmentioning

confidence: 99%

Does Geographical Proximity Affect Corporate Social Responsibility? Evidence from U.S. Market

Boeprasert¹

2012

IBR

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Corporate Social Responsibility is considered as a key corporate agenda in recent years. This study examines the relation between geographical proximity to metropolitan areas and corporate social responsibility. Methodologically, sample firms are classified by their distance to top-metropolitan area of Census 2010. Corporate social responsibility follows scoring system, which has been developed by the notable KLD Research & Analytics. Based on the samples from U.S. listed firms, the results support the main hypothesis that firm locating further from metropolitan areas tends to commit greater degree of social responsibility than those locating nearby top-metropolitan areas. Social responsible activities are exploited as a mean to alleviate information asymmetry and agency conflict rose from a distance. Besides, further investigation shows that the results above are potentially explained by some attributes of corporate social responsibility. These results are important to academic field because they show that the extent of any non-financial corporate activity, i.e. corporate social responsibility, can be explained by its geographical background.

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Section: Theoretical Background and Hypothesis Developmentmentioning

confidence: 99%

Does Geographical Proximity Affect Corporate Social Responsibility? Evidence from U.S. Market

Boeprasert¹

2012

IBR

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“…An earlier study by Alexander and Buchholz (1978) used risk-adjusted market return to investigate the relationship between the stock market performance of a company and social responsibility. This study concluded that there was no significant relationship between the degree of social responsibility and stock market performance.…”

Section: Non-significant and Inclusive Results On The Relationship Bementioning

confidence: 99%

“…Advocates of this view propose that socially responsible companies tend to be at a competitive disadvantage because of the costs added by their involvement in socially responsible activities (Alexander & Buchholz 1978). This view of a negative relationship between CFP and CSR has been supported by empirical findings from different studies (Abiodun 2012;Lerner & Fryxell 1988;López et al 2007;Wright & Ferris 1997).…”

Section: Empirical Evidence Supporting a Negative Relationship Betweementioning

confidence: 95%

Does corporate social responsibility affect companies’ financial performance? A review of empirical studies

Muzindutsi¹

2015

Proceedings of the 7th International Conference on Business and Finance

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“…The technique of controlling companies by industry has proven to be preferable to other past studies that have looked for CSR relationships without controlling for this variable (e.g., Moskowitz, 1972;Parket & Eilbirt, 1975;Vance, 1975;Heinz, 1976;Alexander & Buchholz, 1978). By studying within an industry, a more accurate and homogeneous comparison between firms is possible since certain industries have different "accounting practices, operating leverage and other variables, [such as risk], [which] may influence test results" (Cochran & Wood, 1984, p. 47).…”

Section: Previous Researchmentioning

confidence: 99%

Corporate Leadership in Sustainability: A Green Ranking Performance-Based Approach to Understanding the Corporate Social Responsibility (CSR) and Positive Marketing Impact

Davis¹,

Alibašić²,

Norris³

2018

CJIL

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This paper analyzes several foundational concepts and questions regarding corporate social responsibility (CSR). Its primary contribution is a statistical examination of relationships between CSR and Newsweek's 2012 Green Rankings using forensic-based financial and accounting measures. We also replicate a previous study and introduce new variables for looking at CSR from an economic perspective. The paper is interdisciplinary in that it synthesizes preceding studies' conceptions of CSR through finance, consumer behavior, branding, and ethics -a mix which has received minimal attention -in an attempt to better characterize and measure CSR.

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Research Notes. CORPORATE SOCIAL RESPONSIBILITY AND STOCK MARKET PERFORMANCE.

Cited by 530 publications

References 6 publications

Does Geographical Proximity Affect Corporate Social Responsibility? Evidence from U.S. Market

Does Geographical Proximity Affect Corporate Social Responsibility? Evidence from U.S. Market

Does corporate social responsibility affect companies’ financial performance? A review of empirical studies

Corporate Leadership in Sustainability: A Green Ranking Performance-Based Approach to Understanding the Corporate Social Responsibility (CSR) and Positive Marketing Impact

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