Detail práce

Corporate Social Responsibility and Stock Market Performance: CSR Impact After the Financial Crisis and the Role of Primary CSR Activities

Autor: Bc. Aneta Pinteková
Rok: 2017 - letní
Vedoucí: PhDr. Jiří Kukačka Ph.D.
Typ práce: Bakalářská
Jazyk: Anglicky
Stránky: 77
Abstrakt: This thesis analyses the relationship between corporate social responsibility and companies’
stock market performance in the post-financial crisis period. A new measure of
social responsibility is used, called Thomson Reuters Environmental, Social, Governance,
and Controversies Score. The results of the Fixed Effects regression show a significant,
positive impact of the Score on the financial results of companies.
Socially responsible activities are further divided into those closely related to the specific
type of business of examined companies, called primary, and into those that are not directly
related to the companies’ business core, called secondary. Such distinction has not
yet been made in the academic literature. Empirical results suggest that if companies
aim at increasing their share prices also via the corporate social responsibility channel,
they are encouraged to select their socially responsible initiatives strategically. The impact
of the primary responsible activities on the corporate stock market performance is
significantly positive, while the secondary responsible activities do not affect the financial
results substantially.


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Patria Finance