| ID | 130982 |
| Title Proper | Market reaction to corporate social responsibility announcements |
| Other Title Information | evidence from China |
| Language | ENG |
| Author | Zhang, Liang ; Wang, Tie-nan ; Fung, Hung-Gay |
| Publication | 2014. |
| Summary / Abstract (Note) | This study uses an event study methodology to examine how the Chinese market reacts to announcements of involvement in corporate social responsibility (CSR) by Southern Weekend (a Chinese newspaper) for Chinese firms from 2008 to 2012. Our results show significant and positive market reactions, supporting the instrumental stakeholder theory. We attribute the positive market response to social capital development and real growth options related to the CSR involvement by the Chinese firms. |
| `In' analytical Note | China and World Economy Vol.22, No.2; March-April 2014: p.81-101 |
| Journal Source | China and World Economy Vol.22, No.2; March-April 2014: p.81-101 |
| Key Words | Corporate Responsibility ; Social Responsibility ; Market Reaction ; Corporate Market ; China ; Economic Growth ; Chinese Economy ; Economic Firms - China ; Corporate Social Responsibility - CSR ; Chinese Firms ; Stakeholder Theory ; Stock Market |