演講者: Professor Jimmy Yang (美國Oregon State University)

主持人: 蔡維哲副教授 (中山大學財務管理學系)

時間: 105年12月7號(星期三)下午2點10分

地點: 國立中山大學財務管理學系2015教室

講題: The Cost of Corporate Social Irresponsibility

摘要: The recent growth of socially responsible investments (SRI) has no doubt created additional demand for stocks of firms that meet high standards of corporate social responsibility (CSR). Several studies have investigated the performance of SRI and the value of CSR. To the extent that CSR is priced and valued by capital markets, it may be costly to firms that are not associated with CSR or even worse if they are considered socially irresponsible. For simplicity and in contrast to CSR, we adopt the term “corporate social irresponsibility” (CSI) to describe corporate decisions that do not meet or contradict the CSR standards. Although CSR has been studied quite extensively, not much attention has been paid to CSI. We focus on CSI and provide empirical evidence to show that CSI is indeed costly.