The Corporate Social Responsibility (CSR) Trend
AbstractCorporate Social Responsibility, or "CSR," has recently become a subject of study by financial economists. While there is no shortage of anecdotal evidence to support all variety of positions, broad-based statistical evidence about the CSR movement is in short supply. This article presents some new empirical evidence that aims to answer three related questions about CSR: First, are corporations increasing their "investment" in what is considered socially responsible behavior? Second, does corporate investment in social responsibility affect a company's financial performance and shareholder value? Third, why do companies invest in CSR: to increase shareholder value, or to uphold a "moral" commitment to non-investor stakeholders and "society"? Copyright (c) 2008 Morgan Stanley.
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Bibliographic InfoArticle provided by Morgan Stanley in its journal Journal of Applied Corporate Finance.
Volume (Year): 20 (2008)
Issue (Month): 1 ()
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1078-1196
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