IDEAS home Printed from https://ideas.repec.org/p/aap/wpaper/049.html
   My bibliography  Save this paper

What is the Value of Corporate Social Responsibility? An answer from Brazilian Sustainability

Author

Listed:
  • José Luiz Rossi Júnior

Abstract

This paper analyzes using a sample of non-financial Brazilian companies from 2005 to 2007 whether corporate social responsibility has an impact on firm value. Using companies’ Tobin’s Q as a proxy for their market value, the paper finds that firms that compose the Bovespa Corporate Sustainability Index (ISE) are traded with a premium compared to the other publicly traded firms. The result is robust to the inclusion of a set of control variables and the method of estimation. In addition, after controlling for self-selectivity, the results confirm that policies that focus corporate sustainability add value to the firm. The paper indicates that the benefits of corporate social responsibility policies surpass the possible costs implied by the adoption of such policies, leading corporate social responsibility to exert a positive impact on firm value.

Suggested Citation

  • José Luiz Rossi Júnior, 2008. "What is the Value of Corporate Social Responsibility? An answer from Brazilian Sustainability," Business and Economics Working Papers 049, Unidade de Negocios e Economia, Insper.
    • Handle: RePEc:aap:wpaper:049
    as

    Download full text from publisher

    File URL: https://repositorio.insper.edu.br/server/api/core/bitstreams/7eb810fd-2a2b-46fc-bb5d-e39c0b2ea24b/content?authentication-token=eyJhbGciOiJIUzI1NiJ9.eyJlaWQiOiIwNmRmYmM2MS1iNGQ1LTQ1YzgtYjlmNS1lYTk1ZDQwYTIwNzkiLCJzZyI6W10sImF1dGhlbnRpY2F0aW9uTWV0aG9kIjoicGFzc3dvcmQiLCJleHAiOjE3Mzk4MTQ5NTd9.S9-OT5LHGhAy5WQCXM0x3JG_TrJGwYNsk1u0Rmi-LHA
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aap:wpaper:049. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Biblioteca Telles (email available below). General contact details of provider: https://edirc.repec.org/data/inspebr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.