How to estimate the model of sustainable profit and corporate social responsibility
This paper proposes an empirical method to estimate the model of sustainable profit and corporate social responsibility originated by Sudtasan and Suriya (2013). It suggests analysts to use data from official financial statements of companies which may be reported to the Stock Exchange in a particular country. These data can construct a time series data of a company if the number of years is long enough. Otherwise, the pooled cross-section and time series data from companies in the same industry may allow the construction of a panel data set. Then analysts can apply panel data analysis with fixed effects model and random effects model to estimate the data. These methods aim at locating the position of a company or a group of companies onto a phase diagram and calculate the steady state indicating the sustainability of profit and corporate social responsibility. By comparing the location of companies to the steady state, analysts can predict the direction of the firms in the long-run according to the streamlines in the phase diagram. They will be able to suggest policy manipulation to the firms to move toward the steady state.
|Date of creation:||21 Jan 2014|
|Date of revision:|
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- Jeeranan Techanan & Komsan Suriya, 2012. "Effect of income distribution on poverty reduction after the Millennium," The Empirical Econometrics and Quantitative Economics Letters, Faculty of Economics, Chiang Mai University, vol. 1(4), pages 169-179, December.
- Raymond Vernon, 1966. "International Investment and International Trade in the Product Cycle," The Quarterly Journal of Economics, Oxford University Press, vol. 80(2), pages 190-207.
- Komsan Suriya, 2013. "Econometrics for experimental economics," The Empirical Econometrics and Quantitative Economics Letters, Faculty of Economics, Chiang Mai University, vol. 2(3), pages 37 - 40, September.
- Tatcha Sudtasan & Komsan Suriya, 2013. "Sustainability of profit and corporate social responsibility: Mathematical modelingwith phase diagram," The Empirical Econometrics and Quantitative Economics Letters, Faculty of Economics, Chiang Mai University, vol. 2(4), pages 1 – 12, December.
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