企业社会责任与公司风险的实证分析
PDF下载 (458)封之远,王旭程,陈美兰,周晖杰.企业社会责任与公司风险的实证分析[J].宁波大学学报(理工版),2019,32(6):98-102.DOI:
FENG Zhiyuan,WANG Xucheng,CHEN Meilan,ZHOU Huijie.Empirical study on corporate social responsibility and corporate risk[J].Journal of Ningbo University(Natural Science & Engineering Edition),2019,32(6):98-102.DOI:
| Title: | Empirical study on corporate social responsibility and corporate risk |
| 作者: | 封之远, 王旭程, 陈美兰, 周晖杰 |
| Author(s): | FENG Zhiyuan, WANG Xucheng, CHEN Meilan, ZHOU Huijie |
| 关键词: | 企业社会责任; 公司风险; 风险管理 |
| Keywords: | corporate social responsibility; risk reduction; corporate risk |
| 分类号: | F234.3 |
| 文献标识码: | A |
| 摘要: | 探究了企业社会责任活动与公司风险之间的关系. 以国泰安2008~2012年近万所上市公司作为对象, 应用Stata软件进行回归分析, 检验有关上市公司从事企业社会责任活动可降低自身公司风险的假说是否成立. 测试后发现, 目前上市公司从事企业社会责任活动将增加自身公司的风险, 且上市公司高管对于公司风险可进一步把控及优化 |
| Abstract: | In the paper, we examine the relation between corporate social responsibility and corporate risk. Employing the samples during the 2008-2012 period from CSMAR, and applying regressing analysis with Stata software, we find that CSR engagement is inversely associated with corporate risk after taking into account various corporate characteristics. To deal with endogeneity issue, by adopting a system equation approach and difference regressions, we further find that CSR engagement positively affects corporate risk. These findings support the notion that the top management of Chinese firms is, in general, risk-averse and that their CSR engagement is worth their risk management efforts |
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| 备注/Memo: | 收稿日期: : 2019−01−14. 宁波大学学报（理工版）网址: http://journallg.nbu.edu.cn/ 基金项目: : 浙江省自然科学基金（LY15G020015）; 温州市哲学社会科学规划课题（18WSK211）; 慈溪市众创空间项目. 第一作者: : 封之远（1976－）, 男, 广西容县人, 博士/教授, 主要研究方向: 公司理财及金融工程. E-mail: andy_fong0920@msn.com *通信作者: : 王旭程（1979－）, 男, 福建福安人, 硕士/讲师, 主要研究方向: 公司金融及金融工程. E-mail: wxc@wzbc.edu.cn 宁波大学学报（理工版）网址：http://journallg.nbu.edu.cn/ |
