|Titre :||An Empirical Investigation into the Links between Corporate Social Responsibilities and Corporate Financial Performance within Listed Companies in China|
|Auteurs :||Yuanyuan Yang, Auteur|
|Type de document :||mémoire|
|Editeur :||La Rochelle : Groupe Sup de Co, 2016|
|Note générale :||
Mémoire ESC 2016
Note : 15,6/20
Directeur du Mémoire : Dominic DRILLON
[Management] ASIE > ASIE > CHINE
[Management] FINANCE D'ENTREPRISE > FINANCE D'ENTREPRISE
With the rapid development of the global economy, the public is paying more and more attention on the negative impact of the economic development on the environment as well as enjoying the rich material wealth. As the core of economic development, companies are obliged to take more and more social responsibilities in the pursuit of economic benefits. In accordance with the existing research, it is believed that the performing of CSR is beneficial for the corporate financial performance as well as the long-term development of companies. But the corresponding research in China is still in the qualitative stage. As a result, the author aims to empirically investigate into the impact of CSR on CFP within listed companies in China.
The author first of all review of existing research about the definition of CSR, the controversial conclusions of the correlation between CSR and CFP and the measurement methods for CSR and CFP. Based on the literature review, the quantification methods for this research are pointed out. The sample companies of the research come from the 263 listed companies of HS300 and 100 companies of SSE180. These sample companies cover a large scope of companies and industries and are relatively representative. With data from these sample companies, descriptive statistical analysis and correlation analysis are conducted to analyze the correlation between CSR and CFP.
The findings of the empirical research are as follows. First, from the perspective of the capital market, CSR is not significantly correlated with stock return rate within listed companies in China, no matter from the aspect of the return rate of individual stock or from the aspect of the return rate of rating portfolio. Second, from perspective of corporate accounting information, CSR is conducive to CFP within listed companies in China. More specifically, corporate governance is beneficial for CFP, but the impact of environmental protection on CFP depends on the selection of different accounting indicators within listed companies in China.
|En ligne :||https://myintranet.excelia-group.com/fr-fr/mediatheque/Memoires/Yang-Yuanyuan.pdf|