Does corporate social responsibility matter in Asian emerging markets?

Yan Leung Stephen CHEUNG, Weiqiang TAN, Hee-Joon AHN, Zheng ZHANG

Research output: Contribution to journalArticles

76 Citations (Scopus)

Abstract

This study addresses the question whether corporate social responsibility (CSR) matters in Asian Emerging Markets. Based on CSR scores compiled by Credit Lyonnais Securities (Asia), we assess the CSR performance of major Asian firms over a period of 3 years, from 2001 to 2004. The results show that there is a positive and significant relation between CSR and market valuation among Asian firms. We further find that CSR is positively related to the market valuation of the subsequent year. More importantly, Asian firms are rewarded by the market for improving their CSR practice. Copyright © 2009 Springer Science+Business Media B.V.
Original languageEnglish
Pages (from-to)401-413
JournalJournal of Business Ethics
Volume92
Issue number3
DOIs
Publication statusPublished - Mar 2010

Citation

Cheung Y. L., Tan, W., Ahn, H.-J., & Zhang, Z. (2010). Does corporate social responsibility matter in Asian emerging markets? Journal of Business Ethics, 92(3), 401-413. doi: 10.1007/s10551-009-0164-3

Keywords

  • Asian emerging markets
  • Corporate social responsibility
  • Corporate valuation

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