The relationship between ex‐ante cost of equity capital and corporate social responsibility in introductory and maturity period

Autor:	Shih‐Wei Hung, Chen-Hsun Lee, Roger C.Y. Chen
Rok vydání:	2019
Předmět:	Ex-ante Cost of capital business.industry Strategy and Management Corporate social responsibility Accounting Business Management Monitoring Policy and Law Development Performance forecasting Maturity (finance) Information transparency Period (music)
Zdroj:	Corporate Social Responsibility and Environmental Management. 27:1089-1107
ISSN:	1535-3966 1535-3958
DOI:	10.1002/csr.1867
Popis:	In the long term, the relationship between corporate social responsibility (CSR) and ex‐ante cost of equity capital is inconsistent. This study explores the association with corporate social responsibility, ex‐ante cost of equity capital, and operating performance forecasting with analysts. We also separate the research period into introductory period and maturity period to examine this study. The results find that sound corporate social responsibility policy, more information transparency of CSR, and creating interaction with stakeholders are reduced ex‐ante cost of equity capital to increase operating performance, and analysts give more positive forecast or better evaluation. On the other hand, we also find that the engagement on CSR is motivational factors in introductory period to become the hygiene factors on firms' management in maturity period.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::af7525355ef39f9b44c1540b807f7f02 https://doi.org/10.1002/csr.1867 Zobrazit plný text záznamu