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CSR reporting and stock prices - Taking a closer look at the Nordic market

Preteni, Sadat and Andersson, Freddy (2011)
Department of Business Administration
Abstract
The purpose of this study is to examine how the voluntary disclosure of Corporate Social Responsibility in annual reports affects the stock prices of corporations listed on the OMX Nordic
Exchange. A quantitative method, with qualitative elements, is applied. The quantitative method is used to measure how CSR reporting affects stock prices, while the qualitative element is highlighted when ranking CSR reports .As a theoretical framework, general theories of CSR are used, which are then narrowed down to stakeholder and shareholder theory, which is complemented with earlier research within the field of CSR.Three different CSR variables are ranked based on CSR reports, and used as independent variables to explain stock prices, which... (More)
The purpose of this study is to examine how the voluntary disclosure of Corporate Social Responsibility in annual reports affects the stock prices of corporations listed on the OMX Nordic
Exchange. A quantitative method, with qualitative elements, is applied. The quantitative method is used to measure how CSR reporting affects stock prices, while the qualitative element is highlighted when ranking CSR reports .As a theoretical framework, general theories of CSR are used, which are then narrowed down to stakeholder and shareholder theory, which is complemented with earlier research within the field of CSR.Three different CSR variables are ranked based on CSR reports, and used as independent variables to explain stock prices, which constitute the dependent variable. None of the ranked CSR variables show significance, which indicates that CSR reporting has no effect on the stock prices of corporations listed on the OMX Nordic Exchange. The measurements are susceptible to some flaws, which makes it difficult to generalize the results. (Less)
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author
Preteni, Sadat and Andersson, Freddy
supervisor
organization
year
type
H1 - Master's Degree (One Year)
subject
keywords
CSR, stock prices, social performance, financial performance, CSR ranking, Management of enterprises, Företagsledning, management
language
Swedish
id
1970981
date added to LUP
2011-01-14
date last changed
2012-04-02 18:38:54
@misc{1970981,
  abstract     = {The purpose of this study is to examine how the voluntary disclosure of Corporate Social Responsibility in annual reports affects the stock prices of corporations listed on the OMX Nordic
Exchange. A quantitative method, with qualitative elements, is applied. The quantitative method is used to measure how CSR reporting affects stock prices, while the qualitative element is highlighted when ranking CSR reports .As a theoretical framework, general theories of CSR are used, which are then narrowed down to stakeholder and shareholder theory, which is complemented with earlier research within the field of CSR.Three different CSR variables are ranked based on CSR reports, and used as independent variables to explain stock prices, which constitute the dependent variable. None of the ranked CSR variables show significance, which indicates that CSR reporting has no effect on the stock prices of corporations listed on the OMX Nordic Exchange. The measurements are susceptible to some flaws, which makes it difficult to generalize the results.},
  author       = {Preteni, Sadat and Andersson, Freddy},
  keyword      = {CSR,stock prices,social performance,financial performance,CSR ranking,Management of enterprises,Företagsledning, management},
  language     = {swe},
  note         = {Student Paper},
  title        = {CSR reporting and stock prices - Taking a closer look at the Nordic market},
  year         = {2011},
}