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Do Good and Do Well: An Empirical Study of the MSCI World

Azar, Alexandre LU and Zhou, Heying (2017) NEKN02 20171
Department of Economics
Abstract
The purpose of our study is to examine the effect of Corporate Social Responsibility on Corporate Financial Performance. We initially perform a multiple linear regression using Ordinary Least Square on an academically recurring model, and then apply cross sectional fixed effect to account for heterogeneity. Our panel data is composed of approximatively 1500 companies over a five year span, totalizing more than 10000 observations. A primary contribution that we make to the question is introducing country law regime as a control variable, based on Liang & Renneboog (2017) predicator model of CSR. We use Sustainalytics ratings to proxy for CSR as their analyses fulfill the latest academic requirement on the question. Mixed evidence of the... (More)
The purpose of our study is to examine the effect of Corporate Social Responsibility on Corporate Financial Performance. We initially perform a multiple linear regression using Ordinary Least Square on an academically recurring model, and then apply cross sectional fixed effect to account for heterogeneity. Our panel data is composed of approximatively 1500 companies over a five year span, totalizing more than 10000 observations. A primary contribution that we make to the question is introducing country law regime as a control variable, based on Liang & Renneboog (2017) predicator model of CSR. We use Sustainalytics ratings to proxy for CSR as their analyses fulfill the latest academic requirement on the question. Mixed evidence of the effect of CSR on CFP is found, and we also confirm the significance of country law regime as a predicator. (Less)
Please use this url to cite or link to this publication:
author
Azar, Alexandre LU and Zhou, Heying
supervisor
organization
course
NEKN02 20171
year
type
H1 - Master's Degree (One Year)
subject
keywords
Corporate Social Responsibility Financial Performance Linear Regression Sustainalytics Rating Shareholder Theory Stakeholder
language
English
id
8910210
date added to LUP
2017-06-13 15:19:56
date last changed
2017-06-13 15:19:56
@misc{8910210,
  abstract     = {The purpose of our study is to examine the effect of Corporate Social Responsibility on Corporate Financial Performance. We initially perform a multiple linear regression using Ordinary Least Square on an academically recurring model, and then apply cross sectional fixed effect to account for heterogeneity. Our panel data is composed of approximatively 1500 companies over a five year span, totalizing more than 10000 observations. A primary contribution that we make to the question is introducing country law regime as a control variable, based on Liang & Renneboog (2017) predicator model of CSR. We use Sustainalytics ratings to proxy for CSR as their analyses fulfill the latest academic requirement on the question. Mixed evidence of the effect of CSR on CFP is found, and we also confirm the significance of country law regime as a predicator.},
  author       = {Azar, Alexandre and Zhou, Heying},
  keyword      = {Corporate Social Responsibility Financial Performance Linear Regression Sustainalytics Rating Shareholder Theory Stakeholder},
  language     = {eng},
  note         = {Student Paper},
  title        = {Do Good and Do Well: An Empirical Study of the MSCI World},
  year         = {2017},
}