The impact of Corporate Social Responsibility on Corporate Risk Taking and Firm Value
(2019) BUSN79 20191Department of Business Administration
- Abstract
- The aim of the study is to shed light on how CSR activities affect firm
value through its impact on corporate risk taking. We formed a panel data sample based on the European market and analyzed it by random effects models. The theoretical frameworks of this thesis are Stakeholder theory,
Shareholder theory, Agency theory, and Risk management theory. The sample consists of all the public listed European companies which disclosed ESG score within the period from 2014 to 2018.
We found that the joint effect of CSR and corporate risk taking has a
positive impact on firm value. In addition, by investigating the
relationship between CSR performance, the deviations from the
optimal risk taking, and firm value, we found that involving in... (More) - The aim of the study is to shed light on how CSR activities affect firm
value through its impact on corporate risk taking. We formed a panel data sample based on the European market and analyzed it by random effects models. The theoretical frameworks of this thesis are Stakeholder theory,
Shareholder theory, Agency theory, and Risk management theory. The sample consists of all the public listed European companies which disclosed ESG score within the period from 2014 to 2018.
We found that the joint effect of CSR and corporate risk taking has a
positive impact on firm value. In addition, by investigating the
relationship between CSR performance, the deviations from the
optimal risk taking, and firm value, we found that involving in CSR
activities reduces the deviation from the optimal risk taking which
increases the firm value. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/8987442
- author
- Çelniku, Kliti LU and Chen, Yao LU
- supervisor
- organization
- course
- BUSN79 20191
- year
- 2019
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Corporate social responsibility, Corporate Risk Taking, Firm value, ESG score, Stakeholders, CSR
- language
- English
- id
- 8987442
- date added to LUP
- 2019-09-30 13:55:07
- date last changed
- 2019-09-30 13:55:07
@misc{8987442, abstract = {{The aim of the study is to shed light on how CSR activities affect firm value through its impact on corporate risk taking. We formed a panel data sample based on the European market and analyzed it by random effects models. The theoretical frameworks of this thesis are Stakeholder theory, Shareholder theory, Agency theory, and Risk management theory. The sample consists of all the public listed European companies which disclosed ESG score within the period from 2014 to 2018. We found that the joint effect of CSR and corporate risk taking has a positive impact on firm value. In addition, by investigating the relationship between CSR performance, the deviations from the optimal risk taking, and firm value, we found that involving in CSR activities reduces the deviation from the optimal risk taking which increases the firm value.}}, author = {{Çelniku, Kliti and Chen, Yao}}, language = {{eng}}, note = {{Student Paper}}, title = {{The impact of Corporate Social Responsibility on Corporate Risk Taking and Firm Value}}, year = {{2019}}, }