Does corporate social responsibility matter in Asian Emerging Markets?

Stephen Y L CHEUNG, Weiqiang TAN, Hee Joon Ahn, Zheng Zhang

Research output: Contribution to journalArticlepeer-review

87 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.

Original languageEnglish
Pages (from-to)401-413
Number of pages13
JournalJournal of Business Ethics
Volume92
Issue number3
DOIs
Publication statusPublished - Mar 2010

Scopus Subject Areas

  • Business and International Management
  • Business, Management and Accounting(all)
  • Arts and Humanities (miscellaneous)
  • Economics and Econometrics
  • Law

User-Defined Keywords

  • Asian Emerging Markets
  • Corporate social responsibility
  • Corporate valuation

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