논문 해외 국제전문학술지(SCI급) DO INVESTORS TRULY VALUE CORPORATE SOCIAL RESPONSIBILITY IN COMPANIES LISTED ON THE KOREAN STOCK MARKETS?
- 학술지 구분 국제전문학술지(SCI급)
- 게재년월 2013-03
- 저자명 권기정
- 학술지명 ASIAN SOCIAL SCIENCE
- 발행처명 Canadian Center of Science and Education
- 발행국가 해외
- 논문언어 외국어
- 전체저자수 1
홈페이지논문 초록 (Abstract)
This study investigates the value relevance and market response of corporate social responsibility (CSR) activities from 2001 to 2010 . This paper examines whether donation expenditure (proxies for CSR) is significantly related to next year's earnings and whether Korean investors truly react to the information on CSR activities. The empirical results of thispaper indicate that donation expendit ure (which proxies for social contribution activities) is significa ntly associated with firm value and Korean market investors are full y aware of the information content of donation expenditure.