scholarly journals Individual Investors, Average Skewness, and Market Returns

2020 ◽  
Vol 12 (20) ◽  
pp. 8357
Author(s):  
Jungmu Kim ◽  
Yuen Jung Park
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Individual Investors ◽  
Future Market ◽  
Small Probability ◽  
Market Returns ◽  
Short Term ◽  
Noise Traders ◽  
Seeking Behavior ◽  
Corporate Social

Understanding individual investors’ short-term behavior toward skewness is essential for the management and investment of corporate social responsibility because the skewness-seeking behavior of individual investors, which causes a bubble in the market, makes the market as a whole more vulnerable, and it is difficult for the market to be sustainable. In the Korean stock market, we investigated whether average skewness can predict future market returns at the market level and whether the mispricing is associated with demand for the skewness of individual noise traders. Measuring the demand for skewness by the proportion of trading money of individual investors, we found that average skewness negatively predicts future market excess return when the demand for skewness is strong. The result is robust to controlling for market variance as well as other predictors. Our finding indicates that the overall market is overpriced when individual investors excessively trade to seek huge returns in spite of a small probability.

scholarly journals Program Corporate Social Responsibility di Industri Hotel: Sebuah Keuntungan atau Kerugian untuk Hotel

2012 ◽  
Vol 3 (1) ◽  
pp. 502
Author(s):  
Maria Pia Adiati
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Activity ◽  
Public Image ◽  
Term Result ◽  
Short Term ◽  
Short Term Result ◽  
The Social ◽  
Corporate Social

A word of CSR which stands for Corporate Social Responsibility is now becoming popular and more often many companies insert the CSR activities into its company profile. CSR has another different names such as Social Activity or Sustainability Development. CSR program according to wikipedia ia an organization or company has a responsibility to its customer, employees, share holders, community and environment in every aspect involved in company operasional. In the management science, there is a level whereas it is called social responsibility or it is just social obligation. Many opinions argues that CSR program will reduce the profit of the respected company. But many opinions denies the previous argue by saying the CSR program is a long term program profit gain since the short term result is good public image. The good public image will lead the loyalti of customer to keep using the product or service from the hotel. The customer loyalti also affected by the customer’s opinion, if they involves in the social activities held by the hotel, they also participate in a social activity.

scholarly journals The Impact of Environmental Corporate Social Responsibility on Enterprise Performance——Implications for Sustainable Development Strategy

2021 ◽  
Vol 251 ◽  
pp. 02072
Author(s):  
Ao Xiangyuan ◽  
Ong Tzesan
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Development Strategy ◽  
Positive Impact ◽  
Mainland China ◽  
Green Marketing ◽  
Enterprise Performance ◽  
Short Term ◽  
Corporate Social ◽  
The Impact

This paper selected 119 listed companies from 2008 to 2018 in mainland China as samples, aiming to further explore the different impacts of environmental corporate social responsibility (ECSR) on corporate performance in the long and short term, and explore the mediating role of corporate green marketing performance. The results show that CSR has a significant impact on the return on assets and enterprise value in the short term. In the long-term, the adoption of green marketing innovation has a positive impact on enterprise performance. In general, the results of this paper are of great significance for managers and external investors to implement decisions. In addition, the research results can help enterprises improve their environmental responsibility and green innovation in order to improve their competitiveness.

scholarly journals Corporate social responsibility: opportunities, drivers and barries.

2013 ◽  
Vol 1 (1) ◽  
Author(s):  
Sasan Ghasemi ◽  
Mehran Nejati
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Business Professionals ◽  
Short Term ◽  
Long Run ◽  
Qualitative Research Methodology ◽  
Key Drivers ◽  
Emerging Themes ◽  
Corporate Social ◽  
Depth Interviews

The following study employed a qualitative research methodology in order to explore the views of Iranian business professionals about the opportunities, drivers and barriers of corporate social responsibility (CSR). Thirteen Iranian business professionals with 9.2 years of overall working experience participated in in-depth interviews. The study revealed that majority of interviewees consider CSR as a threat for Iranian businesses in the short-term, yet as an opportunity in long-run in case businesses are ready to transform and commit to their responsibilities. The findings also included the emerging themes for the key drivers and barriers of CSR from the interviewees’ perspectives.

What Does Entrepreneurship Add to the Understanding of Corporate Social Responsibility Management in Sport?

2020 ◽  
pp. 1-13
Author(s):  
Cleo Schyvinck ◽  
Kathy Babiak ◽  
Bram Constandt ◽  
Annick Willem
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Entrepreneurship ◽  
Social Engagement ◽  
Short Term ◽  
Professional Soccer ◽  
Sport Teams ◽  
Depth Study ◽  
Strategic Csr ◽  
Corporate Social

Despite the widespread growth of corporate social responsibility (CSR) initiatives in sport, the majority of professional sport teams still manage social engagement in an opportunistic manner. Tactical attempts toward CSR management can provide discrete and short-term benefits, but lack the ability to create lasting social and economic impacts. This study uses an entrepreneurship perspective to study CSR management in sport. More specifically, it builds on the concept of corporate social entrepreneurship (CSE) to study the transition toward more strategic CSR approaches. Through an in-depth study of a single professional soccer case in Belgium, the drivers of CSE and their relation to strategic CSR development and implementation were explored. The findings indicate the importance of having an intrapreneur, an enabling organization, and, to some extent, stakeholder alliances. Challenges, however, arise at the level of organizational culture and aiming for shared value creation.

scholarly journals Do Corporate Social Responsibility Activities Reduce Credit Risk? Short and Long-Term Perspectives

2019 ◽  
Vol 11 (24) ◽  
pp. 6962 ◽  
Author(s):  
Thuy Thi Thu Truong ◽  
Jungmu Kim
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Credit Risk ◽  
Credit Default Swap ◽  
Community Diversity ◽  
Employee Relations ◽  
Short Term ◽  
Long Run ◽  
Corporate Social

This study examines the short- and long-run effects of corporate social responsibility (CSR) activities on the credit risk implied in credit derivative prices. Measuring the different term effects on credit risk by the slope of credit default swap (CDS) spreads with different maturities, we investigate how CSR activities affect credit risk differently in the short and long run. Fama-MacBeth regressions reveal that firms with higher CSR scores tend to have more gently decreasing CDS slopes because, on average, CSR activities reduce credit risk in the long run more than in the short run. An analysis of individual CSR categories shows that while community, diversity and employee relations lead to a lower CDS slope, human rights and product characteristics increase the CDS slope. This finding suggests that not all CSR activities affect short-term and long-term credit risks in the same direction. Therefore, even though CSR activities can reduce credit risk in the long-run, some CSR activities may increase the short-term credit risk and hence increase short-term borrowing costs.

scholarly journals Corporate Social Responsibility: A Literature Review

2020 ◽  
Vol 1 (1) ◽  
pp. 57-67
Author(s):  
Sanil S Hishan ◽  
Suresh Ramakrishnan1 ◽  
Nur Naha binti Abu Mansor
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Analytical Data ◽  
Global Market ◽  
Equity Returns ◽  
Market Returns ◽  
Stock Market Returns ◽  
Independent Variable ◽  
Market Needs ◽  
Corporate Social

Though corporate social responsibility became commonly debated in the last forty years of the twentieth century, at least as early as the nineteenth century, the notion that the company has moral responsibilities became apparent. The corporate social responsibility framework continuously adapts to global market needs. Given the recent advent of corporate social responsibility and sustainability concepts, as well as methodologies and criteria used to meet standards of "fair" business. However, a common connotation of corporate social responsibility (CSR) has not been standardized, although the CSR-related principles and norms are now being established. Between academicians and professionals, there is an increasing concern in corporate social responsibility. Companies are also supposed to be open not only to their creditors but to society at large. Margolis and Walsh (2001) and Orlitzky et al. (2003) presented round-about ninety-five analytical data on CSR and financial results over the period 1972 to 2001. CSR was an independent variable in these studies; while financial output was variable based. Fifty-three percent had a positive relationship with them, twenty-four percent had no partnership with them, nineteen percent had mixed relationships with them, and five percent had harmful relationships with them. Dam (2008) has presented analytical data on CSR and financial results, but there was one difference and one aspect that was normal. The novelty of the study was the distribution of empirical findings in tabulated form focused on asset returns (ROA), equity returns (ROE), selling returns (ROS), Tobin's Q, and stock market returns, and it was popular that only empirical findings were tabulated from 1972 to 2001. For companies and prospective scholars, the findings of this study are important regarding corporate social responsibility and consumer behaviour.

scholarly journals Empirical study on the correlation of corporate social responsibility with the banks efficiency and stability

2013 ◽  
Vol 10 (4) ◽  
pp. 86-93 ◽  
Author(s):  
Tatiana Vasileva ◽  
Anna Lasukova
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Short Term ◽  
Main Hypothesis ◽  
National Bank ◽  
Corporate Social ◽  
The Impact ◽  
The Relationship

The aim of this paper is to investigate the relationship between the concept of corporate social responsibility and the most important characteristics of banking – the efficiency and stability in a sample of twelve Ukrainian banks, which are the biggest banks in Ukraine according to the classification of the National Bank of Ukraine (NBU). Our research covers the period from 2006 to 2012. Based on the literature review we construct two main hypothesis related to the impact on the corporate social responsibility concept (CSR) of the following independent variables: 1 – efficiency (as a short term period characteristics of banking), 2 – stability (as a long term characteristics of banking).

scholarly journals Network organizations and corporate social responsibility

2016 ◽  
Vol 7 (4) ◽  
pp. 653 ◽  
Author(s):  
Katarzyna Kowalska
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Western Europe ◽  
Future Market ◽  
Socially Responsible ◽  
External Effects ◽  
Network Organizations ◽  
The Usa ◽  
Will Force ◽  
Corporate Social

Network organizations largely determine the competitive advantage today. Collaboration between companies and their success is based primarily on the image and trust. The network relations management is included in the supply chain, and the more complicated the chain, the more " fuzzy " the responsibility for the external effects of the business. In practice, network relationships result in numerous abuses, mostly in relations with competitors, customers and clients. However, it can be assumed that increasing competition, also on the Polish market, will force companies to apply socially responsible practices, also in the context of cooperating with local enterprises. The concept of corporate responsibility (CSR – Corporate Social Responsibility) is, in Polish conditions, a relatively unpopular concept, and the rare practice, especially among domestic enterprises. The situation is different on the Western Europe markets or in the USA. Companies operating in these markets are obliged to adapt the business standards to expectations of various stakeholders, and also contractors. The aim of the article is an attempt to justify the socially responsible practices by companies in today's and future market conditions. In addition, the article aims to describe network connections, different types of these relations, but also various methods and tools of improving existing network relations. In the context of socially responsible business, it seemed important to also analyze the relationships between organizational culture and actual practices taken by companies.

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