File Download

There are no files associated with this item.

  Links for fulltext
     (May Require Subscription)
Supplementary

Article: Corporate Social Performance, Firm Valuation, and Industrial Difference: Evidence from Hong Kong

TitleCorporate Social Performance, Firm Valuation, and Industrial Difference: Evidence from Hong Kong
Authors
KeywordsHong Kong market
Corporate social performance
Firm valuation
Issue Date2013
PublisherSpringer Verlag Dordrecht. The Journal's web site is located at http://springerlink.metapress.com/openurl.asp?genre=journal&issn=0167-4544
Citation
Journal of Business Ethics, 2013, v. 114 n. 4, p. 625-631 How to Cite?
AbstractThis study addresses two issues. First, does corporate social performance matter in Hong Kong. Second, if yes, is it relevant to some industries more than others. To answer these questions, we develop a corporate social performance index (CSP) to measure the quality of corporate social performance of major Hong Kong listed firms. The criteria are based on the OECD Principles of Corporate Governance. Using the 3-year period from 2002 to 2005, we find that firm valuation is positive and significantly associated with CSP. Interestingly, this relation matters less in China related firms and firms with a concentrated ownership structure. The results also show that CSP impacts firm valuation more positively when the firm is in the service sector. We further find that CSP is positively related to the market valuation of the subsequent year.
Persistent Identifierhttp://hdl.handle.net/10722/188231
ISSN
2015 Impact Factor: 1.837
2015 SCImago Journal Rankings: 1.358
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorCheung, YL-
dc.contributor.authorJiang, K-
dc.contributor.authorMak, BSC-
dc.contributor.authorTan, W-
dc.date.accessioned2013-08-23T03:51:52Z-
dc.date.available2013-08-23T03:51:52Z-
dc.date.issued2013-
dc.identifier.citationJournal of Business Ethics, 2013, v. 114 n. 4, p. 625-631-
dc.identifier.issn0167-4544-
dc.identifier.urihttp://hdl.handle.net/10722/188231-
dc.description.abstractThis study addresses two issues. First, does corporate social performance matter in Hong Kong. Second, if yes, is it relevant to some industries more than others. To answer these questions, we develop a corporate social performance index (CSP) to measure the quality of corporate social performance of major Hong Kong listed firms. The criteria are based on the OECD Principles of Corporate Governance. Using the 3-year period from 2002 to 2005, we find that firm valuation is positive and significantly associated with CSP. Interestingly, this relation matters less in China related firms and firms with a concentrated ownership structure. The results also show that CSP impacts firm valuation more positively when the firm is in the service sector. We further find that CSP is positively related to the market valuation of the subsequent year.-
dc.languageeng-
dc.publisherSpringer Verlag Dordrecht. The Journal's web site is located at http://springerlink.metapress.com/openurl.asp?genre=journal&issn=0167-4544-
dc.relation.ispartofJournal of Business Ethics-
dc.rightsThe original publication is available at www.springerlink.com-
dc.subjectHong Kong market-
dc.subjectCorporate social performance-
dc.subjectFirm valuation-
dc.titleCorporate Social Performance, Firm Valuation, and Industrial Difference: Evidence from Hong Kongen_US
dc.typeArticleen_US
dc.identifier.emailJiang, K: jiangkun@hku.hk-
dc.identifier.doi10.1007/s10551-013-1708-0-
dc.identifier.hkuros220141-
dc.identifier.volume114-
dc.identifier.issue4-
dc.identifier.spage625-
dc.identifier.epage631-
dc.identifier.isiWOS:000320313600003-
dc.publisher.placeNetherlands-

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats