University of Twente Student Theses
Does corporate social responsibility affect financial performance of listed manufacturing firms in Germany?
ZHANG, JIN (2016) Does corporate social responsibility affect financial performance of listed manufacturing firms in Germany?
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| Abstract: | Despite lots of research studies on the effect of corporate social responsibility on financial performance, the results are still inconclusive. The manufacturing industry is involved with environmental, social and ethical debates due to the nature of its business activity. Using theoretical argument of instrumental stakeholder theory, this research empirically examines the effect of corporate social responsibility on financial performance for 87 listed German manufacturing firms over the period of 2010-2015. The results show that improved corporate social performance results in negative ROA in OLS regression, but the result is inconclusive because it varies relative to other proxies for dependent variable (ROE and Tobin’s Q) and other estimation method (Firm Fixed Effect). Finally, the empirical findings support the hypothesis that the effect of CSP on CFP vary among five sectors in manufacturing industry. |
| Item Type: | Essay (Master) |
| Clients: | Unknown organization, Netherlands |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | Business Administration MSc (60644) |
| Link to this item: | https://purl.utwente.nl/essays/70938 |
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