Journal Article

媒體聲譽對企業社會責任得獎企業其股市表現與財務績效之影響

陳振南(Jen-Nan Chen), 盧陽正(Yang-Cheng Lu), 魏裕珍(Yu-Chen Wei), 王丹薐(Dan-Leng Wang)

2018

Overview

We investigate the ways in which the reputation of a firm created by the media can affect its stock market and financial performance during ‘corporate social responsibility’ (CSR) award announcement periods in Taiwan. The CSR ‘winners’ in this study are selected from the Global Views and CommonWealth Magazines, with content analysis being used to capture the information implied in the media reports. Our empirical results show that since media coverage can provide stakeholders with a superior image of CSR firms, non-CSR firms are provided with sufficient motivation to try to manipulate the media coverage and the overall level of news sentiment degree in the firm, in order to close the gap between their image and that of the CSR winners. Our results also indicate that media reputation relating to CSR winners is found to be higher than that for non-CSR firms and that the stock returns of CSR winners are likely to be significantly higher than those of non-CSR firms for a period of four to five months after CSR an

• Publisher: 國立臺灣大學管理學院
• Subject: content analysis / corporate social responsibility / financial performance / media reputation / Scopus / stock market performance / TSSCI / 企業社會責任 / 內容分析 / 媒體聲譽 / 股市表現 / 財務績效