Corporate Social Responsibility and Financial Risk

By François Boutin-Dufresne, Patrick Savaria. 2004

289 citations recorded by the source corpus.

Subfields: Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/e282e0349bc92a7f85cfdd3f77e83016009ae365

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Finance

In Strategy and Management

Citations in the corpus

Factors Influencing Levels of Corporate Social Responsibility Disclosure by Libyan Firms: A Mixed Study (2012, background): “In this regard, companies that engage in CSR activities and its disclosure can foster various stakeholder relations (McWilliams & Siegel, 2001), thus reducing the company’s business risk (Boutin-Dufresne & Savaria, 2004).”
Corporate Environmental Responsibility and the Cost of Capital: International Evidence (2016, background): “8 Prior research finds that CSR engagement is inversely related to firm risk (Boutin-Dufresne and Savaria 2004; Lee and Faff 2009; Jo and Na 2012; Kim et al. 2014). 9 We emphasize that the environmental costs we analyze are external costs, that is, costs that affect a party (in our context, society)”
Does CSR Reduce Firm Risk? Evidence from Controversial Industry Sectors (2012, background): “5 Consistent with the risk reduction argument, a negative association is found between company-unique idiosyncratic risk and CSR (Boutin-Dufresne and Savaria 2004; Lee and Faff 2009) and between systematic risk and CSR (Oikonomou et al.”
The relationship between disclosures of corporate social performance and financial performance: Evidences from GRI reports in manufacturing industry (2015, background): “As stated by Boutin-Dufresne and Savaria (2004), in some particular industries, companies may be more socially responsible than others due to the nature of their business activities.”
Corporate Social Responsibility and Firm Debt Maturity (2015, background): “Boutin-Dufresne and Savaria (2004) highlight the existence of ethical risk: a high CSR level reduces the ethical risk incurred by the firm, which in turn reduces the total risk in a given portfolio.”
Corporate social responsibility, the cost of equity capital and ownership structure: An analysis of Chinese listed firms (2015, methodology): “Using a set of Canadian CSR risk measures, Boutin-Dufresne and Savaria (2004) find that firms demonstrating better CSR are associated with lower levels of idiosyncratic volatility. Because the cost of equity capital is the required rate of return given the market’s perception of a firm’s riskiness, ”
Operational Productivity, Corporate Social Performance, Financial Performance, and Risk in Manufacturing Firms (2016, background): “While some focus on the risk performance of a portfolio of stocks (e.g., Lee and Faff 2009, Boutin-Dufresne and Savaria 2004), other studies at the ﬁrm-level present ﬁndings on how individual dimensions of CSP differentially inﬂuence risks (Bouslah et al. 2013).”
Corporate Sustainability Performance and Idiosyncratic Risk: A Global Perspective (2009, unknown): “2005; Boutin-Dufresne and Savaria, 2004; DJSI, 2002; and Herremans, Akanthaporn, and”
Corporate Social Responsibility and Credit Ratings (2013, background): “Consistent with this view, Lee and Faff (2009) and Boutin-Dufresne and Savaria (2004) document that low CSR firms exhibit significantly higher idiosyncratic risk. Similarly, Frederick (1995), King (1995), Starks (2009), and El Ghoul et al. (2011) show that investors perceive socially irresponsible f”
Corporate Social Responsibility and Firm Size (2008, background): “CSR participation can enhance various stakeholder relations (McWilliams and Siegel, 2001), thereby reducing the firm’s business risk (Boutin-Dufresne and Savaria, 2004).”