A look at corporate social responsibility and firm performance : evidence from South Africa

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dc.contributor.author Demetriades, Kimon
dc.date.accessioned 2011-12-12T11:13:24Z
dc.date.available 2011-12-12T11:13:24Z
dc.date.issued 2011-12-12
dc.identifier.uri http://hdl.handle.net/10539/10893
dc.description.abstract Corporate Social Responsibility (CSR) is a new topic in finance which can be viewed from two different perspectives: that of the business (CSR), and that of the individual investor (Socially Responsible Investing, SRI). The evidence from this study suggested that in the short-term, there were no significant price effects on the SRI stocks around the announcement dates of the SRI constituent lists. In contrast, the returns of SRI portfolios over the sample period seemed to be superior to those of conventional firms. The regression analysis found that generally the SRI coefficients were insignificant; however using one of the models during the fifteen year period, it was found that SRI constituents attained a ROE that was 11.18% higher than conventional peers as well as a ROA that was 1.824% lower than conventional firms. When the period was restricted to 2004-2009 it was found that social performance was positively (and sometimes significantly) correlated with ROE. en_US
dc.language.iso en en_US
dc.subject Corporate social responsibility en_US
dc.subject Socially responsible investing en_US
dc.subject Financial performance en_US
dc.title A look at corporate social responsibility and firm performance : evidence from South Africa en_US
dc.type Thesis en_US

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    Thesis (Ph.D.)--University of the Witwatersrand, 1972.

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