Does corporate social responsibility matter in the food industry? Evidence from a nature experiment in China

被引：95

作者：

Kong, Dongmin ^{[1
]}

机构：

[1] Huazhong Univ Sci & Technol, Sch Econ, Wuhan 430074, Peoples R China

来源：

FOOD POLICY | 2012年 / 37卷 / 03期

基金：

中国国家自然科学基金;

关键词：

Food industry; Corporate social responsibility; Event study; Investors' behaviors; Emerging markets; FINANCIAL PERFORMANCE; PRODUCT RECALLS; EVENT; DETERMINANTS; INVESTMENT; STRATEGY; RETURNS; MARKETS; SAFETY; VALUES;

D O I：

10.1016/j.foodpol.2012.03.003

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

Using the melamine contamination incident in China as an exogenous shock, this paper studies how the investors respond to corporate social responsibilities (CSRs) of listed firms in food industry. We find that investors' or consumers' concerns for CSR in the food industry could be significantly influenced by the mounting attention given to CSR-related events. This study offers important policy implications. First, the government, as well as supervisors, should release appropriate policies to improve various firms' activities on CSR, especially in the food industry. Second, firms, particularly those in the food industry, can obtain long-term benefits by strengthening their CSR-related activities. (C) 2012 Elsevier Ltd. All rights reserved.

引用

页码：323 / 334

页数：12