Yungchih G. Wang, Wen-Hsi L. Hsu, and Kuang-Wen Chang
Corporate social responsibility, corporate social responsibility index, socially responsible investment, stakeholders, firm performance
This study aimed to empirically explore how a firm’s fulfilling corporate social responsibility (CSR) would impact on firm performance. For this research purpose, a CSR index (CSRI), based on the ideas of socially responsible investment (SRI) and corporate contributions to its stakeholders, was constructed to measure the degree that a firm fulfilled its CSR. The data were sampled from the publicly listed firms on Taiwan Stock Exchange (TWSE) and from the database of Taiwan Economic Journal (TEJ ) for the time period of 2004–2009. With the method of regression analysis, the findings revealed that fulfilling CSR had a significantly positive impact on firm performance. The implication suggested that a firm could serve as a good corporate citizen, while in the meantime showing an exceptional firm performance.
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