Emisja komunikatów o działaniach w zakresie społecznej odpowiedzialności a wartość dla akcjonariuszy
The relation between corporate social responsibility activities’ announcements and shareholder value

Summary/Abstract: The purpose of the study was to determine the relationships between the companies’ announcements on corporate social responsibility and their shareholder value. The research relied on abnormal returns achieved by the firms as a result of the press releases concerning various types of social responsibility activities. The sample encompassed 40 press releases of the three companies listed on the London Stock Exchange (Reckitt Benckiser Group, LG Electronics, Electrocomponents) over the period of 2010-2015. These companies represented respectively very high, high and medium level of CSR involvement. A positive correlation between corporate social responsibility activities and shareholder value was found, however the strength and direction of the relationship may vary depending on the type of activity. The research delivered in the study will enable managers to intentionally choose and communicate these types of social responsibility activities that contribute to the increase of shareholder value the most.

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