Integrating corporate image of corporate social responsibility, stock price crash risk and profitability into a dynamic corporate sustainability performance measurement

Li-Ting Yeh ()
Additional contact information
Li-Ting Yeh: Feng Chia University

Annals of Operations Research, 2021, vol. 305, issue 1, No 13, 325-345

Abstract: Abstract In this study, we develop an approach that integrates corporate image of corporate social responsibility (CSR) activities, stock price crash risk and profitability into a dynamic slack-based measure model to evaluate corporate sustainability performance. We illustrate our methodology by applying it empirically to examine the sustainability performance of firms that won a Top 50 Corporate Citizenship Award from the Commonwealth Magazine of Taiwan. Our proposed model yields an accurate estimation of time-specific dynamic corporate sustainability performance over multiple periods. Specifically, we find that it is essential to integrate the corporate image of CSR activities into the evaluation of dynamic corporate sustainability performance. We also find that performance results have a better explanation and practical significance to the actual situation. Thus, our performance ranking results and cluster analysis can help stakeholders identify investment decisions as they seek out the most worthwhile investment firms and groups of firms. Additionally, our findings can help policymakers identify inter-temporal corporate sustainability performance trends.

Keywords: Data envelopment analysis; Corporate social responsibility; Corporate sustainability performance; Profitability; Stock price crash risk (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://link.springer.com/10.1007/s10479-021-04182-1 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:annopr:v:305:y:2021:i:1:d:10.1007_s10479-021-04182-1

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10479

DOI: 10.1007/s10479-021-04182-1

Access Statistics for this article

Annals of Operations Research is currently edited by Endre Boros

More articles in Annals of Operations Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().