The non-linear effect of CSR on firms’ systematic risk: International evidence

Tazrina Farah,Jialong Li,Zhicheng Li,Abul Shamsuddin

Journal of International Financial Markets, Institutions and Money（2021）

引用 24|浏览6

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摘要

•Firm’s CSR and systematic risk exhibits an inverted U-shaped pattern.•Firm’s CSR engagement should exceed a threshold level for risk reduction.•Degree of operating leverage is the channel through which CSR influence risk.•National CSR sustainability and legal environment moderate the CSR–risk relationship.

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关键词

CSR,Systematic risk,Degree of operating leverage,Inverted U-shape

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