Does Corporate Social Responsibility Improve Financial Performance? Evidence from the Perspective of Employee

• Main Authors: YEH, YEU-SHU, 葉宇書
• Other Authors: HUNG, YU-SHUN
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/32w6fx

碩士 === 輔仁大學 === 會計學系碩士班 === 107 === As time goes by, the World has become a Global Village. As a result of the environmental changes and the rising awareness for human rights, Corporate social responsibility (CSR) has become one of the standard business practices and employee is the primary individual of CSR activities. Our empirical analysis will test whether employee turnover would affect the financial performance of firms with the intensity change of CSR activities or not. Our final sample consists of 12,694 firm-year observations from 2007 to 2017 in the Taiwan Economic Journal (TEJ) database. The empirical results show that CSR activities were related to decreased employee turnover and lower employee turnover lead to an increase of financial performance. From the intensity of CSR activities, we found there is a negative correlation among employee turnover and financial performance when firms engaged in less CSR activities. However, the impact of employee turnover on financial performance is limited in high CSR firms (i.e., firms with CSR performance higher than the sample median).