Title: From the ISO26000 perspective: does corporate social responsibility influence corporate value?

Authors: Tomoya Maki; Ling Feng

Addresses: Faculty of Science and Technology, Tokyo University of Science, 2641 Yamasaki, Noda, Chiba 278-8510, Japan ' Faculty of Science and Technology, Tokyo University of Science, 2641 Yamasaki, Noda, Chiba 278-8510, Japan

Abstract: Corporate social responsibility (CSR) has drawn increased attention in the past decade. Consequently, many organisations are in need of international guidance for implementing CSR. From the International Organization for Standardization (ISO) 26000 perspective, the present study examines the evolution of CSR activities and the relationship between CSR and financial performance or corporate value. Using the random forests model to rank CSR activities, this study found that CSR changed from environmental and compliance activities to philanthropic endeavours. Then, using multiple linear regression analysis, this study found that in the short-term, there is no relationship between CSR and financial performance when measured by return on assets (ROA), return on equity (ROE), and return on sale (ROS). However, in the long-term, the findings show that there is a relationship between CSR activities and corporate value.

Keywords: corporate social responsibility; CSR; corporate value; ISO26000; long-term perspectives; random forests.

DOI: 10.1504/AJMSA.2018.091004

Asian Journal of Management Science and Applications, 2018 Vol.3 No.2, pp.97 - 116

Received: 28 Aug 2016
Accepted: 26 Apr 2017
Published online: 06 Apr 2018 *

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