Climate Change Risk and Firm Value under Corporate Social Responsibility Engagement

dc.contributor.authorKhan, Muhammad Asif
dc.contributor.authorBagh, Tanveer
dc.contributor.authorHull, Robert M.
dc.dateAugust 2023
dc.date.accessioned2023-09-19T20:34:34Z
dc.date.available2023-09-19T20:34:34Z
dc.date.issued2023-08-01
dc.description.abstractOur firm-specific study offers a logical trajectory of tests to illustrate how a firm's climate change risk (CCR) can enhance firm value (FV). This trajectory begins by establishing a significant negative association between CCR and FV and a significant positive association between CCR and corporate social responsibility (CSR) engagement. Given this knowledge, we deduce that CSR engagement can have a possible net positive impact on FV. To confirm this possibility, we simultaneously test the dual impact of CSR engagement on FV consisting of (i) its direct impact on FV and (ii) its moderating impact on FV via reducing the negative influence of CCR on FV. We find that both impacts on FVare positive and significant. This indicates the potential capacity of CSR to overcome the negative impact of CCR on FV rendering a net outcome that is value-enriching. We conclude that decision-makers should undertake optimal CSR engagement to combat CCR so that they can achieve the ultimate outcome of maximum FV and global wealth within the confines of sustainable development.
dc.description.sponsorshipKaw Valley Bank
dc.format.mediumPDF
dc.identifier.otherSchool of Business Working Paper Series; No. 251
dc.identifier.urihttps://hdl.handle.net/10425/3598
dc.language.isoen_US
dc.publisherWashburn University. School of Business
dc.subjectClimate change risk
dc.subjectCorporate Social Responsibility (CSR) - Engagement
dc.subjectFirm value
dc.titleClimate Change Risk and Firm Value under Corporate Social Responsibility Engagement
dc.typeWorking Paper
Files
Original bundle
Now showing 1 - 1 of 1
Loading...
Thumbnail Image
Name:
SoBu Working Paper No. 251.pdf
Size:
2.27 MB
Format:
Adobe Portable Document Format
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
2.34 KB
Format:
Item-specific license agreed upon to submission
Description: