Risk and return efficiency of manufacturing firms: Integrating corporate social responsibility performance

被引：0
作者：
Martinez-Victoria, MCarmen [1 ]
Lansink, Alfons Oude [2 ]
机构：
[1] Univ Almeria, Econ & Business Dept, Ctra Sacramento S-N La Canada San Urbano, Almeria 04120, Spain
[2] Wageningen Univ, Business Econ Grp, Wageningen, Netherlands
来源：
CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT | 2024年 / 31卷 / 05期
关键词：
corporate social responsibility; data envelopment analysis; efficiency analysis; latent class analysis; risk-return; LATENT STRUCTURE-ANALYSIS; FINANCIAL PERFORMANCE; PRODUCTIVITY GROWTH; CSR; INDUSTRY; INVESTMENT; MANAGEMENT; REPUTATION; REGRESSION; POWER;
D O I：
10.1002/csr.2766
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper uses Data Envelopment Analysis to assess the performance of stocks in terms of return on assets, risk and their Environmental-Social-Governance score. Next, latent class analysis (LCA) is used to determine groups with similar performances and relates group membership to a set of covariates. The empirical application employs a set of 139 European manufacturing companies from 2016 to 2021 period. The results suggest stocks on average perform 25% below their potential in each of the three dimensions. The LCA suggests five groups and membership of lower performance classes significantly relates with lower size, R&D expenses and Tobin's Q.
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页码：3735 / 3744
页数：10
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