Free Cash Flow, Corporate Social Responsibility and Enterprise Value: An Empirical Analysis Based on Listed High-tech Enterprises

DOI

10.2991/icmess-18.2018.353How to use a DOI?

Keywords

Corporate social responsibility; Free cash flow; Enterprise Value; High-tech companies

Abstract

For companies and managers, corporate value has always been the focus. However, whether the traditional research results are suitable for high-tech enterprises remains to be discussed. After all, high-tech companies have some unique features. If high-tech companies do not see this clearly and blindly adopt common practices to enhance corporate value, the results obtained may not meet their expectations. So this paper uses the balanced panel data of listed companies which were identified as high-tech enterprises in 2008 to explore the relationship among listed high-tech companies' social responsibility, free cash flow, and corporate value. The results of our research show that there is a positive correlation between the free cash flow and the corporate value of listed high-tech companies; the listed high-tech companies' commitment to social responsibility will reduce their corporate value.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Dan Han
AU  - Xuemei Chen
PY  - 2018/06
DA  - 2018/06
TI  - Free Cash Flow, Corporate Social Responsibility and Enterprise Value: An Empirical Analysis Based on Listed High-tech Enterprises
BT  - Proceedings of the 2018 2nd International Conference on Management, Education and Social Science (ICMESS 2018)
PB  - Atlantis Press
SP  - 1606
EP  - 1610
SN  - 2352-5398
UR  - https://doi.org/10.2991/icmess-18.2018.353
DO  - 10.2991/icmess-18.2018.353
ID  - Han2018/06
ER  -