Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)

A two-level portfolio model based on expected values of corporate social responsibility

Authors
Xiong Deng1, 2, *, Yan li Liu3
1Graduate School of Advanced Science and Engineering, Hiroshima University, Higashi-Hiroshima, 7398-527, Japan
2Software Engineering School, Anyang Normal University, Anyang, 455-000, China
3Library Anyang Normal University, Anyang, 455-000, China
*Corresponding author. Email: d204465@hiroshima-u.ac.jp Email: dx430302@aynu.edu.cn
Corresponding Author
Xiong Deng
Available Online 28 September 2023.
DOI
10.2991/978-94-6463-260-6_69How to use a DOI?
Keywords
corporate social responsibility; portfolio; expected value; multi-level model
Abstract

Modern economic theory believes that enterprises, one of the stock issuers in the financial market, serve as a fundamental "mechanism for resource allocation". The theory also holds that the mechanism can achieve the optimal allocation of the entire economic resources while simultaneously reducing the "transaction costs" of the entire society. However, the shortsightedness and profit-seeking nature of enterprises lead to enormous issues with economic development. These issues include excessive consumption of resources, continuous accumulation of industrial pollution, and the deteriorating ecological environment, triggering a series of social, environmental, and economic problems. Hence, solving the contradiction between economic growth and environmental protection, and achieving sustainable economic and social development has become an urgent problem to be solved. Corporate social responsibility receives increasing attention nowadays, and more and more scholars are carrying out their research. The present research constructs a multi-level portfolio model based on expected values of corporate social responsibility. In particular, the research utilizes the stock returns and corporate social responsibility performance of Chinese listed companies to analyze the relationship between them. The research shows that the stock returns of Chinese-listed companies are negatively correlated with their social responsibilities.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
28 September 2023
ISBN
978-94-6463-260-6
ISSN
2352-5428
DOI
10.2991/978-94-6463-260-6_69How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

TY  - CONF
AU  - Xiong Deng
AU  - Yan li Liu
PY  - 2023
DA  - 2023/09/28
TI  - A two-level portfolio model based on expected values of corporate social responsibility
BT  - Proceedings of the 2023 International Conference on Management Innovation and Economy Development (MIED 2023)
PB  - Atlantis Press
SP  - 551
EP  - 559
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-260-6_69
DO  - 10.2991/978-94-6463-260-6_69
ID  - Deng2023
ER  -