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Sambandet mellan Corporate Social Performance och finansiell risk: - En kvantitativ studie som undersöker nordiska företag
Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics.
2018 (Swedish)Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesisAlternative title
The relationship between Corporate Social Performance and Financial Risk : A quantitative study that examines Nordic companies (English)
Abstract [sv]

Examensarbete, Civilekonomprogrammet, Ekonomihögskolan vid Linnéuniversitetet

Författare: Gustav Johannesson och Martin Westport

Handledare: Andreas Stephan

Medbedömare: Anna Stafsudd

Titel: Sambandet mellan Corporate Social Performance och finansiell risk - En kvantitativ studie som undersöker nordiska företag

Bakgrund: Företags sociala ansvar har ständigt funnits på företagsagendan under senaste åren efter ökade globala utmaningar och större påtryckningar från intressenter. Man kan se allt större risker som är kopplade till företags hållbarhetsarbete. Med bakgrund till detta finns det ett stort intresse och en uppåtgående trend kring hållbara investeringar där Norden är ledande inom området.

Syfte: Studiens syfte är att förklara sambandet mellan Corporate Social Performance, både på en sammanslagen och individuell nivå, och finansiell risk.

Metod: Genom den deduktiva forskningsansatsen och den kvantitativa forskningsstrategin som är baserad på paneldata testar författarna sina hypoteser. Författarna bygger sina hypoteser på intressentteorin och riskhanteringsteorin som testas med ett nordiskt urval på 144 företag under tidsperioden 2002-2016.

Slutsats: Studiens resultat visar att det finns ett negativt samband mellan Corporate Social Performance och finansiell risk. Det finns även ett negativt samband mellan företags sociala prestationer och finansiell risk. Detta är i linje med författarnas förväntningar. Däremot visar resultatet inga samband mellan företags miljömässiga och styrningsmässiga prestationer och deras finansiella risk.

Abstract [en]

Degree Project, The Business Administration and Economics Programme, School of Business and Economics at Linnaeus University

Authors: Gustav Johannesson and Martin Westport

Supervisor: Andreas Stephan

Co-assessor: Anna Stafsudd

Title: The relationship between Corporate Social Performance and Financial Risk - A quantitative study that examines Nordic companies

Background: Corporate Social Responsibility has been on the corporate agenda in recent years following increased global challenges and greater pressure from stakeholders. One can see more risks associated with corporate sustainability. This has led to a great interest globally and an upward trend in Socially Responsible Investing where the Nordic region is at the leading edge.

Purpose: The purpose of the study is to explain the relationship between Corporate Social Performance, both at a combined and an individual level, and financial risk.

Method: Through the deductive research approach and the quantitative research strategy that is based on panel data, the authors test their hypotheses. The authors base their hypotheses on stakeholder theory and risk management theory and test them with a Nordic sample of 144 companies over the period 2002-2016.

Conclusion: The study results show that there is a negative relationship between Corporate Social Performance and financial risk. There is also a negative relationship between social performance and financial risk. This is in line with the authors’ expectations. However, the results show no relationship between companies’ environmental and governance performance and their financial risk.

Place, publisher, year, edition, pages
2018. , p. 109
Keywords [en]
Corporate Social Performance (CSP), Environmental, Social & Governance (ESG), Financial risk, Nordic market, Socially Responsible Investing, Stock volatility
Keywords [sv]
Corporate Social Performance (CSP), Miljömässiga, sociala & styrningsmässiga (ESG) faktorer, Finansiell risk, Nordiska marknaden, Socialt ansvarsfulla investeringar, Volatilitet
National Category
Business Administration
Identifiers
URN: urn:nbn:se:lnu:diva-75421OAI: oai:DiVA.org:lnu-75421DiVA, id: diva2:1215773
Subject / course
Business Administration - Other
Educational program
Business Administration and Economics Programme, 240 credits
Supervisors
Examiners
Available from: 2018-06-11 Created: 2018-06-09 Last updated: 2018-06-11Bibliographically approved

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