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Full-Text Articles in Business
Obtaining Intangible And Tangible Benefits From Corporate Social Responsibility, Wei Nurn Chong, Gilbert Tan
Obtaining Intangible And Tangible Benefits From Corporate Social Responsibility, Wei Nurn Chong, Gilbert Tan
Research Collection Lee Kong Chian School Of Business
The relationship between corporate social responsibility (CSR) and corporate financial performance has been heavily studied in past research. However, little theory has been developed on how CSR may lead to greater corporate financial performance. In this paper, the authors attempt to fill this theoretical gap by explaining how CSR leads to the tangible benefits of attracting better employees, reduced turnover rate, greater efficiency, and reduced operating costs, via the intangible benefits of firm reputation, organizational commitment, and learning. Thereafter, managerial implications and further research opportunities are discussed.
Corporate Valuation Around The World: The Effects Of Governance, Growth, And Openness, Choong Tze Chua, Cheol S. Eun, Sandy Lai
Corporate Valuation Around The World: The Effects Of Governance, Growth, And Openness, Choong Tze Chua, Cheol S. Eun, Sandy Lai
Research Collection Lee Kong Chian School Of Business
The purpose of this paper is to provide a comprehensive analysis of corporate valuation around the world. Specifically, we (i) document and compare corporate valuation around the world, and (ii) identify the key factors that drive cross-country differences in valuation. In doing so, we utilize the country-level Tobin's q (CTQ), computed as the ratio of the aggregate market value to book value of all assets held by all public firms domiciled in a country, which amounts to the Tobin's q for the [`]market portfolio' of the country. The key findings of the paper are: First, CTQ varies greatly across countries, …