SOCIAL CONTRIBUTION VALUE PER SHARE: AN EMPIRICAL TEST

UM > Faculty of Business Administration > DEPARTMENT OF ACCOUNTING AND INFORMATION MANAGEMENT

Status	已發表Published
	SOCIAL CONTRIBUTION VALUE PER SHARE: AN EMPIRICAL TEST
	Zhang, S; Chu, T.; Noronha, C.; Guan, J
	2019-07-03
Source Publication	9th Asia Pacific Interdisciplinary Research in Accounting (APIRA)
Abstract	Purpose – Given the different role of each stakeholder plays within the framework of Corporate Social Responsibility (CSR), this paper aims to fill the research gap by analyzing the stock market value relevance of each component of Social Contribution Value Per Share (SCVPS), which is one of the Measurements of Social Performance (MSPs) rooted from China. In addition, this paper intends to demonstrate that the information content provided by SCVPS components varies with the nature of industries and firms. Methodology – By collecting and using the values of SCVPS components of Chinese Alisted companies over 2008-2016, this research conducts panel data regression analysis. In addition, separate regressions are conducted for different industries as well as firm groups with different nature including the headquarter location, state ownership and profitability. Findings – The results demonstrate the information content of SCVPS in the Chinese stock market beyond the traditional accounting measures. Therefore, the paper reveals that SCVPS can be regarded as the quality signal of the company that the listed company actively transmits to the market. In addition, the information content of SCVPS varies with the firm and industry nature. Originality/Value – This paper contributes to the CSR analysis by offering critical insights to how social value generation can influence firms’ stock market performance. In addition, the varying information content of SCVPS components across industry and firms demonstrates the need of understanding resources as the contested terrain for firms. Moreover, by revealing the strong impact of corporate social value generation in the capital market, this paper promotes an urgent need for the creation and coordination of social value as well as the social accounting and reporting manifestation.
Keyword	Social Contribution Value Per Share (SCVPS) CSR Value Relevance China
Language	英語English
The Source to Article	PB_Publication
PUB ID	44631
Document Type	Conference paper
Collection	DEPARTMENT OF ACCOUNTING AND INFORMATION MANAGEMENT
Recommended Citation GB/T 7714	Zhang, S,Chu, T.,Noronha, C.,et al. SOCIAL CONTRIBUTION VALUE PER SHARE: AN EMPIRICAL TEST[C], 2019.
APA	Zhang, S., Chu, T.., Noronha, C.., & Guan, J (2019). SOCIAL CONTRIBUTION VALUE PER SHARE: AN EMPIRICAL TEST. 9th Asia Pacific Interdisciplinary Research in Accounting (APIRA).

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