Journal
FOOD POLICY
Volume 37, Issue 3, Pages 323-334Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.foodpol.2012.03.003
Keywords
Food industry; Corporate social responsibility; Event study; Investors' behaviors; Emerging markets
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Funding
- National Natural Science Foundation of China [71173078, 70803013]
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Using the melamine contamination incident in China as an exogenous shock, this paper studies how the investors respond to corporate social responsibilities (CSRs) of listed firms in food industry. We find that investors' or consumers' concerns for CSR in the food industry could be significantly influenced by the mounting attention given to CSR-related events. This study offers important policy implications. First, the government, as well as supervisors, should release appropriate policies to improve various firms' activities on CSR, especially in the food industry. Second, firms, particularly those in the food industry, can obtain long-term benefits by strengthening their CSR-related activities. (C) 2012 Elsevier Ltd. All rights reserved.
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