This paper studies the large-scale enterprises that have won the awards of the world's corporate citizenship awards in each year. The research will be reflected in the company's stock returns from the 10 day before the award to the 10 day after the award. This study uses the event research method to explore whether fluctuations in the stock market value when an event occurs will cause abnormal returns (AR).
The empirical method divides the sample into three types. First, the entire CSR sample from 2007 to 2018. The industrial classification is the sample of electronic stocks and electronic stocks. 3. The CSR sample of the financial storm from 2010 to 2018 is excluded. It is found that the winning company may not be able to raise the company's stock returns.
