活動起日：2014-10-14 發佈日期：2014-10-14 瀏覽數：1790 2017-02-12 更新
The related seminar information on 17th of October is as follow,
Seminar Date: 17 October, 2014 (Friday)
Seminar Time: 10:30 a.m. - 12:00 p.m.
Seminar Venue: Room 405, 4F, Building 1, College of Management
Speaker: Prof. Hsiang-Hsuan Chih
Title: Innovation or Overinvestment? Overconfident Managers, Corporate Social Responsibility, and Firm Performance
This paper investigates how overconfident managers and corporate social responsibility (CSR) performance impact on corporate performance. Literature has shown that overconfidence would influence shareholder value by increasing investment in risky projects. In this paper, CSR performance is measured from different perspectives of corporate stakeholders (including community, diversity, employee relations, environment, human rights, product, and innovation). Using options-based proxies for CEO overconfidence, we find that, in the period between 1993 and 2012, firms with overconfident CEOs are more inclined to engage in CSR activities, but that brings significant negative impacts on corporate financial performance. However, we find some CSR activities still have positive impacts on corporate performance if a firm can focus its CSR activities on environment protection and product innovation.