Empirical research of corporate social responsibility's influence on stock price

Corporate social responsibility (CSR) leads to some effects to companies, such as reputation, insurance and moral capital. These effects performed when companies experienced adverse events. The objective of this paper is based on this view. Author researched the influence of CSR on stock returns when the listed companies experienced adverse events. The empirical results showed that the influence of corporate social performance on economic performance was not a direct effect. The implementation of CSR, would lead to companies moral capital.