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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Sustainability and Crisis Resilience of European Stocks in Times of Covid-19 |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Date | 2021 |
| Abstract Text | Whether engaging in corporate social responsibility (CSR) is value-enhancing is sub-ject to controversial debate in academia and praxis. The unexpected Covid-19 shock and an increased awareness to and demand for CSR during the Covid-19 pandemic give incentive to re-examine the relationship between CSR and financial performance. In a cross-sectional analysis of European firms, I find that CSR ratings are unrelated with stock performance during crisis and recovery periods around Covid-19. The find-ings are robust against using different variations of CSR scores. They also hold for industry- and country-specific analyses. Thus, CSR does translate into increased crisis resilience for European stocks. |
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