The impact of corporate social responsibility activities on stock prices of publicly listed companies in the Philippines

This thesis is an extensive study to measure the impact of the corporate social responsibility (CSR) activities on the stock prices of selected publicly listed companies in the Philippines. Due to the growth in interest of stakeholders, including investors and shareholders, on the area, corporations took into consideration social responsibility with hopes of better business in terms of firm value. Existing studies supply inconsistent conclusions as factors such as business cultures, level of necessity and government initiatives are brought into play. Concurrently, this thesis aims to measure and provide an analysis on the effects of CSR activities on the stock prices of publicly listed Philippines companies and determine whether the methods and results of previous research would prove the same. Using environmental, employment and community involvement aspects in getting the total CSR score as independent variable, firm size, profitability, financial leverage and operating risk as control variables, and stock price as dependent variable to determine the relationship of CSR activities to business and consequently stock prices, the analysis would indicate whether implementing these activities would effectively benefit the companies or not