Abstract
In recent years, the importance of Corporate Social Responsibility (CSR) activities has been increasing. Although it had been thought that CSR activities may increase the cost and result in the decrease of corporate financial performance, recent studies has reported CSR activities raise corporate value. However, while there are various CSR activities, the impact of the difference of CSR activities' characteristics on corporate value is unclear. Thus, this study attempted to clarify the difference of the characteristics of some Japanese companies' CSR activities and analyze the impact of those difference on corporate value quantitatively. We provided suggestions to achieve both active CSR activity and increasing corporate value effectively.
