题 目：The Effect of Managerial Ability on Corporate Social Responsibility and Firm Value in the Energy Industry（管理者能力、企业社会责任和能源行业公司价值）
主讲人：龚玉晶 助理教授 中南财经政法大学文澜学院
主持人：易兰丽 讲师 北京邮电大学
We investigate the role of managerial ability in the relationship between corporate social responsibility (CSR) and firm performance in the energy industry, where sustainability issues are of special interest. We first identify a positive association between CSR and firm value, which, however, disappears when considering managerial ability. Only the MA-associated components of CSR increases energy firms’ value. Finally, managers with superior ability can still efficiently implement CSR activities to foster firm value during the energy crisis. Taken together, these results suggest that higher managerial ability is a crucial certification of the benefit of CSR investment, which in turn improves firm value, particularly during unstable periods.
龚玉晶，博士，中南财经政法大学助理教授。主要研究领域：公司金融、实证资产定价、行为金融学。已在Pacific-Basin Finance Journal, Journal of Forecasting, Asia-Pacific Journal of Accounting & Economics等SSCI期刊上发表论文多篇。