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Article Dans Une Revue Journal of Asset Management Année : 2022

Explainable artificial intelligence modeling for corporate social responsibility and financial performance

Résumé

In this paper, we examine the relation between corporate social responsibility and corporate financial performance in a bullish market. Previous studies have heterogeneous results, mainly due to differences in the samples and statistical approaches used. To resolve these issues, we use an innovative approach through explainable artificial intelligence (XAI). To reflect the recent expansions of CSR practices, we propose a longitudinal analysis of the US market from 2014-2019. We find that in a bullish market, CSR is negatively related to financial market performance. Through the use of XAI, we show that CSR exclusively improves the financial performance of the most sustainable companies. We also highlight the existence of thresholds that modify the relation between the level of CSR and our financial variables.

Dates et versions

hal-03828590 , version 1 (25-10-2022)

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Julien Lachuer, Sami Ben Jabeur. Explainable artificial intelligence modeling for corporate social responsibility and financial performance. Journal of Asset Management, 2022, ⟨10.1057/s41260-022-00291-z⟩. ⟨hal-03828590⟩
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