No abstract

This study examines the impact of CSR activities on corporate financial performance by using data from 514 listed companies in Taiwan during the period of the 2008 financial crisis. To measure the CSR performance, this study refers to independent international CSR valuation institutions to compile CSR indicators for individual Taiwanese firms. The results show that CSR activities before the 2008 financial crisis are associated with positive stock returns during the crisis. In addition, after comparing the in-crisis and post-crisis periods, it is found that CSR indeed offers an insurance value for a firm's stock performance during the crisis period. We conclude that CSR does play a protective role for firms when a market encounters a widespread trust crisis. Furthermore, the results highlight the importance of wider engagement in CSR practices for firms, not only to boost their reputation but also for the insurance value, which will pay off during unexpected negative trust events. Contribution/Originality:This study uses a new estimation methodology to evaluate the CSR performance of listed firms in Taiwan during the financial crisis period. The paper not only addresses the problem of a lack of consistent CSR metrics for firms in a developing economy but also proposes a reasonable method for evaluating these firms' environmental efforts. INTRODUCTIONWith the collapse of Lehman Brothers during the financial crisis of 2007-2008, the trust in the global capital market was eroded, highlighting the importance of Corporate Social Responsibility (CSR) investments at the firm level. According to a recent study, Lins, Servaes, and Tamayo (2017) suggest that firm-specific social capital can be viewed as an insurance policy that pays off when stakeholders, as well as the entire economy, are faced with a serious trust crisis. Other studies demonstrate that social performance creates not only wealth-enhancing value but also insurance value that is captured in stock markets (Ducassy, 2013;Oikonomou, Brooks, & Pavelin, 2012).In recent decades, CSR has gained worldwide attention in various industries. The scholarly definition of CSR approaches is relatively broad, and it is commonly understood as the methods by which companies integrate social, environmental, and stakeholder concerns in their business operations (European Commission, 2011). The development of CSR involves high levels of attention not only to conducting CSR activities but also to maximizing

No abstract

<abstract> <p>The electrostatics of two cylinders charged to the symmetrical or anti-symmetrical potential is investigated by using the null-field boundary integral equation (BIE) in conjunction with the degenerate kernel of the bipolar coordinates. The undetermined coefficient is obtained according to the Fredholm alternative theorem. The uniqueness of solution, infinite solution, and no solution are examined therein. A single cylinder (circle or ellipse) is also provided for comparison. The link to the general solution space is also done. The condition at infinity is also correspondingly examined. The flux equilibrium along circular boundaries and the infinite boundary is also checked as well as the contribution of the boundary integral (single and double layer potential) at infinity in the BIE is addressed. Ordinary and degenerate scales in the BIE are both discussed. Furthermore, the solution space represented by the BIE is explained after comparing it with the general solution. The present finding is compared to those of Darevski ^{[<xref ref-type="bibr" rid="b2">2</xref>]} and Lekner ^{[<xref ref-type="bibr" rid="b4">4</xref>]} for identity.</p> </abstract>

In this paper, the available formulae for the curvature of plane curve are reviewed not only for the time-like but also for the space-like parameter curve. Two ways to describe the curve are proposed. One is the straight way to obtain the Frenet formula according to the given curve of parameter form. The other is that we can construct the curve by solving the state equation of Frenet formula subject to the initial position, the initial tangent, normal and binormal vectors, and the given radius of curvature and torsion constant. The remainder theorem of the matrix and the Cayley–Hamilton theorem are both employed to solve the Frenet equation. We review the available formulae of the radius of curvature and examine their equivalence. Through the Frenet formula, the relation among different expressions for the radius of curvature formulae can be linked. Therefore, we can integrate the formulae in the engineering mathematics, calculus, mechanics of materials and dynamics. Besides, biproduct of two new and simpler formulae and the available four formulae in the textbook of the radius of curvature yield the same radius of curvature for the plane curve. Linkage of centrifugal force and radius of curvature is also addressed. A demonstrative example of the cycloid is given. Finally, we use the two new formulae to obtain the radius of curvature for four curves, namely a circle. The equivalence is also proved. Animation for 2D and 3D curves is also provided by using the Mathematica software to demonstrate the validity of the present approach.