From Compliance to Value: Does Sports-Certified Firms’ CSR Performance Really Enhance Brand Value?

From Compliance to Value: Does Sports-Certified Firms’ CSR Performance Really Enhance Brand Value? | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Article From Compliance to Value: Does Sports-Certified Firms’ CSR Performance Really Enhance Brand Value? Huei-Fu Lu This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-8180679/v1 This work is licensed under a CC BY 4.0 License Status: Under Review Version 1 posted 4 You are reading this latest preprint version Abstract This study investigates listed companies in Taiwan that have obtained sports enterprise certification, examining how three dimensions of corporate social responsibility (CSR)—environmental, social, and governance (ESG)—together with financial performance affect brand value. Using longitudinal financial data and Taiwan ESG (TESG) sustainability indicators from 2019 to 2023, this study integrates the Hirose brand valuation model with a panel regression analysis. Firm size and financial performance were the primary determinants of brand value, whereas the direct effects of the three CSR dimensions were not statistically significant, suggesting that CSR initiatives encounter difficulty translating into brand value in the short term. From a managerial perspective, sports enterprises aiming to enhance brand value should strengthen resource allocation, ensure the authenticity and long-term orientation of their CSR activities, and closely align them with core brand values to avoid superficial practices. Future research could extend the observation period or incorporate qualitative approaches to examine the long-term and indirect effects of CSR on brand value. Business and commerce/Business and management Social science/Business and management Earth and environmental sciences/Environmental social sciences Business and commerce/Finance Social science/Finance corporate social responsibility sports enterprise certification brand value sustainable development panel data Full Text Additional Declarations No competing interests reported. Cite Share Download PDF Status: Under Review Version 1 posted Editorial decision: Revision requested 04 Dec, 2025 Editor assigned by journal 03 Dec, 2025 Submission checks completed at journal 28 Nov, 2025 First submitted to journal 22 Nov, 2025 You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. 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