This research investigates whether more corporate social responsibility (CSR) disclosure results in lower volatility of future earnings, higher analysts’ forecast accuracy, and lower future cost of capital. We use textual analysis on the content of the CSR reports. The sample includes Taiwanese listed companies from 2004 to 2013. The empirical results show that the more CSR information is disclosed, the lower volatility of future earnings, the higher analysts’ forecast accuracy, and the lower future cost of capital.