Institutional investors are less likely to support shareholder proposals involving environmental and social issues for firms headquartered in Republican-led states. The lower support concentrates in recent years, when politicians became more vocal about firms' social responsibility activities,...

This paper assesses whether shareholders drive the environmental and social (E&S) performance of firms worldwide. Across 41 countries, we find that institutional ownership is positively associated with E&S performance with additional tests suggesting this relation is causal. Our evidence shows...

We propose a novel way of measuring the equity portfolio-level environmental and social characteristics of a 13F institution (the “sustainability footprint”) and examine the relation between sustainability footprints and risk-adjusted investment performance. The analysis shows that 13F...

This paper presents a conceptual framework for understanding the non-financial performance of firms through the lens of the OECD Well-being Framework. Building on existing approaches for measuring non-financial performance, it proposes a measurement framework and indicator set for what may be...

Motivated by the public debate regarding corporate responsibility, we construct a memory-based model of decision-making to illustrate how corporate and political communication can impact policy preferences. We test the predictions of our model in a new large-scale survey of U.S. citizens on...

Corporate Social Responsibility (CSR) has become a central issue of business management in recent years. This study aims to add to the literature by pointing out the relevance of CSR for a Sustainable Human Resource Management (HRM). In particular this research investigates job seekers’...

Some companies engage in mass fundraising - where thousands of recipients are asked to make small donations - in addition to their core business. Via a corpo-rate social responsibility (CSR) channel this may increase sales. However, recent research uncovered significant "ask avoidance" which, if...

This study investigates whether corporate social responsibility (CSR) mitigates or contributes to stock price crash risk. Crash risk, defined as the conditional skewness of return distribution, captures asymmetry in risk and is important for investment decisions and risk management. If socially...

The relationship between sustainability performance and sustainability disclosure remains ambiguous, both theoretically and empirically. Voluntary disclosure theory would suggest that the relationship should be positive, whereas legitimacy theory points toward a negative relationship. However,...

Drawing on Pierre Bourdieu's theory of social practice this paper develops a novel approach to the study of CSR. According to this approach, pro-social activities are conceptualized as social practices that are employed by individual managers in their personal struggles for social power. Whether...