Showing 1 - 10 of 27
We study the extent to which a firm’s social capital, as measured by the intensity of a firm’s corporate social responsibility (CSR) activities, affects firm performance during the 2008-2009 financial crisis. We find that high-CSR firms have crisis-period stock returns that are four to five...
Persistent link: https://www.econbiz.de/10011165644
We study the relationship between employee satisfaction and abnormal stock returns around the world, using lists of the “Best Companies to Work For” in 14 countries. We show that employee satisfaction is associated with positive abnormal returns in countries with high labor market...
Persistent link: https://www.econbiz.de/10011083605
This paper presents an industry equilibrium model where firms can choose to engage in corporate social responsibility (CSR) activities. We model CSR activities as an investment in customer loyalty and show that CSR decreases systematic risk and increases firm value. These effects are stronger...
Persistent link: https://www.econbiz.de/10011083749
When stakeholder protection is left to the voluntary initiative of managers, relations with social activists may become … increased by the institutionalization of stakeholder protection depriving incumbent CEOs of activists’ support. This finding … to stakeholder protection even in case of managerial replacement. Our theory also explains a recent trend whereby social …
Persistent link: https://www.econbiz.de/10005504332
Researchers debate whether environmental investments reduce firm value or can actually improve financial performance. We provide some first evidence on shareholder wealth effects of voluntary corporate environmental initiatives. Companies announcing membership in Climate Leaders and Ceres - two...
Persistent link: https://www.econbiz.de/10005662265
Over the last decades, both Canada and Sweden have liberalized citizenship regulations for permanent residents. During … immigrants arriving from non-western countries. The aim of this paper is to explore the link between citizenship and employment …. We use instrumental variable regression to examine the 'clean' impact of citizenship acquisition and the size of the co …
Persistent link: https://www.econbiz.de/10008874618
There are concerns about the attachment of immigrants to the labor force, and the potential policy responses. This paper uses a bi-national survey on immigrant performance to investigate the sorting of individuals into full-time paid-employment and entrepreneurship and their economic success....
Persistent link: https://www.econbiz.de/10005123900
differentiating between actual and planned citizenship. Using the German Socio-Economic Panel, we measure the impact that integration … characteristics. A robust finding is that German citizenship is very valuable to female immigrants and the generally better educated … on citizenship acquisition. While a longer residence in Germany has a negative influence on actual or future …
Persistent link: https://www.econbiz.de/10005124484
Our study examines the empirical link between the naturalization of immigrants and their subsequent employment status in France from 1968 to 1999. For that purpose, we use longitudinal data coming from a panel dataset which follows almost 1% of the French population from 1968 to 1999 through...
Persistent link: https://www.econbiz.de/10005667052
We study charitable giving within social groups. Exploiting a unique dataset, we establish three key relationships between social group size and fundraising outcomes: (i) a positive relationship between group size and the total number of donations; (ii) a negative relationship between group size...
Persistent link: https://www.econbiz.de/10011084626