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Corporate Social Responsibility Through an Economic Lens

Reinhardt, Forest L. - 2008

social responsibility" (CSR), particularly in the realm of environmental protection. Beyond complete compliance with …

Persistent link: https://www.econbiz.de/10012464657

The Impact of Corporate Sustainability on Organizational Processes and Performance

Eccles, Robert G. - 2012

We investigate the effect of corporate sustainability on organizational processes and performance. Using a matched sample of 180 US companies, we find that corporations that voluntarily adopted sustainability policies by 1993 - termed as High Sustainability companies - exhibit by 2009 distinct...

Persistent link: https://www.econbiz.de/10012460709

Empire-Builders and Shirkers : Investment, Firm Performance, and Managerial Incentives

Aggarwal, Rajesh K. - 1999

Do firms systematically over- or underinvest as a result of agency problems? We develop a contracting model between shareholders and managers in which managers have private benefits or private costs of investment. Managers overinvest when they have private benefits and underinvest when they have...

Persistent link: https://www.econbiz.de/10012471449

A Theory of Firm Decline

Clementi, Gian Luca - 2009

We study the problem of an investor who buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter's operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of repeated...

Persistent link: https://www.econbiz.de/10012463457

Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion

Lang, Larry - 1994

We argue that management sells assets when doing so provides the cheapest funds to pursue its objectives rather than for operating efficiency reasons alone. This hypothesis suggests that (1) firms selling assets have high leverage and/or poor performance, (2) a successful asset sale is good news...

Persistent link: https://www.econbiz.de/10012474282

A Retrospective Look at Rescuing and Restructuring General Motors and Chrysler

Goolsbee, Austan D. - 2015

This paper takes a retrospective look at the U.S. government's effort to rescue and restructure General Motors and Chrysler in the midst of the 2009 economic and financial crisis. The paper describes how two of the largest industrial companies in the world came to seek a bailout from the U.S....

Persistent link: https://www.econbiz.de/10012457667

On ESG Investing : Heterogeneous Preferences, Information, and Asset Prices

Goldstein, Itay; Kopytov, Alexandr; Shen, Lin; Xiang, … - National Bureau of Economic Research - 2022

We study how environmental, social and governance (ESG) investing reshapes information aggregation by prices. We develop a rational expectations equilibrium model in which traditional and green investors are informed about financial and ESG risks but have different preferences over them. Because...

Persistent link: https://www.econbiz.de/10013191008

Adoption of CSR and Sustainability Reporting Standards : Economic Analysis and Review

Christensen, Hans B. - 2019

This study provides an economic analysis of the determinants and consequences of corporate social responsibility (CSR …) and sustainability reporting. To frame our analysis, we consider a widespread mandatory adoption of CSR reporting … effects of CSR activities and policies themselves. It draws on an extensive review of the relevant academic (CSR and non-CSR …

Persistent link: https://www.econbiz.de/10012480115

Toward an Understanding of Corporate Social Responsibility : Theory and Field Experimental Evidence

Hedblom, Daniel - 2019

responsibility (CSR). Our natural field experiment, in which we created our own firm and hired actual workers, generates a rich data … set on worker behavior and responses to both pecuniary and CSR incentives. Making use of a novel identification framework … treatment and selection effects of both CSR and financial incentives. Using data from more than 1100 job seekers, we find strong …

Persistent link: https://www.econbiz.de/10012480166

Going Green in China : Firms’ Responses to Stricter Environmental Regulations

Fan, Haichao - 2019

This paper examines the effect of stringent environmental regulations on firms' environmental practices, economic performance, and environmental innovation. Reducing COD levels by 10% relative to 2005 levels is an aim of the Chinese 11th Five-Year Plan. Using a difference-in-differences...

Persistent link: https://www.econbiz.de/10012480484

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