Showing 1 - 10 of 147
We conduct a field experiment in partnership with the largest job platform in Brazil to study how environmental, social, and governance (ESG) practices of firms affect talent allocation. We find both an average job-seeker's preference for ESG and a large degree of heterogeneity across...
Persistent link: https://www.econbiz.de/10014437044
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
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
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
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
We document that investors derive nonpecuniary utility from investing in dual-objective VC funds, thus sacrificing returns. Impact funds earn 4.7 percentage points (ppts) lower IRRs ex post than traditional VC funds. In random utility/willingness-to-pay (WTP) models investors accept 2.5-3.7 ppts...
Persistent link: https://www.econbiz.de/10012480526
responsibility (CSR). Using firm-level data on CSR from 2002 through 2015 and panel data on competition laws in 48 countries, we … discover that intensifying competition induces firms to increase CSR activities. Analyses indicate that (a) intensifying … competition spurs firms to invest more in CSR as a strategy for strengthening relationships with workers, suppliers, and customers …
Persistent link: https://www.econbiz.de/10012481348
for profit-maximizing entrepreneurs; and 2) CSR arises endogenously as a response to imperfect regulatory oversight … their responsible workers, and in turn engage in CSR through self-regulation, provided that regulatory oversight is poor … negative impact of regulatory oversight on CSR activity. To test this, we exploit the UK's 2012 decision to mandate greenhouse …
Persistent link: https://www.econbiz.de/10012482378
social responsibility" (CSR), particularly in the realm of environmental protection. Beyond complete compliance with …
Persistent link: https://www.econbiz.de/10012464657
As the level of retirement-related assets has grown, so too has public and private interest in so-called "Socially Responsible Investment" (SRI), an investment strategy that employs criteria other than the usual financial risk and return factors when selecting firms in which to invest. This...
Persistent link: https://www.econbiz.de/10012466925